Maiden Mineral Resource at Enterprise
Brisbane, Aug 9, 2022 AEST (ABN Newswire) - Copper producer Austral Resources Australia Ltd (ASX:AR1) is pleased to announce the completion of a maiden Mineral Resource for the Enterprise deposit within EPM 17527 in Austral's Eastern Succession tenement package.
- Maiden Mineral Resource Estimate completed for the Enterprise Deposit within Austral's Eastern Succession tenements
- The Mineral Resource at a 0.7% Copper cut-off and to a depth of 85m below surface is:
o 0.58 Mt @ 1.3% Cu (Inferred Sulphide Mineral Resource)
- Mineralisation is tested to over 200m in depth, remains open at depth and the highgrade core appears to lengthen at depth
- The Enterprise Mineral Resource has potential to improve with further exploration and is adjacent to other current copper operations
- The maiden Enterprise Mineral Resource Estimate highlights the prospectivity of AR1's Eastern tenure
The Enterprise deposit was originally discovered and initially drilled out by CST Minerals' Lady Annie Exploration Pty Ltd ("CST") in 2015 and 2016. Further work planned by CST was not completed due to budget constraints.
Today's maiden Mineral Resource is classified as Inferred and reflects the broad 40m by 120m drill hole spacing.
Austral has completed the maiden Mineral Resource estimate originally planned by CST to determine the next phase of resource definition infill drilling.
The maiden Mineral Resource estimate, along with preliminary mining studies has indicated the potential for a small sulphide open pit mine with toll treatment potential at one of several regional copper processing mills.
The Enterprise Mineral Resource warrants further work including drilling to test depth potential and infill current drill spacing, metallurgical evaluation and the measurement of density.
*To view the full announcement with tables and figures, please visit:
About Austral Resources Australia Ltd
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
Austral Resources Australia Ltd