Brisbane, Sep 7, 2022 AEST (ABN Newswire) - Austral Resources Australia Ltd (ASX:AR1) Managing Director Dan Jauncey Speaks with ABN Newswire on the recent 2,500 metre drilling program, with the first of the latest results showing high (7% Cu) values.
Austral's extensive pipeline includes 60mt JORC compliant resources as feedstock for their Copper Cathode production plant at Mt Kelly near Mt Isa. With an ongoing exploration program that has already produced exceptional results, the field is destined to become bigger.
The company is exceeding their forecast ore crushing targets and is on track to produce 40,000 tonnes of Copper Cathode from their mined ore over the next four years.
Austral's capacity as a vertically integrated explorer, miner, producer and manufacturer of copper, is spectacular.
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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