PERTH (miningweekly.com) – ASX-listed Carbine Resources has moved a step closer to production at its Mount Morgan gold/copper project, in Queensland, with the board approving front-end engineering design (FEED) work.
The FEED work will be carried out in parallel with finalising the remaining regulatory approvals for the project.
“We are very confident that we will receive the remaining government approvals for a project which will make a very positive contribution to both the environment and to the communities in Mt Morgan and central Queensland,” said Carbine MD Tony James.
A feasibility study into the Mt Morgan project estimated that a capital investment of A$85-million will be required. Based on a 1.1-million-tonne throughput rate, the project is expected to have a nine-and-a-half-year mine life, producing 30 000 oz/y of gold and 3 800 t/y of copper sulphate.
The project’s life could be increased to around 20 years, as a substantial inferred mineral resource existed within the remnant tailings in the Sandstone Gully and Mt Morgan openpit. The expanded case will see the production of some 18 000 oz of gold and 2 000 t of copper sulphate during years 10 and 20 of the mine life.
Edited by: Creamer Media Reporter
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