the next phase

The Project is ready to complete a Staged 1 JORC Drilling Program & Concept Study, followed by a Staged 2 JORC Drilling Program & Pre-Feasibility Study supported by a JORC Resource Statement.

The priority objectives that follow support the overall Company Strategy and aim to achieve development status and to maximise enterprise value for the structural mapping on the Tornado, Holmes and Cyclone prospects, and include:

  • Mineralogy Study on Tornedo and Holmes.
  • Stage 1 JORC Drilling (450m) on Tornado and Holmes to:

                       –  complete drilling to a depth of 25m to prove up a 1,500,000t Indicated and Inferred Resource and approximately 200,000oz (250,000oz equivalent                                 including value of antimony), and

                      –  determine oxidised, transition and fresh ore horizons.

  • Metallurgy test work to optimize the recovery process:

                      –  maximise the flotation top size to 600micron,

                      –  split feed process (<38um < 150um <600um) to maximise recovery, and

                      –  heap leach option to be assessed as a low cost, small scale alternative.

  • For the Holmes prospect, flotation test work to develop a gold antimony concentrate and possible 2 stage leach process test work incorporating alkaline              pre-treatment to confirm ability to recover antimony as a marketable product, followed by conventional leaching to enhance gold recovery.
  • Detailed mine planning on Tornado, and Holmes prospects.
  • Infrastructure layout design, water supply, water management, tailings management, access, haul roads and accommodation.
  • JORC Resource Statement to support PFS or Feasibility Study.
  • JORC Reserve Statement to support PFS Feasibility Study.
  • Capital cost estimate to +/- 30% for PFS.
  • Operating cost estimate to +/- 30% for PFS.
  • Mineralogy Study on Tornedo and Holmes.

Strategy and Timeline