Copper producer Austral Resources Australia Ltd (ASX:AR1) has completed a successful; update to the Mineral Resource Estimate (MRE) for the Lady Colleen deposit within ML 90170 neighbouring the Mount Kelly treatment plant and Mount Clarke mine in Queensland, Australia.
The Lady Colleen deposit was defined by CST Minerals and last estimated and reported in 2013. The estimate concentrated on heap leach processing using a lower grade cut-off and large-scale blocks but included significant fresh sulphide material. Due to elevated calcium and magnesium as carbonate minerals over most of the Mineral Resource heap leach process was not viable and mining never commenced.
Austral has undertaken the current drilling programme and Mineral Resource estimate to refocus the Mineral Resource on principally a sulphide deposit for toll floatation treatment.
Highlights:
• Lady Colleen Mineral Resource updated to include estimates for potential on-site heap leach and toll sulphide treatment.
o Low calcium leach feed at a 0.3% Cu cut-off
▪ Measured Mineral Resource – 0.1 Mt @ 0.8% Cu
▪ Indicated Mineral Resource – 0.1 Mt @ 1.0% Cu
▪ Total Mineral Resource – 0.2 Mt @ 0.9% Cu
• The update includes:
o 18 new Austral drill holes completed 2022 and
o Improved geological understanding of lithology and faulting
• The Mineral Resource provides a basis for metallurgical sample select and a planned scoping study.
Location and Tenure
Lady Colleen is 120 km north-northwest of Mount Isa by road and neighbours the Mount Kelly treatment plant and Mount Clarke Mines (Error! Reference source not found.).
The Lady Colleen deposit lies within a granted Mining Lease ML90170 and is held 100% by Austral Resources Operations Pty Ltd.
For further information please visit: https://www.australres.com/
