Coda Minerals Limited (ASX: COD) has updated its scoping study for its flagship 100%-owned Elizabeth Creek Copper Cobalt Project (ECCCP), South Australia. The new study significantly improved results of the scoping study released in March 2023.
The update has been undertaken for the purpose of providing an initial evaluation of the potential for the development of a series of open pit and underground mines and a mineral processing facility the Elizabeth Creek Project.
Chris Stevens, CEO said, “This study update reaffirms the strong economic fundamentals of the Elizabeth Creek Project as well as Coda’s ongoing commitment to de-risk the project and improve economics. Optimization and study work over the past eight months has resulted in a 29% increase to the project net present value compared with the original study released last March, as well as a material improvement in the NPV to capex ratio, and a reduction in estimated all-in sustaining costs.”
The updated scoping study includes the following changes:
• Mechanical cutting via continuous miner has replaced long-hole open stoping using drill-and-blast as the base case underground mining method at Emmie Bluff
• As part of the mechanical cutting study, Coda completed an update to the Emmie Bluff mineral resource estimate to improve definition within the vertical component of the block model. This has improved the applicability of the model to mining studies
• Peak annual mined production has increased from approximately 2.5Mtpa to approximately 3.0Mtpa
• Dolomite sourced on-site at Elizabeth Creek has replaced purchased limestone as the principal means for neutralization of the pregnant leach solution in the hydrometallurgical plant.3
• Other metallurgical reagents have been optimized
Coda is currently progressing low-cost, high impact studies which have the potential to support further updates to the scoping study. The company will undertake works such as the assessment of the viability of paste fill at Emmie Bluff to improve resource extraction ratio, and the assessment of adjusted or alternative processing flowsheets, including additional work on tails leaching to improve overall copper recovery, among others.
To find out more, please visit www.codaminerals.com
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