KEY POINTS
- Scoping study supports potential for a large open cut mine based on the recently announced Mineral Resource estimate by the MSA Group.
- Estimated mineable ore of 84.5 Mt Run of Mine (ROM) at 1.19% Cu and a strip ratio of 2.4:1 (tonnes of waste per ROM tonne of ore).
- Ore production of approximately 7.5 Mt pa to produce a 30% Cu copper concentrate.
- Copper metal production potential ranges from 55 kt pa in early years ramping up to 75 kt pa in the latter years.
- Open cut production mine life of approximately 14 years.
- Cash cost estimate of US$31.45/ROM t ($1.49/lb. Cu)
- Estimated start-up capital expenditure of US$377M.
- Pre-feasibility and underground operation studies to be initiated.
- Further metallurgical studies are planned, including assessment of the viability of heap leaching of oxide ore.
Blackthorn Resources Limited (ASX:BTR) (“the Company” or “Blackthorn Resources”) is pleased to provide an update on the recently completed scoping study (the “Study”) for its Kitumba Project (the “Project”) located in Zambia. Blackthorn Resources holds a 100% interest in the Mumbwa Project which hosts the Kitumba resource.
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