Antler copper project, US
Name of the Project
Antler copper project.
Location
Arizona, US.
Project Owner/s
New World Resources.
Project Description
A scoping study has proposed the potential development of the project, based on a Joint Ore Reserve Committee-compliant mineral resource estimate 7.7-million tonnes grading 2.2% copper, 5.3% zinc, 0.9% lead, 28.8g/t silver and 0.18g/t gold, for a copper equivalent of 3.9% copper.
The study proposes mining 9.3-million tonnes of material – 7.3-million tonnes of the 7.7-million-tonne resource and two-million tonnes mined through dilution – from an underground mining operation at one-million tonnes a year over an initial ten-year life-of-mine.
The operation is expected to produce 271 240 t of copper-equivalent metal-in-concentrates over the forecast initial operating life.
Conventional comminution and flotation is proposed to be used to produce three separate concentrates:
• copper/gold concentrates that are expected to grade at about 28% copper and 3 g/t gold. Recoveries of 85.3% of the copper into the copper concentrates are expected.
• zinc concentrates grading 52% to 55% zinc. Recoveries of 89.5% of the zinc into the zinc concentrates are expected.
• lead/silver concentrates grading at about
55% lead and 1 750 g/t silver. A recovery of 53.6% of the lead into lead/silver concentrates is expected.
Based on the production profile, and once steady-state production is achieved, an average of 30 600 t/y of copper-equivalent metal in concentrates will be produced (Year 2 to 9).
This comprises an average of 15 350 t/y of copper and 37 350 t/y of zinc in concentrate.
These concentrates will be containerised at the processing plant and trucked to Yucca,
15 km to the west of the Antler deposit, where the containers will be transferred to rail for transport to buyers and/or smelters.
The scoping study notes that a larger mineral resource could extend the operating life and/or facilitate greater yearly production targets.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 7% discount rate, of $524.9-million tonnes and an internal rate of return of 42%, with a payback of 29 months after the preproduction period.
Capital Expenditure
The project requires modest preproduction capital expenditure of $201-million.
Planned Start/End Date
Not stated.
Latest Developments
The prefeasibility study (PFS) has started to further refine and enhance the development parameters and economics of the Antler project, which will include an update of the mineral resource in the coming months, once assays from recent deep drilling are received.
The PFS is targeted for the first quarter of 2023, with the definitive feasibility study expected to follow immediately thereafter.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
New World Resources, tel +61 9226 1356 or email info@newworldres.com.
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