JOHANNESBURG (miningweekly.com) – Irish junior miner Ormonde Mining has seen the mineral resource at its Barruecopardo tungsten project, in Spain, more than double to 10,9-million tons.

The Joint Ore Reserve Committee-compliant resource had increased from the previous projections of 5,2-million tons, allowing for higher production rates and a significantly longer life-of-mine for the project, where production was expected to start in 2012.

“We are now working to quantify precisely the benefits this new resource will have for mine designs and economic projections at Barruecopardo, as these projections will play a critical role in the company’s ongoing discussions with parties interested in funding the project,” Ormonde MD Kerr Anderson stated.

The 10,9-million ton resource had a grading of 0,45% tungsten trioxide (WO³), with 49 000 t of contained WO³, which represented a 96% increase in the tonnage of contained tungsten from the previous resource estimate of 5,2-million tons grading 0,48% WO³.

Further, about 6,5-million tons, or 60%, of the resource had so far been classified into the indicated category.

The capital cost of establishing the project, where production would start at 400 000 t/y to generate about 130 000 metric ton units of WO³, was projected to amount to between €20-million and €25-million.

Ormonde noted that while the initial production rate was still being planned for the first few years of the operation, the increased resource and the open-ended nature of the deposit, could make a higher production rate of between 600 000 t/y and 800 000 t/y viable in later years.

It was possible that the life-of-mine of the project could also increase beyond 20 years.

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.