Name of the Project
Walford Creek copper/cobalt project.

Location
The project is located in north-west Queensland, Australia.

Project Owner/s
Aeon Metals.

Project Description
A scoping study has demonstrated that the high-grade polymetallic Walford Creek asset is amenable to development technically and economically.

The study presents a standalone development pathway for the Walford Creek project based on the development of the existing Vardy and Marley resources using openpit and underground mining methods. Under existing resource scale and the selected process route, optimal mine and process throughput has been established at a nameplate capacity of about 3.5-million tonnes a year.

Processing of the Vardy and Marley feed will involve a combination of heap-leach (1.5-million tonnes a year) and flotation plant (two-million tonnes a year) treatment.

The lower-grade feed will be heap-leached, with metal products recovered by precipitation from the pregnant solution. The high-grade feed, which comprises the majority of the process feed, will be treated with conventional flotation processing. This flotation process allows for the production of readily saleable copper and lead concentrates and zinc and intermediate cobalt-rich pyrite concentrates. The zinc and cobalt concentrate is then treated using commercially proven bioleaching, followed by precipitation to produce cobalt/nickel and zinc sulphide products.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an ungeared after-tax net present value, at an 8% discount rate, of A$431-million and an internal rate of return of 34%, with a payback of three years.

Capital Expenditure
Preproduction capital expenditure is estimated at A$323-million.

Planned Start/End Date
Not stated.

Latest Developments
The prefeasibility study is scheduled for completion in the second quarter of 2020.

Key Contracts and Suppliers
H&SC (mineral resource estimation); PSM (geotechnical); AMDAD (mining, capital and operating costs); Geometcon (processing, capital and operating costs); and Ed Newman & Associates and Orangegum Consulting (environment, permitting, social and community studies).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Aeon Metals, tel +61 2 9232 2298 or email info@aeonmetals.com.au.