Black Mountain sees exploration potential at Lanfranchi
PERTH (miningweekly.com) – Privately held Black Mountain Metals on Tuesday told delegates at the Australian Nickel conference, in Perth, that the company would focus on exploring its recently-acquired Lanfranchi nickel operation, in Western Australia, before planning a restart.
Black Mountain in September acquired the Lanfranchi operation from ASX-listed Panoramic Resources for A$15.1-million in cash.
The project was placed under care and maintenance in 2015, with the mine producing a total of 3.85-million tonnes of ore averaging grades of 2.45% nickel for 94 196 t of nickel.
Black Mountain COO Ashley Zumwalt said on Tuesday that the company was currently conducting a full desktop data review of the Lanfranchi operation, with an exploration programme to follow.
“We see considerable exploration potential at Lanfranchi,” Zumwalt said.
“Our immediate priority is to test targets in the up and down extensions of Lower Schmitz and near-proximity regional areas.”
She said that the company was willing to invest ‘patient capital’ to extend the resources at Lanfranchi, but was confident of returning the mine to production.
Texas-based Black Mountain also owns 19.82% in Poseidon Nickel, which has three near operational projects in Western Australia, and is currently drilling for lithium resources.
Black Mountain made a bid for the company in August, but withdrew it after Poseidon chose to pursue a A$75-million capital raise instead.
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