Nifty reserves increase by 55%
PERTH (miningweekly.com) – Ore reserves at the Nifty copper mine, in Western Australia, have increased by 55%, representing an additional 84 000 t of copper, ASX-listed Metals X reported on Thursday.
The total ore reserve at Nifty is reported at 13.9-million tonnes, grading 1.71% copper for 237 500 t of contained copper, which translated into an underground mine life of about six years, based on targeted production levels of 40 000 t/y.
“As expected, our first concerted underground exploration effort at Nifty has resulted in a substantial increase in mine life, which now stands at around six years of reserve. Underground drilling is continuing to identify additional mineralisation that will be incorporated into a proposed further upgrade of resource and reserve estimates in the first half of 2018,” said Metals X MD Warren Hallam.
“We have no doubt as to the long-term future of Nifty and this is a further step in transforming Nifty back into a large, long life mine and profitable asset.”
Nifty is estimated to host a resource of 41.58-million tonnes, at 1.5% copper for 622 000 t of contained copper.
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