PERTH (miningweekly.com) – Copper/gold explorer Golden Cross Resources is set to launch a prefeasibility study on its Copper Hill project, in New South Wales, after its scoping study came up positive.
The junior ASX-listed company on Wednesday revealed that the scoping study had considered a two- and three-million-tonne-a-year development scenario, based on the 28-million-tonne-a-year higher grade resource defined at the project.
Yearly strategic schedules were generated for both the two-million and three-million tonne-a-year throughput options, and provided mine lives of 13 and 9 years respectively.
Furthermore, the scoping study estimated a capital cost of A$130.5-million for the two-million-tonne-a-year development scenario, while the larger project would require a A$163.5-million investment.
Mining costs for both development scenarios have been estimated at A$4.06/t.