PERTH (miningweekly.com) – A scoping study into the Pilot Mountain tungsten project, in Nevada, has found that the project could support a yearly throughput of 650 000 t over a 12-year operational life to generate 1 000 t/y of scheelite in concentrate, ASX- and Aim-listed Thor Mining said on Friday.
The Desert Scheelite openpit operation is forecast to produce some 7.5-million tonnes, producing scheelite concentrates and copper silver concentrates, plus zinc silver concentrates.
The scoping study estimated pre-tax profits ranging from $125-million up to $317-million from the initial openpit operations, with the higher range estimation including improved scheelite recovery, reduced mining costs at greater throughput volumes, and the potential inclusion of the Garnet deposit nearby.
The project is expected to require a capital investment of between $30-million and $35-million, with project payback estimated to take 36 months.
“I am delighted to release the results of the scoping study for the Pilot Mountain project showing potential for at least a medium-term life on one, and potentially two of the four tungsten deposits at 100% owned Pilot Mountain,” said Thor’s executive chairperson, Mick Billing.
He noted that closed circuit metallurgical testwork on Desert Scheelite ore has already start, and could potentially upgrade the results of open circuit work previously conducted, which achieved 72% recovery of scheelite and saleable quality concentrates.
“With no US domestic production, and tungsten classified by the US Department of the Interior as a critical mineral, our objective is to restart the US’ commercial mining and tungsten concentrate production after a significant break,” Billing said.
Thor will now progress the project towards a detailed prefeasibility study.