PERTH (miningweekly.com) - A scoping study into base metals developer Ventnor Resources’ Thaduna/Green Dragon copper project, in Western Australia, has found that a capital expenditure of A$70-million would be required to support a 15 000 t/y operation.
The project currently hosts a Joint Ore Reserves Committee-compliant resource of 142 000 t of contained copper and some 945 000 oz of contained silver.
With a throughput rate of some 500 000 t/y, the project was expected to have a mine life of some ten years, with first production slated for the fourth quarter of 2014.
“The release of the scoping study results is another major milestone for Ventnor and its shareholders,” said MD Bruce Maluish on Thursday.
He added that the results to date have confirmed that the Thaduna/Green Dragon project was a viable, standalone operation.
“The project’s attractive margins and relatively low capital requirements combine to provide a timely payback based on current copper prices. The consistency, continuity and relative simplicity of the orebody, as well as its tendency for increasing grade at depth, should ensure an attractive operating environment for mining.”
Based on the results of the scoping study, Ventnor would now move to immediately start the bankable feasibility study (BFS), with results expected by the third quarter of this year.
The BFS would further focus on detailed mine planning, metallurgical testwork, processing options, confirmed contract rates and operating cost reduction initiatives.
Further drilling was also under way at the project, and would be included as part of the feasibility study.