PERTH (miningweekly.com) – Metals hopeful White Rock Minerals has launched a definitive feasibility study (DFS) and environmental-impact statement (EIS) for its Mt Carrington gold/silver project, in New South Wales.
White Rock MD and CEO Matt Gill said on Tuesday that initial priorities would be on community consultation strategy and engagement, the preparation and submissions of a preliminary environmental assessment, a geological review of the resource, and a detailed review and start of metallurgical testwork needed to lock down a preferred plant design.
“We are very excited to be at this point in the project’s development, having successfully raised some A$4.9-million before costs, late last year to undertake this work,” Gill said.
An updated scoping study in 2016 found that the project would require a capital investment of A$24.4-million, and would produce some 111 000 oz of gold and 7.7-million ounces of silver over a seven-year mine life.
Gill said on Tuesday that once the DFS and EIS were completed, and the necessary approvals obtained, White Rock would be in the position of already having secured a financing package with Cartesian Royalty Holdings, under which the future streaming financing component would provide for the construction and commissioning of the Mt Carrington project, with repayments to be made for a percentage of future gold and silver production.
“The funding proposal will directly provide for construction and commissioning through to commercial production, subject to the successful delivery of the DFS,” Gill said.