Name of the Project
Hillside copper/gold project.

Location
Yorke Peninsula, South Australia.

Project Owner/s
Rex Minerals.

Project Description
The project has total proven and probable reserves of 82-million tonnes, based on 2015 figures, grading 0.62% and 0.16 g/t gold. Total mineral resources are estimated at 337-million tonnes, based on 2015 figures, grading 0.6% copper and 0.14 g/t gold.

The updated feasibility study on the project envisages an operation processing six-million tonnes a year, with an average production of 35 000 t/y of copper and 24 000 oz/y of gold.

Openpit mining methods will be used, while hydraulic excavators and trucks will be used for primary haulage, and drill-and-blast practises for rock breakage and wall control.

The process plant design will use conventional flotation technology to produce a copper/gold concentrate.

The project has an initial mine life of more than 13 years.

Potential Job Creation
During construction, 500 to 550 workers will be required. This will decrease to about 430 during the operational phase.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of A$751-million and an internal rate of return of 16.2%

Capital Expenditure
The project has a preproduction capital is estimated at A$523-million.

Planned Start/End Date
The project is expected to take 20 months to complete, including a 12-month prestrip.

Latest Developments
The South Australian government recently approved the environment protection and rehabilitation programme for the Hillside project.

Rex plans to pursue all available financing options to progress the project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Rex Minerals, tel +61 3 9068 3077 or email rex@rexminerals.com.au.