Ventnor adds resource at Thanduna/Green Dragon
PERTH (miningweekly.com) - Explorer Ventnor Resources has reported a 40% increase in its copper resource at the Thanduna/Green Dragon project, in Western Australia.
The project has an estimated Joint Ore Reserves Committee-compliant resource of 7.9-million tons, grading 1.8% copper for 142 000 t of contained copper, and 3.7 g/t for 945 000 oz of contained silver.
MD Bruce Maluish said on Tuesday that the increase represented another milestone for Ventnor, as the company sought to develop the Thanduna/Green Dragon project.
“The scale of the increase is due to higher-grade ore that has been intersected beneath the previous resource envelope, which has significantly increased the overall grade of the resource.”
The resource is predominantly classified as indicated and the majority of the estimate was within a 40 m x 40 m spaced drill pattern, which Maluish said gave Ventnor confidence about the continuity of the mineralisation and its ability to be mined.
“Importantly, the resource is now of a size and quality that we believe has potential for the proposed opencut operation to be followed by underground mining below the Tanduna pit.”
Maluish said that the underground mining potential was underpinned by the new higher-grade additional resource, which would likely significantly increase overall mine life and enhance the project economics.
Furthermore, the mineralisation at Thanduna remained open at depth and along strike, with deeper drilling under way to test the extent and the continuity of the orebody. A further resource update was expected in the second quarter of this year.
Meanwhile, metallurgical testwork was also being completed for the two deposits, and initial results have indicated favourable recoveries for both Thanduna and Green Dragon.
The updated resource would be used in conjunction with the metallurgical testwork to complete the scoping study, expected in late February.
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