Iron and copper bearing gossans at Senator
Photo by: PolarX
Name of the Project
Alaska Range copper/gold project.
Location
US.
Project Owner/s
PolarX.
Project Description
A scoping study completed in October 2022 has proven positive.
The study evaluated the sequential mining and processing options for the high-grade Caribou Dome volcanogenic massive sulphide copper deposit and the nearby Zackly copper/gold/silver skarn deposit.
The Caribou Dome project comprises two key areas, namely Caribou Dome, an unmined Joint Ore Reserves Committee-compliant resource open in all directions; and the Senator Extensions, a recently discovered soil anomaly grading up to 12.1% copper in rock chips and situated between the Caribou-Dome and Zackly deposits.
Processing is scheduled at 600 000 t/y over 6.5 years, with mining starting underground at Zackly and then moving to Caribou Dome, and mineralisation processed through a common conventional sulphide flotation plant, modified when production shifts from Zackly to Caribou Dome.
Net Present Value/Internal Rate of Return
The project has a pretax net present value (NPV), at a 7% discount rate, of $72-million and an internal rate of return of 26%, with a payback of 2.25 years after construction.
The scoping study has shown the potential for significant upside in NPV through successful resource extension drilling at Caribou Dome and Zackly.
Potential Job Creation
Not stated.
Capital Expenditure
Preproduction capital is estimated at $111-million.
Planned Start/End Date
Not stated.
Latest Developments
PolarX has said the scoping study’s outcomes fully justify additional investment in extension drilling at both deposits, where an increase in mineral resources could significantly enhance projected returns.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
PolarX, tel +61 8 6465 5500 or email info@polarx.com.au.