Wednesday, 18 March 2015
ALTONA Mining has posted the first mineral resource for the Turkey Creek deposit at its Cloncurry copper project near Mt Isa.
The resource came in at 21 million tonnes at 0.59% copper for 123,300 tonnes contained copper at a 0.3% cut-off.
The global resource for the Cloncurry project now stands at 286.8Mt at 0.57% copper and 0.4 grams per tonne gold for 1.65Mt copper and 400,000 ounces gold.
Turkey Creek is about 1.5km east of Altona’s planned Little Eva open pit operation and processing plant, and lies within granted mining leases.
The company said the deposit would be included in the mining inventory for Little Eva, and its addition would increase the mine life about 1-2 years from the current 11 year estimate.
A limited diamond drill campaign is planned to collect samples for definitive metallurgical test work to help establish a reserve.
Mapping out the geology of Turkey Creek, Altona said the majority of the resource was sulphide ore from 25m to 160m below the surface.
An oxide cap ranging from surface to 25m-45m is included in the estimate.
Moving forward, Altona said Turkey Creek was located at the site of the proposed tailings storage facility, which would now be re-located.
Test work is underway to assess the suitability of the deposit’s ore for the Little Eva flotation circuit.
Altona shares were down 1% to A9.9c this morning.