Skip to content
Business Company News, Oil Mining Resources

Austral Resources Reveals Positive Scoping Study Highlighting Significant Copper Production Pipeline

Jane Morgan Management 2 mins read

Brisbane, Australia – 4 October 2024 | Austral Resources Australia Ltd (ASX:AR1) (“Austral” or “the Company”) is pleased to announce the results of a positive Scoping Study (the “Study) conducted by ERM Australia Consultants Pty Ltd (“ERM”). The study highlights the significant potential for copper production at several of Austral’s key deposits, further enhancing the Company’s growing production profile.

Highlights:

  • Positive Scoping Study: The Study, conducted on the Lady Annie, Lady Brenda, Mount Clarke, and Flying Horse deposits, indicates approximately 128,000 tonnes of contained copper potentially available for mining from Austral’s existing Mineral Resource inventory.

  • Processing Potential: Around 15,600 tonnes of copper oxide and transitional ore can be processed at Austral’s existing Mt Kelly SX/EW facility, while 112,400 tonnes of additional copper ore can be processed via flotation.

  • JORC Classification: Approximately 90% of the Mineral Resources in the Study are within the Measured or Indicated JORC classification, supporting the economic viability of the project.

  • Fast-Tracking Development: Austral is fast-tracking the Pre-Feasibility Study (PFS) for these deposits, with completion expected in Q4 2024, paving the way for early production.

David Newling, Chairman of Austral Resources, commented: “We are extremely excited with the outcomes of the scoping study which demonstrate the strength of Austral Resources’ extension project and its long-term copper production growth story.”

“The scoping study supports a strongly viable go-forward case, and is a very exciting development for Austral, our partners and shareholders. Additionally, the optimisation work confirms we have a business that can continue to be significant and has the scale to reposition Austral as a leading Australian mid-tier copper producer with economic relevance, especially as we continue to move into a greener world.”

“I want to thank all our stakeholders and shareholders for their continued support, and I look forward to sharing more positive updates with you as we progress the recapitalisation of the Company.”

Study Highlights:

The Scoping Study examined how an optimised mine plan could enhance production from existing deposits. The study confirms the viability of mining around 124,000 to 131,000 tonnes of contained copper from the identified deposits. The Company’s refurbished Mt Kelly Processing Plant will process the oxide material, while sulphide ore will be processed through Glencore’s Mount Isa facility under a planned toll treatment agreement, expected to be finalised by Q4 2024.

Next Steps:

  • Finalise the Pre-Feasibility Study by Q4 2024.

  • Continue exploration drilling to upgrade Inferred Resources to Measured and Indicated classifications.

  • Progress discussions with Glencore on the toll treatment agreement for sulphide ore processing.

Dan Jauncey
Managing Director & CEO
Austral Resources Australia Ltd
info@australres.com

Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au


About us:

About Austral Resources:

Austral Resources Australia Ltd is an Australia-based copper producer, developer and explorer located in the Mt Isa District of northwest Queensland. The Company’s projects include Anthill Project, Lady Annie Project, Cameron River Project and Miranda Project. The Anthill Project area lies within the Lady Annie Project and is located approximately 45 kilometres (km) from the Mt Kelly processing facility. The Lady Annie Project tenements are in the Western Fold Belt of the Mount Isa Inlier. The Cameron River Project tenements lie within the Eastern Fold Belt of the Mount Isa Inlier with the northern tenement close to the boundary with the Central Kalkadoon-Leichardt Belt. The tenements are prospective for copper, gold and rare earths. The Miranda Project tenements lie predominantly within the Central Kalkadoon-Leichardt Belt of the Mount Isa Inlier, with one tenement, EPM 17646, occurring within the Mary Kathleen Group of the Easter Fold Belt.


Contact details:

Jane Morgan
Jane Morgan Management
Investor and Media Relations
jm@janemorganmanagement.com.au

Media

More from this category

  • Business Company News, Environment
  • 06/11/2024
  • 15:41
Schneider Electric

Blue Connections IT achieves carbon neutrality, for the second year in a row, through sustainable technology

Schneider Electric celebrates Blue Connections IT’s continuous carbon neutrality status, marking a significant milestone in their long-standing partnership. Blue ConnectionsIT’s state-of-the-art six-star head office…

  • Contains:
  • Business Company News, Finance Investment
  • 06/11/2024
  • 13:29
Chapter One Advisors

Little Green Pharma (ASX: LGP) Hits Record Revenue, Expands European Reach and Cash Flow Positive for First Time

Little Green Pharma (ASX: LGP) has delivered a stellar September quarter, positioning itself as a strong contender in the increasingly competitive medicinal cannabis space.…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 06/11/2024
  • 10:15
Jane Morgan Management

Victory Metals Limited Extends North Stanmore Strike Length to 13.5km with Promising Results

Perth, Australia – 6 November 2024 | Victory Metals Limited (ASX:VTM) (“Victory Metals” or the “Company”) is pleased to announce significant progress at its North Stanmore Heavy Rare Earth Elements (HREE) Project in Western Australia, with the successful completion of a 3,681m air core drilling program. Exploration work has now confirmed the presence of high-grade heavy rare earth oxides (HREO) and scandium mineralisation across an impressive 13.5km strike. Highlights: Strike Extension: Recent drilling results extend the known mineralisation strike to 13.5 km and reinforce North Stanmore as a premier HREE-dominant project. Assay Results: Recent drilling results include: AC0011: Up to…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.