Austral Resources has announced the results of a promising scoping study that outlines a significant copper production pipeline in Queensland.
Conducted by ERM Australia Consultants, the study assessed the potential of optimizing and updating the mine plans for several existing deposits, including Lady Annie, Lady Brenda, Mount Clarke, and Flying Horse. The findings suggest that approximately 128,000 tonnes of contained copper could be mined from Austral’s current mineral resource inventory.
The study indicates that around 15,600 tonnes of contained copper oxide and transitional ore can be processed at Austral’s existing Mt Kelly SX/EW (solvent extraction-electrowinning) facility. Additionally, 112,400 tonnes of further contained copper ore is available for processing through flotation methods.
Austral plans to have the large volume of fresh and transitional sulphide ore suitable for flotation processed at Glencore’s Mt Isa facility. Ongoing discussions for a toll treatment agreement between Austral and Glencore are expected to conclude in the fourth quarter of 2024.
Notably, about 90 percent of the mineral resources included in the scoping study fall under the measured or indicated category, which supports the project’s economic viability and highlights swift pathways to production along with promising exploration opportunities.
David Newling, chair of Austral Resources, expressed enthusiasm over the study’s outcomes, stating, “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.”
He added that the optimization work affirms Austral’s position as a significant player in the copper sector, particularly as the industry transitions towards more sustainable practices.
Austral is now accelerating the pre-feasibility study for the Lady Annie, Lady Brenda, Mount Clarke, and Flying Horse copper deposits, with completion expected in Q4 2024.
