Projects
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Resources & Ore Reserves
The global Mineral Resource for the Lady Annie Project is 40Mt at 0.9% Cu for 358,700 tonnes of contained copper (Table 1). The Ore Reserve contains 142,200 tonnes of copper metal (Table 2), which is a 25% increase on the Ore Reserve that the Feasibility study was based on. Re-optimisation of the newly defined resources discovered during 2007 will be completed in early 2008 to update the Ore Reserve.
Table 1: Copper Mineral Resource Estimate for Lady Annie Operations December 2007
Using a 0.3% Cu lower cut off for Lady Annie and a 0.2% Cu lower cut off for the Mount Kelly ore bodies.
|
CopperCo Limited – Mineral Resource Statement as at December 2007 |
|
Deposit |
Measured |
Indicated |
Inferred |
Total Mineral Resource |
|
|
Tonnes |
Cu % |
Tonnes |
Cu % |
Tonnes |
Cu % |
Tonnes |
Cu % |
Cu Tonnes |
|
Oxide Resources |
|
|
|
|
|
|
|
|
|
|
Lady Annie |
6,994,000 |
1.2 |
2,407,000 |
0.9 |
1,710,000 |
0.8 |
11,111,000 |
1.1 |
120,900 |
|
Lady Brenda |
- |
- |
- |
- |
1,126,000 |
0.5 |
1,126,000 |
0.5 |
5,400 |
|
Mount Clarke |
2,501,000 |
0.9 |
3,688,000 |
0.7 |
154,000 |
0.6 |
6,343,000 |
0.7 |
51,100 |
|
Flying Horse |
1,198,000 |
0.7 |
3,044,000 |
0.6 |
885,000 |
0.7 |
5,127,000 |
0.6 |
33,100 |
|
Mount Kelly Workings |
- |
- |
129,000 |
0.7 |
83,000 |
0.6 |
212,000 |
0.7 |
1,400 |
|
Swagman |
128,000 |
0.6 |
170,000 |
0.6 |
61,000 |
0.5 |
359,000 |
0.6 |
2,100 |
|
Anthill |
- |
- |
1,055,000 |
1.0 |
1,910,000 |
1.2 |
2,965,000 |
1.1 |
33,300 |
|
Oxide Sub-Total |
10,821,000 |
1.1 |
10,493,000 |
0.7 |
5,929,000 |
0.8 |
27,243,000 |
0.9 |
247,300 |
|
Sulphide Resources |
|
|
|
|
|
|
|
|
|
|
Lady Annie |
4,905,000 |
0.8 |
2,483,000 |
0.9 |
1,556,000 |
0.8 |
8,944,000 |
0.9 |
77,700 |
|
Lady Brenda |
- |
- |
- |
- |
763,000 |
0.7 |
763,000 |
0.7 |
5,100 |
|
Flying Horse |
220,000 |
0.5 |
638,000 |
1.1 |
1,217,000 |
0.9 |
2,075,000 |
0.9 |
18,700 |
|
Anthill |
- |
- |
- |
- |
935,000 |
1.1 |
935,000 |
1.1 |
9,900 |
|
Sulphide Sub-Total |
5,125,000 |
0.8 |
3,121,000 |
0.9 |
4,471,000 |
0.9 |
12,717,000 |
0.9 |
111,400 |
|
TOTAL RESOURCE |
15,946,000 |
1.0 |
13,614,000 |
0.8 |
10,400,000 |
0.9 |
39,960,000 |
0.9 |
358,700 |
Note: Figures used are rounded
Table 2: Lady Annie Operations Ore Reserve Statement January 2007
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CopperCo Limited – Ore Reserve Statement as at January 2007 |
|
Deposit |
Proved |
Probable |
Total Ore Reserve |
|
|
Tonnes |
Cu % |
Tonnes |
Cu % |
Tonnes |
Cu % |
Cu Tonnes |
|
Open Pit |
|
|
|
|
|
|
|
|
Lady Annie |
4,710,000 |
1.3 |
3,808,000 |
1.0 |
8,518,000 |
1.2 |
87,760 |
|
Mount Clarke |
2,406,000 |
0.9 |
3,343,000 |
0.7 |
5,749,000 |
0.8 |
40,730 |
|
Flying Horse |
968,000 |
0.8 |
773,000 |
0.7 |
1,741,000 |
0.8 |
11,660 |
|
Mount Kelly Workings |
- |
- |
85,000 |
0.7 |
85,000 |
0.7 |
520 |
|
Swagman |
131,000 |
0.6 |
143,000 |
0.6 |
274,000 |
0.6 |
1,490 |
|
TOTAL RESERVE |
8,215,000 |
1.1 |
8,152,000 |
0.8 |
16,367,000 |
1.0 |
142,160 |
Note: Figures used are rounded
The Ore Reserve figures are based on the following assumptions.
- 5% Mining Dilution
- 98% Mining Recovery
- 89% Metallurgical Recovery
- Copper Price of US$2.20/lb
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