DeGrussa online until Q3 2022
PERTH (miningweekly.com) – Ore reserves at DeGrussa and Monty’s copper / gold operations are sufficient to support current production until the third quarter of 2022, ASX-listed Sandfire Resources reported.
Production at DeGruss and Monty would continue while construction on Sandfire’s new Motheo-T3 copper project in Botswana would continue.
“Based on current mining and processing rates, the current ore reserve at DeGrussa and Monty will allow low-cost, high-grade copper production to continue at full pace through the September 2022 quarter.
“This will put us in the best possible position to take advantage of the current copper price and maximize cash generation from what has arguably been one of the best copper deposits discovered in the world in recent times.
“It is important to note that this will provide us with an exceptional track to pivot to our next chapter of growth as we complete construction and prepare to begin operations of the new Motheo project in Botswana in early 2023, completing our transformation into a diversified international copper producer.
“Along with development activities at Motheo, we are also undertaking studies to assess the potential of a gold transition strategy at DeGrussa based on the development of the Old Highway gold prospect, taking advantage of existing processing facilities at the site.
“We are also maintaining a significant exploration campaign on our extensive land holdings surrounding the DeGrussa and Monty mines, with extensive aircor, reverse circulation and diamond drilling programs underway along prospective stratigraphic horizons to assess the potential. new discoveries, â€added Simich.
“This ongoing exploration campaign includes the ultra-deep diamond hole that was recently completed on the Red Bore tenement, targeting the interpreted plunged offset position of conductor 5. We look forward to the results of the bottom electromagnetic surveys. of hole on this important hole.
The underground ore reserves at DeGrussa and Monty were estimated at 2.6 million tonnes, 4.7% copper and 1.4 g / t gold for 120,000 t of contained copper and 117,000 oz of gold content.
The underground mineral resources of the two projects are estimated at 2.8 million tonnes, 5.8% copper and 1.9 g / t gold for 164,000 t of contained copper and 170,000 oz of contained gold.