Big po­ten­tial at Mt Thirsty

The Australian Mining Review - - NEWS - REUbEN ADAMs

JV part­ners Con­ico and Barra Re­sources have un­veiled a scop­ing study with “a ro­bust set of fi­nan­cial met­rics” for the Mt Thirsty cobalt project near Norse­man in WA.

The Mt Thirsty Joint Ven­ture (MTJV) was look­ing to push the project to­wards de­vel­op­ment in the face of strength­en­ing cobalt fun­da­men­tals and a re­bound­ing nickel mar­ket.

The study es­ti­mated low cap­i­tal and op­er­at­ing costs of $212 mil­lion and A$43 per tonne of ore treated.

A to­tal of up to 27,000 tonnes of cobalt and up to 35,000 tonnes of nickel could be pro­duced over the ini­tial 21 year mine life.

The MTJV stated that re­sults con­firmed its view that Mt Thirsty rep­re­sented a “long mine life, low cap­i­tal and op­er­at­ing cost min­ing op­por­tu­nity in a sta­ble ju­ris­dic­tion with ex­cel­lent lo­gis­tics”.

There was also po­ten­tial to ex­tend the mine life through the in­clu­sion of ad­di­tional ton­nages from other prospects in the re­gion, with The MTJV re­cently dis­cov­er­ing a small cobalt de­posit about 3km to the north.

Part­ners and fund­ing were now be­ing sought to progress to a pre-fea­si­bil­ity and fea­si­bil­ity study “as soon as pos­si­ble”.

The lo­ca­tion the Mt Thirsty cobalt project near Norse­man in WA.

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