Big potential at Mt Thirsty
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.