Endeavor silver/zinc/lead mine restart project

Name of the Project

Endeavor silver/zinc/lead mine restart project.

Location

New South Wales, Australia.

Project Owner/s

Polymetals Resources.

Project Description

A restart study has demonstrated strong technical and robust economic support to restart silver/lead/zinc concentrate production at the mine.

The study is based on a mine plan and optimised mining schedule that includes initial mining from three zones in the underground mine, and the later retreatment of high-grade Sector 1 tailings that were produced during the early years of production, which started in 1983.

The project benefits from using the extensive existing high-quality and well-maintained underground and surface infrastructure.

The restart study has estimated total ore mined and processed of 8.4-million tonnes over an initial mine life of ten years, with payable zinc of 210 000 t, lead of 62 000 t and silver 9.76-million ounces.

Mining of underground ore extends from years 1 to 6 and retreatment of Sector 1 tailings starts in Year 5. Longhole open and sublevel stoping, cut-and-fill and hydraulic mining methods will be used.

Conventional crushing, grinding and differential flotation processing methods will be used.

Potential Job Creation

The project will have a peak of 230 workers across the life-of-mine.

Net Present Value/Internal Rate of Return

The project has a pretax net present value, at an 8% discount rate, of $201-million and an internal rate of return of 91%, with a payback of 2.3 years.

Capital Expenditure $23.7-million.

Planned Start/End Date

First concentrate production is targeted for the second half of 2024. Underground mining is scheduled to start within eight months of a project restart decision, with concentrate production two months thereafter. Latest Developments

None stated. Key Contracts, Suppliers and Consultants

None stated. Contact Details for Project Information

Polymetals Resources, email info@polymetals.com.