Metals X Releases Nifty Copper Operations Update

Metals X Limited (ASX:MLX) has released an update on its Nifty copper operations in the East Pilbara region of Western Australia.

Metals X aquired Nifty in August 2016 through the takeover of Aditya Birla Minerals. According to Metals X Nifty was in ‘closure mode’ at the time with a year of estimated reserves left and was in a dilapidated state. The company set out to increase the mines life and improve the infrastructure on site.

As quoted in the press release, Mexals X’s progress against this plan is as follows:

• Appointing a new operations management team;
• Increasing Ore Reserves and therefore mine life from approximately 1 year to 6 years through; in-fill drilling of the majority of the reserve area on a 20m x 20m basis to increase geological confidence; reinterpretation of the geological models based on all drilling, as the previous models were unreliable and included minimal geological information (primarily based on drill assays only); developing and implementing a 5-year mine plan based on ore reserves with detailed stoping plans developed for approximately 6 million tonnes of ore.
• A significant rebuild and refurbishment of site infrastructure and equipment; The last of these major components was the replacement of 4km of conveyor for the underground crusher and conveyor system which was completed in May 2018; rebuild, replacement or increasing the mobile equipment fleet as required;
• Progressively ramping up underground mining and development activities; increasing the Jumbo operation from one to four machines; increasing long hole stoping drill rigs from one to three; opening additional mining areas both within and outside the historic ‘checkerboard’ mining area; progressively increasing development and stope drilling outside of the checkerboard;
• Commencement of continuous operation of the process

Click here to read the full Metals X Limited (ASX:MLX) press release.