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Munda Gold Mine Starter Pit Underway
Highlights
- Munda Mining Proposal and Mine Closure Plan approved.
- Starter Pit site preparation commenced.
- Munda will be mined by Auric, in its own right, with Auric employees.
- Grade control drilling on a 5m x 5m pattern completed.
- Contracts executed for mining fleet hire, drill and blast and key suppliers.
- Mine camp for 12 people established near Munda.
Management Comment
Managing Director, Mark English, said: “This is a milestone moment for Auric. Our whole team is full of optimism and excited to commence the Munda Gold Mine Starter Pit.
“Munda is our major asset; containing a sizeable gold resource. We will start out conservatively with a target to mine 125,000 tonnes of ore, producing around 6,100 ounces of gold at a projected AISC of A$2,635 per ounce.
“We are right on schedule and have mobilised all the necessary machinery and infrastructure. Earth works have commenced, we will begin mining in a few days.
“The Starter Pit will take us approximately six months to complete.
“The project is another significant step, both in our ambition to become a substantial gold producer in the district, and to develop Munda to its full potential.” said Mr English.
Photo 1: MHM Contracting 40-tonne Moxy dump trucks on site at Munda Gold Mine.
The Munda Starter Pit Mining Proposal and Mine Closure Plan have been approved by the WA Government’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Survey mark-out of the pit crest, haul road, waste dump, ROM pads and site office has been completed.
Auric has executed a contract to dry hire the mining fleet from MHM Contracting Pty Ltd. The fleet will be operated by Auric employees.
A grade control program over the Starter Pit extents for those holes accessible from surface on a 5m x 5m pattern has also been completed. A total of 428 holes for 14,670m were drilled by Kalgoorlie-based Total Drilling Services. Results have been received allowing the mine geologists to define near surface ore blocks in advance of mining. Further grade control drilling on a 5m x 5m pattern will be undertaken as mining exposes new benches.
The Company will commence mining the Starter Pit this week, where it is estimated 125,000 tonnes of ore will be extracted at an estimated grade of 1.8g/t Au at an AISC of A$2,635 per ounce (Tables 2 and 3). The Starter Pit will take approximately six months to complete.
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This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Independent Estimate Confirms Multibillion Barrel Prospective Resources
Highlights
- New independent estimate confirms multibillion barrel prospective resource across five prospects in Tumbes TEA
- Total Best Estimate (2U) of 3 billion barrels of oil prospective resources1 (100% gross unrisked) across Bonito, Raya, Salmon, Caballa and Tiburon prospects
- The largest prospect, Bonito, has a Best Estimate (2U) of 1 billion barrels of oil prospective resource1 (100% gross unrisked)
- Majority of the resources are contained within Lower Miocene Zorritos Formation, a proven reservoir within the basin
- Resource potential determined by leading international petroleum consultancy Netherland Sewell and Associates (NSAI)
- World class multibillion barrel exploration potential builds on Condor’s substantial discovered gas field at Piedra Redonda (1 Tcf 2C)2
- Farmout process commenced with multiple parties in data room
- Shareholder briefing to be held Thursday 10 April, to detail resource estimate update
The NSAI evaluation confirms multibillion barrel potential, with a combined best estimate gross unrisked 2U prospective resource of 3 billion barrels of oil (2.4 billion barrels net to Condor) across the Bonito, Raya, Salmon, Caballa and Tiburon prospect areas (Table 1).
Figure 1 – Independent estimate of prospective resources across five prospects shown in purple, Raya, Salmon, Bonito, Caballa and Tiburon.
Table 1 – Statistically Aggregated Prospective Resource Estimates (Unrisked) at each of the 5 prospect areas Low (P90), Mid (P50), High (P10).
Prospective resources shown are aggregated by prospect area (Table 1). The geological chance of success (GCoS) has been assessed for the primary target reservoir within each prospect. Each prospect contains multiple stacked reservoir intervals, which may increase the effective chance of success due to multiple opportunities within a single structure.
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This article includes content from Condor Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Optimised Root Lithium Project PEA Highlights Robust Economics
HIGHLIGHTS
- The Root Lithium Project in Ontario, Canada has been evaluated on a standalone basis and considering the recently updated Root Project MRE, revised pit optimisations and mine development options and changed lithium market conditions (previous 2023 PEA results were combined with the Company’s Seymour Lithium Project also in Ontario)
- The study confirms favourable economics across alternative mine development scenarios, including both open pit and underground mining, reinforcing Root as a viable and resilient standalone project
- The selected development option for the Root Lithium Project delivers:
- An increase in NPV to US$668 million
- A reduction in pre-production CAPEX, largely due to lower pre-stripping costs
- Reduction in Total Material Movement (TMM)
- Lower NPV and longer payback period due to more conservative SC5.5 pricing assumptions in early processing years
- Significantly improved LOM strip ratio of 8.1:1, driven by underground development—resulting in lower mining costs that help offset reduced revenues
PROJECT DASHBOARD
- The Root Lithium Project underpins GT1’s vertically integrated development strategy and is expected to provide long-term feed to the Company’s planned Lithium Conversion facility in Thunder Bay
- The immediate focus for the Root project will be advancing permitting and consultation activities in parallel with the Pre-Feasibility Study( PFS)
"The completion of the optimised PEA marks a major milestone for the Root Lithium Project, confirming it as a technically and economically robust standalone operation. With a longer mine life, reduced upfront capital requirements, and strong economics, Root is well-positioned to support GT1’s broader strategy of establishing a vertically integrated lithium supply chain in Ontario. This study reinforces our confidence in Root as a long-term feed source for the Thunder Bay conversion facility and highlights the project’s strategic importance in the North American battery materials landscape.
The economic advantages of executing a project in Ontario are obvious and compelling, driven by outstanding infrastructure, government incentives and proximity to the North American EV supply chain. We remain committed to advancing our Root Lithium Project to realise our overall strategy in Ontario.”
-GT1 Managing Director, Cameron Henry
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This article includes content from Green Technology Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Bayan Secures Transformative Patents in Solar Cell Recycling Technology
- Bayan has secured an exclusive license from Macquarie University for “Microwave Joule Heating Technology” a microwave-based solar panel recycling technology, positioning the company at the forefront of sustainable energy technology solutions.
- The Company intends to commence further research and development to assess the ability to potentially recover valuable metals such as Silver, Silicon, Gallium and Indium.
- The basis of the technology platform utilises microwave technology to soften the EVA encapsulant in solar panels, enabling easy delamination and potential recovery of valuable materials at room temperature. This approach avoids the need for extreme heat (1400°C) typically required for separating materials like glass and silicon as well as the use of costly hazardous chemicals in traditional processes.
- Delamination enables selective separation of materials without the need for mechanical crushing, whereas traditional crushing methods often result in crosscontaminated material and lower recovery rates.
- The breakthrough technology presents a potential novel pathway for improved recovery of materials such as silver and silicon from solar panels, critical materials underpinning solar and semiconductor technologies.
- By 2035, Australia is expected to accumulate 1 million tonnes of solar panel waste worth over A$1 billion1, while the global CIGS (Copper, Indium, Gallium, Selenide) solar cell market is projected to grow to US$12.23 billion by 20322.
The Technology from Macquarie University
The team from the School of Engineering at Macquarie University, led by Dr Binesh Puthen Veettil, have developed a new microwave technology that will solve the challenge of electronic waste from end-of-life solar panels. Currently, the recycling process is technically challenging with only an estimated 15% of solar panels making it to a recycling facility3, and the remainder going straight to landfill once they have reached their 20–25-year end of life span. In the rare instance they are recycled, the solar panels, in the traditional method, are crushed and heated at approximately 1400°C before being washed in harsh chemicals to remove the plastics.
Dr Binesh Puthen Veettil’s research in collaboration with the School of Photovoltaics at UNSW, the Australian Centre for Advanced Photovoltaics and further supported by the Australian Government through the Australian Renewable Energy Agency highlights the immense need and impact this technology will bring.
In this new method, the microwave energy is used to selectively heat the materials within a solar panel. In this process, the silicon cells and other microwave-absorbing components rapidly heat up, while surrounding materials remain relatively cool. This targeted heating causes the plastic encapsulant, ethylene vinyl acetate (EVA), which holds the panel layers together to soften and degrade.
Figure 1 – A visual representation illustrating how microwave radiation selectively targets the plastic encapsulant (EVA) in solar panels, softening it to enable the delamination of solar cells while leaving other materials largely unaffected
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This article includes content from Bayan Mining and Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.