Cu-Co-Ag Mining Project South Australias Next Copper Mine August - - PowerPoint PPT Presentation

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Cu-Co-Ag Mining Project South Australias Next Copper Mine August - - PowerPoint PPT Presentation

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Mount Gunson Cu-Co-Ag Mining Project South Australias Next Copper Mine August 2016 Torrens Mining Limited Resource Innovation World Class Olympic Copper Province 130km Port Augusta 45km Woomera Mt Gunson Cu-Co-Ag Mining

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SLIDE 1

Mount Gunson Cu-Co-Ag Mining Project

“South Australia’s Next Copper Mine”

August 2016

Torrens Mining Limited

Resource Innovation

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SLIDE 2

M63/15

World Class Olympic Copper Province

130km Port Augusta 45km Woomera

Mt Gunson Cu-Co-Ag Mining Project

Torrens Mining Limited

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SLIDE 3

Two distinct copper deposit types: Sedimentary-hosted deposits in Cover Sequence IOCG (Olympic Dam) deposits in basement rocks (up

to 1 km deep)

3 O’Brien 2006b

Torrens Mining Limited

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SLIDE 4

Tenements

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Tenement Granted Expiry Area (sq.km) EL5636

(prev. EL4460)

25-10-2015 24-10-2017 463 EL5108

(prev. EL3937)

29-10-2012 28-10-2017 70 EL5333 7-10-2013 6-10-2018 291 Total 824

Torrens Mining Limited

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SLIDE 5

Established s site:

Electrical Power Scheme water Phone 40km to Woomera Air services Sealed Stuart Hwy

Wall collapse

Torrens Mining Limited

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SLIDE 6

Open-cut mining inventory*

Dolomitic black shale Cu-Co-Ag sulphide ore

Torrens Mining Limited

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SLIDE 7

MG14 Resource

117 drill holes Indicated Resource 1.6Mt @ 1.4%Cu, 0.04%Co, 14g/t Ag

Open to NW

500m

Torrens Mining Limited

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SLIDE 8

Windabout Resource

Torrens Mining Limited

1 km

Indicated Resource 18.7Mt @ 1.0%Cu, 0.05%Co, 10g/t Ag 195 drill holes

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SLIDE 9

MG14 & Windabout Resources

  • 20.3M tonnes @ 1.0%Cu, .05%Co & 10g/t Ag,

for 465 M lb Cu (>200Kt), & 26 M lb Co

  • Estimated Mineable

13.1M tonnes @ 1.1%Cu, .05%Co & 16g/t Ag

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Torrens Mining Limited

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SLIDE 10

Why have these Deposits not been developed???

Torrens Mining Limited

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Plus…

  • Readily marketable commodities
  • Established mineral resources

>200kt Cu

  • Shallow starter pit (MG14)
  • Excellent infrastructure
  • Supportive community

Torrens Mining Limited

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SLIDE 12

Minus…

  • High Stripping Ratio Windabout

(circa 20:1)

  • Conventional float methods has not

been able to demonstrate a commercially acceptable process route.

Torrens Mining Limited

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SLIDE 13

Solutions…?

  • Use proven Coal Mining technology

for mining

  • Adopt a hydrometallurgical leach

route for the processing

Torrens Mining Limited

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SLIDE 14

Windabout Waste Mining

Considerations: Strip Ratio av. 20:1 Free dig overburden Grid power available Long mine life (>12yrs) Essentially flat orebody

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Torrens Mining Limited

Option 1 – Bucket Wheel Excavator

Option 2 – IPC & Excavator

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SLIDE 15

Ore Mining

  • Surface Miner
  • Ideal - mining flat
  • rebody
  • Low dilution
  • Soft ore = low pick wear
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Torrens Mining Limited

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Float - Leach - Strip Process

Key steps: 1) Ore milling 2) Deslime Feed to Float 3) Float Cu & Co sulphides 4) Leach Float tails & slimes 5) GlySmeltTM float cons 6) Products: EW Copper & Cobalt Carbonate

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Torrens Mining Limited

Undersize

CYCLONE ORE LOG WASHER

Float concentrates

FLOAT PLANT

Slimes Float tails

GLYCINE CONCENTRATE LEACH PLANT

Cobalt carbonate Silver in residues

CYANIDE LEACH COPPER EW PLANT

Tailings Copper Cathodes

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SLIDE 17

LOM Project Plan

  • Production 2019
  • Mine life 14 years (at 1 Mtpa)
  • Recoveries*: 90% of Copper & Cobalt; ~50%

Silver

  • *Based on Bench Testing to date
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Torrens Mining Limited

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SLIDE 18

LOM Production (1mtpa for 14

yrs)

  • Copper cathode:

290M lb

  • Cobalt : 15Mlb
  • Silver:

3.4 Moz

Estimated Gross Revenue >AU$1,400M

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Torrens Mining Limited

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SLIDE 19

Exploration Upside

  • High potential for Sedimentary

Copper

  • Proven exploration potential for

IOCG (Olympic Dam)

  • Brownfields opportunities
  • Established regional targets

Torrens Mining Limited

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SLIDE 20

Mount Gunson Cu-Co-Ag Mining Project

“South Australia’s Next Copper Mine”

August 2016

Torrens Mining Limited

Resource Innovation