Acquisition:
2022 / 08 / 15
Agreement:
Stream
Terms:
80% Ag @ $0/oz capped at A$27M
A$1M per 1.0 Mt tailings ore processed capped at A$10M
The Woodlawn Zinc-Copper Project is a high-grade, volcanogenic massive-sulphide (VMS) deposit situated in New South Wales, Australia, located approximately 50 km northeast of Canberra and 250 km southwest of Sydney.
The Woodlawn deposit is comprised of 12 known sulphide lenses that form three mineralized horizons locally disrupted by faulting. The zinc, copper, and lead mineralization occurs as massive and stringer sulphide lenses, interpreted to have formed both on the sea floor and in coeval mudstones and volcanic breccia flows.
A positive Feasibility Study was completed in mid-2016 and in April 2024, a Production Restart Study was announced that was based on a 0.85 Mt per annum underground mine producing an average 12,000 tonnes of copper and 36,000 tonnes of zinc per annum with a 10-year mine life. The mine plan is underpinned by Underground Proven & Probably Mineral Reserves of 6.0 Mt grading 3.6% Zn, 1.5% Cu, 1.3% Pb, 29.0 g/t Ag and 0.4 g/t Au (at NSR cut-off of A$100/t).
The Mineral Reserves are based on the updated March 2024 Underground Mineral Resource estimate, which consists of:
- Measured Resources of 1,293 kt grading 5.2% Zn, 2.1% Cu, 1.6% Pb, 47.7 g/t Ag and 0.9 g/t Au;
- Indicated Resources of 6,833 kt grading 4.7% Zn, 1.8% Cu, 1.7% Pb, 34.6 g/t Ag and 0.4 g/t Au; and
- Inferred Resources of 3,135 kt grading 8.5% Zn, 1.6% Cu, 1.6% Pb, 70.0 g/t Ag and 0.5 g/t Au
(at NSR cut-off of A$100/t).
