Highlights
Managing Director and CEO, Thomas Line, commented: “We are excited to have discovered multiple Platreef-style copper-PGE sulphide reefs from a first pass-reconnaissance drilling program at the Dante Project; the first of its kind in Australia. Our next step is to continue to replicate these results over the extensive strike at the Dante Reefs, ensuring we are well positioned for success.
“It’s clear that there is a concentration and combination of high value metals within the same layers in the Dante Reefs. Chalcocite and bornite appear to be the dominant copper-sulphides. Our highly experienced metallurgical team, led by Dr. Evan Kirby, have already commenced initial metallurgical test work, focusing on the application of conventional flowsheets.
“The discovery of similar style reefs in the Bushveld Province of South Africa has resulted in some of the world’s largest, longest running and most profitable PGE, copper, nickel, gold, vanadium and titanium mining operations with over 100 years of ongoing production. The stratiform reefs of the Bushveld average 1 to 2 metres in thickness and require complex underground mining operations; however, their centennial mine life exemplifies how successful these types of deposits can be. The 120 million tonne Platreef Deposit, which is thicker than the other reefs in the Bushveld, sits 600m beneath the surface requiring immense infrastructure including one of the world’s largest hoist-shaft to extract the ore to the surface.
“The Dante Reefs, however, outcrop from surface over more than 40km of strike, with a gentle dip and an average thickness of approximately 10 metres with a higher-grade basal reef layer, and a second, upper reef layer of lower grade but similar thickness.
“This is just the beginning of the discovery story at the Dante Project, where the vast majority of targets and strike remain undrilled. New insights at the Cronus Prospect are highlighting possible vectors for higher-grade magmatic sulphides. We look forward to presenting these along with further assays in the coming weeks.”
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