Copper cathode production company Austral Resources (ASX:AR1) resumed exploration activities on Saturday (11 March) following the passing of ‘significant’ rainfall events across its exploration portfolio in Queensland.
The company says it completed the dispatch of 134 tonnes of copper cathode from site over the weekend, and that critical supply deliveries to site, including fuel, have restarted.
Austral Resources notes the restart of operations is a testament to its dedicated team on site, which have worked ‘tirelessly’ and in strict adherence to safety protocols in order to ensure the impact to operations was minimal.
The company also notes the ‘significant’ rainfall also caused some dilution of the pregnant leach solution (PLS), which is also expected to impact the performance of the rectiformer in the short term.
However, it is reported no copper has been lost and that it remains within the processing circuit. It is expected this copper will be recovered.
Austral reports following this rain event that the safety of all its staff and contractors, as well as continued management of water and environmental issues remains the top priority.
Further updates to the situation will be released subject to any material changes.
Austral Resources is an ASX-listed production company operating within the Mt Isa region of Queensland. The company currently holds the Mt Kelly copper oxide heal peach and solvent extraction electrowinning plant, which has a nameplate capacity of 30,000 tonnes per annum (tpa), as well as the Anthill oxide copper mine, which has an ore reserve of 5.06 million tonnes (Mt) @ 0.94% Cu.
The company also owns a ‘significant’ copper inventory with a JORC compliant Mineral Resource Estimate (MRE) of 60Mt @ 0.7% Cu (420,000t of contained copper) and about 2,100km-square of ‘highly prospective’ exploration tenure in the heart of the Mt Isa district. Assets that comprise this landholding include the Lady Annie, Anthill, Lady Colleen, Cameron River, and Miranda projects.
Austral expects to produce up to 40,000t of copper cathode over a 4-year period from mid-2022.
Images: Austral Resources Australia Ltd
