Australia-focused First Tin undertakes optimised DFS based on increased ore reserves at Taronga
First Tin finds in an updated ore reserve statement on the Taronga tin project, in New South Wales, an increase of five-million tonnes of tin to 45-million tonnes grading 0.12%, containing about 55 000 t of tin, in proved and probable ore reserves.
Proven ore reserves increased by 19% from 26-million tonnes grading 0.14% tin to 31-million tonnes grading 0.13% tin, for 41 000 t of contained tin.
The updated ore reserves are contained entirely within the existing pit limits that form the basis of First Tin’s current permitting process, and add about one year to the current mine life.
The company says preliminary pit optimisation using the recently updated mineral resource estimate suggest potential for about 20-million tonnes of additional mill feed and about four years of additional mine life under an optimised scenario – based solely on measured and indicated resources, subject to detailed pit designs, scheduling studies and permitting.
The preliminary pit optimisation study indicates that the pit could extend between 25 m and 50 m deeper than the current pit design envisioned in the definitive feasibility study (DFS) on the Taronga project.
First Tin CEO Bill Scotting says the updated ore reserve statement represents an important step forward for the Taronga project, since the increased proved and probable ore reserves by 13% to 45-million tonnes adds one year to the current mine plan, all within existing pit limits being assessed through the permitting process.
“The combination of increased ore reserves, a lower strip ratio and the potential for a materially longer mine life provides further support for the development of Taronga. We look forward to incorporating this potential upside into the forthcoming optimised DFS.”