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Australia

McPhillamys Project

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Overview

Mine TypeOpen Pit
StatusInactive / Suspended
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotMcPhillamys Gold Project is one of Australia’s largest undeveloped open-pittable gold deposits.

The Federal Department of Climate Change, Energy, the Environment, and Water received the Section 10 application in October 2020. Minister Plibersek determined to make a declaration over part of the Belubula River, its headwaters, and its springs, which falls within the footprint of the proposed tailings storage facility (TSF) for the Project. The Section 10 declaration prohibits any conduct that will or is likely to, injure or desecrate the declared area.

21 August 2024, Regis advised as follows:
• The Project outcomes of the McPhillamys Definitive Feasibility Study (DFS) are withdrawn.
• The McPhillamys Ore Reserves have been reassessed resulting in the withdrawal of the 1.89Moz of Ore Reserves previously associated with the Project.

The Section 10 Declaration has resulted in the loss of planned access to TSF area. This has made the Project in its current form unviable.

Owners

SourceSource
CompanyInterestOwnership
Regis Resources Ltd. 100 % Indirect
LFB Resources NL (operator) 100 % Direct
The McPhillamys project is owned and operated by LFB Resources NL, a wholly-owned subsidiary of Regis Resources Ltd.

Contractors

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Deposit type

  • Volcanic hosted

Summary:

The Project is within the Silurian-aged Anson Formation of the eastern sub-province of the Lachlan Fold Belt (LFB). Due to its complex tectonic history, the LFB is a highly endowed Palaeozoic mineral province and hosts over 150 million ounces of gold. The deposit is hosted in the Anson Formation to the east of the Sherlock Fault, part of the Godolphin-Copperhania Thrust Fault Zone. The Anson Formation varies in composition from crystal tuffs and agglomeratic, matrix-supported accretions to limestones and siltstones.

The McPhillamys gold deposit lies along one of a series of north-south trending splays/horsetail structures that occur at the inflection of the Godolphin-Copperhania Fault Zone where the orientation changes from NNW-SSE to SSW-NNE. The splays are defined by strong shearing and faulting and continue to the south for over 6km. The deposit is hosted by dacite- rich volcaniclastic rocks of the Silurian-aged Anson formation which vary in composition from crystal tuffs to agglomeratic, matrix-supported accretions.

The volcaniclastics have undergone greenschist facies metamorphism, producing a mineral assemblage of biotite/ chlorite, muscovite, quartz, and k feldspar. This assemblage has been overprinted by a hydrothermal alteration assemblage of quartz + white mica (phengite) + carbonate (ankerite) along with gold and sulphide mineralisation.

Gold mineralisation is located within a shear zone that has been defined over a width of 250 m, 800 m along strike and 700 m down dip (it remains open at depth). The gold mineralised zone trends in a northerly direction and dips steeply at 75° to 85° to the east and plunges moderately 50° to the northnortheast. The mineralisation is bound to the west by the Sherlock Fault and is structurally constrained between a set of normal faults trending northeast, southwest produced by dextral movement along the Sherlock Fault.

The mineralisation is cigar shaped, beginning near the surface and extending near vertically to depth. Grade increases with depth with the highest grades near the bottom of the pit, the key driver of the pit shape.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Gold koz 1871,713
Silver M oz 1.5
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
Hourly processing capacity  ....  Subscribe
Annual ore mining capacity  ....  Subscribe
Annual milling rate  ....  Subscribe
Annual milling capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes milled, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Credits (by-product) Gold AUD  ....  Subscribe
Cash costs Gold AUD  ....  Subscribe
Total cash costs Gold AUD  ....  Subscribe
All-in sustaining costs (AISC) Gold AUD  ....  Subscribe
All-in costs Gold AUD  ....  Subscribe
Assumed price Silver AUD  ....  Subscribe
Assumed price Gold AUD  ....  Subscribe
* According to 2024 study / presentation.
** Net of By-Product.

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) AUD  ....  Subscribe
Processing costs ($/t milled) AUD  ....  Subscribe
G&A ($/t milled) AUD  ....  Subscribe
Total operating costs ($/t milled) AUD  ....  Subscribe
* According to 2024 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M AUD  ......  Subscribe
Sustaining CapEx $M AUD  ......  Subscribe
OP OpEx $M AUD  ......  Subscribe
Processing OpEx $M AUD 924
Refining and transportation $M AUD  ......  Subscribe
G&A costs $M AUD 215
Total OpEx $M AUD  ......  Subscribe
Royalty payments $M AUD  ......  Subscribe
Gross revenue (LOM) $M AUD  ......  Subscribe
EBITDA (LOM) $M AUD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscribe
After-tax Cash Flow (LOM) $M AUD  ......  Subscribe
Pre-tax NPV @ 5.5% $M AUD  ......  Subscribe
After-tax NPV @ 5.5% $M AUD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 13, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 13, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 13, 2024
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Aug 13, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 14, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 13, 2024

Total WorkforceYear
...... Subscription required 2024
...... Subscription required 2020

Aerial view:

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