Source:
p. 95
Panoramic Resources Ltd. owns 100% interest in the Savannah North Project through it's wholly owned subsidiary Savannah Nickel Mines Pty Ltd.
Summary:
The SNM (Savannah North mineralisation) is based on mining ore associated with the Savannah Intrusion; a palaeo-proterozoic mafic/ultramafic magma conduit. The Ni-Cu-Co rich massive sulphide mineralisation occurs as “classic” magmatic breccias developed about the more primitive, MgO rich basal parts of the conduit.
Magmatic Ni-Cu-Co sulphide Resources hosted by the Savannah North Intrusion (SNI) located to the north of the Savannah Mine.
The Savannah North mineralisation dips moderately (40- 45 degrees) to the north-west and comprises two main zones, the Upper Zone is developed on the basal contact of the North Olivine Gabbro, the second Lower Zone is a consistent remobilised zone of massive sulphide mineralisation, in part associated with the 500 Fault. Both zones are well defined by the drilling and the interpretation is considered sufficiently robust for resource modelling. Additional minor mineralised zones include 5 domains in the hanging wall position to the Upper Zone and a minor mineralized sub-vertical fault.
The Savannah North mineralisation has been defined over a strike length of approximately 1 kilometre with clear indications from geophysics it could extend over 2km. The Resource relates to an area with a strike length of 1,010m from 5,350mE to 6,360mE and extends from 750m to 1,750m below surface with an average domain thickness of approximately 5 metres.
Summary:
Mining Method: Long hole open stoping;
Sub-level interval: 20m;
Minimum stope angle: 50 degrees;
Minimum mining width: 2m;
Stope dilution: 10%;
Stope mining recovery: 95%;
Access: Single decline;
Mining Inventory: 6.07Mt;
Mining rate Average: 0.8-1.0Mtpa.
Source:
Summary:
Savannah ore has been successfully treated through a 1Mtpa SAG mill and flotation circuit since commissioning in 2004. The metallurgical nature of the mineral resource in this estimate has not changed. Metallurgical factors are addressed in Ore Reserve conversion. Preliminary testwork conducted on the Savannah North mineralization has indicated that it has identical metallurgical characteristics as the current Savannah mineralisation.
Recoveries & Grades:
Commodity | Parameter | Avg. LOM |
Nickel
|
Recovery Rate, %
| ......  |
Nickel
|
Head Grade, %
| 1.26 |
Copper
|
Recovery Rate, %
| ......  |
Copper
|
Head Grade, %
| 0.64 |
Cobalt
|
Recovery Rate, %
| ......  |
Cobalt
|
Head Grade, %
| 0.09 |
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Projected Production:
Commodity | Units | Avg. Annual | LOM |
Nickel
|
t
| 9,500 | 66,200 |
Copper
|
t
| ......  | ......  |
Cobalt
|
t
| ......  | ......  |
All production numbers are expressed as metal in concentrate.
Operational Metrics:
Metrics | |
Ore tonnes mined, LOM
| 6.07 Mt * |
Annual processing capacity
| 1 Mt * |
Annual mining rate
| 0.9 Mt * |
* According to 2016 study.
Reserves at June 30, 2019:
Category | Tonnage | Commodity | Grade | Contained Metal |
Probable
|
6,650,000 t
|
Nickel
|
1.42 %
|
94,500 t
|
Probable
|
6,650,000 t
|
Copper
|
0.61 %
|
40,900 t
|
Probable
|
6,650,000 t
|
Cobalt
|
0.1 %
|
6,700 t
|
Indicated
|
7,168,000 t
|
Nickel
|
|
|
Indicated
|
7,168,000 t
|
Copper
|
|
|
Indicated
|
7,168,000 t
|
Cobalt
|
|
|
Inferred
|
3,105,000 t
|
Nickel
|
|
|
Inferred
|
3,105,000 t
|
Copper
|
|
|
Inferred
|
3,105,000 t
|
Cobalt
|
|
|
Total Resource
|
10,271,000 t
|
Nickel
|
1.7 %
|
175,000 t
|
Total Resource
|
10,271,000 t
|
Copper
|
0.72 %
|
74,300 t
|
Total Resource
|
10,271,000 t
|
Cobalt
|
0.12 %
|
12,600 t
|
Commodity Production Costs:
| Commodity | Units | Average |
Total cash costs
|
Nickel
|
USD
|
3.68 / lb *†
|
C1 cash costs
|
Nickel
|
USD
|
2.2 / lb *†
|
Assumed price
|
Cobalt
|
USD
|
10 / lb *
|
Assumed price
|
Nickel
|
USD
|
6 / lb *
|
Assumed price
|
Copper
|
USD
|
2.5 / lb *
|
* According to 2016 study / presentation.
† Net of By-Product.
Operating Costs:
| Units | 2016 |
OP mining costs ($/t milled)
|
AUD
| 55 * |
Processing costs ($/t milled)
|
USD
| ......  |
Total operating costs ($/t milled)
|
AUD
| ......  |
* According to 2016 study.
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2016 Study Costs and Valuation Metrics :
Metrics | Units | LOM Total |
Initial CapEx
|
$M AUD
|
......
|
Sustaining CapEx
|
$M AUD
|
......
|
Total CapEx
|
$M AUD
|
......
|
Net revenue (LOM)
|
$M AUD
|
......
|
Net Operating Income (LOM)
|
$M AUD
|
......
|
Pre-tax Cash Flow (LOM)
|
$M AUD
|
......
|
Pre-tax NPV @ 11%
|
$M AUD
|
......
|
Pre-tax IRR, %
|
|
......
|
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Mine Management:
Job Title | Name | Ref. Date |
.......................
|
.......................
|
Aug 5, 2020
|
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Corporate Filings & Presentations:
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News:
Aerial view:
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