Australia

Rover 1 Project

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Categories

Overview

Mine TypeUnderground
StagePre-Feasibility
Commodities
  • Gold
  • Copper
  • Iron Ore
  • Cobalt
Mining Method
  • Longhole open stoping
Backfill type ... Lock
Mine Life... Lock
ShapshotThe PFS shows that the Rover 1 Project is commercially viable, and the Board of Castile will now progress the Rover 1 project into a Bankable Feasibility Study (BFS).

Owners

SourceSource
CompanyInterestOwnership
Castile Resources Limited 100 % Indirect
Castile Resources Limited is the 100% owner the tenements ELR29957 and ELR29958 containing the Rover 1 Project. Castile also retains 100% ownership of the five other tenements surrounding the Rover 1 Project that make up the Rover Mineral Field.

Deposit type

  • IOCG

Summary:

The Rover 1 ore system is classified as an Iron-oxide-copper-gold (“IOCG”) style of deposit making it polymetallic in nature with the main minerals of copper and gold existing within a magnetite rich alteration halo. Other by-products of cobalt, silver and bismuth occur with the deposit.

The ore system is a virgin discovery hosted within Paleo-proterozoic meta-sedimentary rocks of the Warramunga Province (Orradidgiee Group). At the Rover 1 site, the host rocks are overlain by a 120-140M sequence of the younger and un-conforming younger sequence of Cambrian-age sedimentary rocks of the West Wiso Basin.

The Rover 1 deposit occurs in a low relief area covered by extensive transported cover lying over approximately 110 metres of flat-lying Cambrian sediments of the Wiso Basin. The basin rocks unconformably overly a Proterozoic basement of the Warramunga Formation which hosts the deposit in the Rover 1 area, consequently, the deposit does not outcrop. Recent dating by the Northern Territory Geological Survey indicates the host rocks are part of the Ooradidgee Group.

The deposit is situated within a sequence of variably altered volcano-sedimentary rocks consisting of interbedded shales, siltstones tuffaceous sandstones and crystal tuff. Alteration grades from distal silica and silica-hematite (historically logged as hematitic shales) to proximal Jasper, quartz-magnetite and magnetite ironstone. Strong late stage chlorite alteration is associated with the ironstone margins and ‘root zone’. The sediment package has been metamorphosed to lower greenschist facies.

Rover 1 consists of three mineralised areas: Jupiter, Jupiter West and Jupiter Deeps. Structural investigations indicate the ironstones are associated with antiformal structures. Economic mineralisation is observed to be associated with steep axial planar shear zones interacting with geology to generate brittle fracturing through competency contrast. These brecciated zones have focused mineralising fluids, resulting in deposition of sulphide phases as crack seal.

The Rover Project is presently considered to be associated with a southern repeat of the 1860- 1850Ma Warramunga Province. Recent dating by the NTGS indicates the host rock date equivalent to the Ooradidgee. This is a weakly metamorphosed succession of partly tuffaceous sandstones, siltstones and turbidite shales. Locally the turbidite metasediments are variably altered by hematite and silica flooding.

Mineralisation is mainly of the Iron Ore Copper-Gold (IOCG) type, particularly the Tennant Creek subtype. Massive ironstone comprised of magnetite or hematite +/-quartz is interpreted to be alteration of metasediments within a structural trap.

Copper manifests as chalcopyrite, associated with breccia fill within magnetite-quartz ironstones and Jasper/BIF that often form an alteration transition to a chlorite alteration envelope. Pervasive subeconomic copper levels can persist throughout the zone. Economic levels of copper are dominantly contained in the lower massive magnetite zone of the ironstone bodies, particularly where intense chlorite alteration replaces magnetite laterally and at depth, grading into magnetite chlorite stringer zones. Gold content is related to an increase in haematite dusted quartz veins, with bonanza grades associated with massive pyrite with subordinate bismuthite. Cobalt appears to have a direct relationship with copper mineralisation.

Dimensions
The Rover 1 deposit is mineralised over a strike length of over 540m, a lateral extent of +70m and a depth of 800m.

Ironstone bodies are oriented eastwest, steeply dipping north with a moderate westerly plunge.

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

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in doré oz 28,700252,300
Copper Metal t 6,90058,600
Iron Ore Concentrate kt 75652
Cobalt Metal t 3002,560
Gold Equivalent Metal oz 85,400
Copper Equivalent Metal t 16,100

Operational metrics

Metrics
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Annual processing capacity  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2022 study.

Production Costs

CommodityAverage
Cash costs Copper Equivalent  ....  Subscribe
Cash costs Gold Equivalent  ....  Subscribe
Total cash costs Copper Equivalent  ....  Subscribe
Total cash costs Gold Equivalent  ....  Subscribe
All-in sustaining costs (AISC) Copper Equivalent  ....  Subscribe
All-in sustaining costs (AISC) Gold Equivalent  ....  Subscribe
Assumed price Iron Ore  ....  Subscribe
Assumed price Cobalt  ....  Subscribe
Assumed price Copper  ....  Subscribe
Assumed price Gold  ....  Subscribe
* According to 2022 study / presentation.

Operating Costs

Currency2022
UG mining costs ($/t milled) AUD 65 *  
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G&A ($/t milled) AUD  ....  Subscribe
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* According to 2022 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscribe
Sustaining CapEx $M AUD  ......  Subscribe
UG OpEx $M AUD  ......  Subscribe
Processing OpEx $M AUD 511.2
G&A costs $M AUD 39.1
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Royalty payments $M AUD  ......  Subscribe
Gross revenue (LOM) $M AUD  ......  Subscribe
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After-tax Cash Flow (LOM) $M AUD  ......  Subscribe
Pre-tax NPV @ 6.5% $M AUD  ......  Subscribe
After-tax NPV @ 6.5% $M AUD  ......  Subscribe
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After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 21, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 5, 2022

Aerial view:

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