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Australia
Sulphur Springs Project

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 Location:
102 km SE from Port Hedland, Western Australia, Australia

  Project Contacts:
234 Railway Parade, West Leederville
Perth
Western Australia, Australia
6007
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
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  • Mining
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  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit & Underground
Commodities
  • Copper
  • Zinc
  • Lead
  • Silver
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Sub-level caving
  • Longhole open stoping
Mine Life10.3 years (as of Jan 1, 2018)
The Group will continue to advance the development of the Sulphur Springs Zinc-Copper Project and will continue exploration programs in the Pilbara, which may result in additional discoveries. The objective is to have Sulphur Springs shovel ready by the middle of the calendar year 2023.


Owners

Source: p. 36
CompanyInterestOwnership
DEVELOP Global Ltd. 100 % Indirect
The registered owner of the tenement is Venturex Sulphur Springs Pty Ltd, a wholly-owned subsidiary of Develop Global Ltd. The prospects are held by Venturex Sulphur Springs Pty Ltd.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • VMS


Summary:

The Sulphur Springs Copper-Zinc deposit is hosted by the Kangaroo Caves Formation, a volcano-sedimentary sequence within the north-north easterly trending tectonostratigraphic domain known as the Lalla Rookh–Western Shaw Corridor (LWSC) in the central east of the Archaean Pilbara Craton. The deposit is a well-preserved example of an Archaean volcanogenic massive sulphide (VMS) style deposit in a low-grade metamorphic terrain.

The Sulphur Springs mineral deposit is a single, strata-bound VMS mineralising event, which has been off-set into two massive sulphide lenses (East and West) by a post-mineralisation sub-vertical fault. The strike length of the deposit (East to West) is 500m with each lens dipping to the north at approximately 45-55°.


Mining Methods

  • Truck & Shovel / Loader
  • Sub-level caving
  • Longhole open stoping


Summary:

Mining of the Sulphur Springs deposit has been assumed to be by a combination of open pit and underground methods. The open pit mine life is currently projected to be approximately four years immediately followed by the underground for a further six years. The selected mining method, design and extraction sequence are tailored to suit orebody characteristics, minimise dilution and ore loss, utilise planned processing plant capacity and expedite free cash generation in a safe manner. Mining schedules have been based on realistic mining productivities with readily achievable mining rates along with consistent material movements.

Open pit mining dilution and recovery modifying factors were simulated by modelling to a Selective Mining Unit (“SMU”) of 5mX x 5mY x 2.5mZ. The re-blocking technique dilutes fully into the SMU size and the resultant model is then used as a diluted model.

Key parameters used as part of the pit optimisation process included (but are not limited to):
- Assumed average of 1.25Mtpa of ore processing;
- Mining costs derived from submissions received from mining contractors who offered pricings for the previous study;
- Metallurgical recoveries provided by Lycopodium (who completed test work in conjunction with ALS);
- Processing and infrastructure costs provided by Lycopodium (based on an updated and optimised plant design and infrastructure requirements).

The intention is to mine the Sulphur Spri ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal kt 15146
Zinc Payable metal kt  ......  Subscription required  ......  Subscription required
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Copper Concentrate kt 65
Zinc Concentrate kt  ......  Subscription required

Operational Metrics:

Metrics
Ore tonnes mined, LOM 12,554 kt *
Tonnes processed, LOM 12,554 kt *
Annual processing rate 1,225 kt *
Annual processing capacity 1.25 Mt *
Annual ore mining rate 1.25 Mt *
* According to 2018 study.

Reserves at August 31, 2022:
The NSR cut-off grade used for reporting of Mineral Resources at Sulphur Springs was A$80/t.

CategoryTonnage CommodityGrade
Indicated 12,360 kt Copper 1.2 %
Indicated 12,360 kt Zinc 5.6 %
Indicated 12,360 kt Lead 0.3 %
Indicated 12,360 kt Silver 21.9 g/t
Indicated 12,360 kt Gold 0.1 g/t
Inferred 1,401 kt Copper 0.2 %
Inferred 1,401 kt Zinc 6.4 %
Inferred 1,401 kt Lead 0.5 %
Inferred 1,401 kt Silver 38.4 g/t
Inferred 1,401 kt Gold 0.2 g/t
Total Resource 13,760 kt Copper 1.1 %
Total Resource 13,760 kt Zinc 5.7 %
Total Resource 13,760 kt Lead 0.3 %
Total Resource 13,760 kt Silver 23.5 g/t
Total Resource 13,760 kt Gold 0.2 g/t

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Zinc USD 2,650 / t *  
Assumed price Copper USD 2.86 / lb *  
Assumed price Silver USD 19 / oz *  
* According to 2018 study / presentation.

Operating Costs:

Units2018
OP mining costs ($/t milled) AUD 36.9 *
Combined mining costs ($/t milled) AUD  ......  Subscription required
Processing costs ($/t milled) AUD  ......  Subscription required
G&A ($/t milled) AUD  ......  Subscription required
Total operating costs ($/t milled) AUD  ......  Subscription required
* According to 2018 study.
Subscription required - Subscription is required.

2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscription required
Sustaining CapEx $M AUD  ......  Subscription required
Closure costs $M AUD  ......  Subscription required
Total CapEx $M AUD  ......  Subscription required
OP OpEx $M AUD  ......  Subscription required
UG OpEx $M AUD  ......  Subscription required
OP/UG OpEx $M AUD  ......  Subscription required
Processing OpEx $M AUD 402.3
Refining costs $M AUD  ......  Subscription required
Transportation (haulage) costs $M AUD 108,300
G&A costs $M AUD 47.6
Total OpEx $M AUD  ......  Subscription required
Royalty payments $M AUD  ......  Subscription required
Gross revenue (LOM) $M AUD  ......  Subscription required
Net revenue (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
Pre-tax NPV @ 8% $M AUD  ......  Subscription required
After-tax NPV @ 8% $M AUD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of October 10, 2018:
HME TypeModelSizeQuantityLeased or
Contractor
Excavator ....................... Subscription required 120 t ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Financial Review 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2019
Press Release 2018
Feasibility Study Report 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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