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Australia
Savage River UG expansion Project (Savage River)

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 Location:
160 km W from Launceston, Tasmania, Australia

  Project Contacts:
34a Alexander Street
PO Box 659
Burnie
Tasmania, Australia
7320
Phone  ...  Subscription required
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WebsiteWeb
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Overview

StagePre-Feasibility
Mine TypeUnderground
Commodities
  • Iron (magnetite)
Mining Method
  • Block caving
Mine Life10 years (as of Jan 1, 2021)
The North Pit Underground Prefeasibility Study was completed during the 2021 year. The PFS presented a standalone underground case that informs the decision to transition from open pit to an underground mine in the future with demonstrated ore continuity at depth with a 30% (approximately 120 million tonne) increase in Mineral Resources reported in JORC Statement dated 31 March 2022.


Owners

Source: p. 28
CompanyInterestOwnership
Grange Resources Ltd. 100 % Indirect
Grange Resources Ltd. indirectly owns 100% interest in the Savage River mine through it's wholly owned subsidiary Grange Resources Tasmania Ltd.

Contractors

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Deposit Type

  • Metamorphic


Summary:

The Savage River Magnetite deposit lies within and near the eastern margin of the Proterozoic Arthur Metamorphic Complex in north-western Tasmania. This complex is exposed along a northeast-southwest trending structural corridor, The Arthur Lineament, which separates Proterozoic sedimentary rocks to the northwest from a variety of Paleozoic rocks to the southeast (Turner 1990). These Paleozoic rocks include some major mafic and ultramafic intrusive complexes which lie just to the east of Savage River.

The magnetite orebodies are enclosed within a highly sheared and strike faulted belt of mafic and ultramafic schists and mylonite. This belt is 0.5km wide, strikes North-north-east to south-south-west, and is enclosed in a thick sequence of quartz-white mica schist (Whyte schist). Magnetite ore is almost entirely confined within ultramafic rocks, specifically serpentinite and talc-carbonate schist. These ore-bearing ultramafic rocks are exposed in an axial zone above the belt, ranging from about 40 to 100m wide and termed the Main Ore Zone. They also form rare, much narrower (mostly <20m wide) lenses and layers in the mafic sequence to the west.

Magnetite ore ranges from disseminated to massive, with much of the main Ore Zone comprising massive to semi-massive magnetite form 1994 Thornett report on structural and lithological mapping of North Pit and South Lens.

The Savage River ore-bodies occur discontinuously over a strike length of 6km with th ........


Mining Methods

  • Block caving


Summary:

The PFS considered the underground mining methods of block caving (BC) and sublevel caving (SLC). In addition, a Scavenge Mine was designed to recover the ore left in the walls of the North Pit. The Scavenge mine uses the SLC mining method. Non-caving mining methods were not considered in the PFS as they had been ruled unfavourable during earlier concept studies due to higher mine operating costs.

The Exploration Decline has been constructed and provides a platform to access the Scavenge mine. The Scavenge mine commences above the pit floor and does not require extensive dewatering infrastructure for first production and provides access to ore remaining at the margins around the pit. This provides early production while the decline is progressed to the undercut and extraction levels.

The target annual underground mining production rate is limited by the capacity of the pipeline that delivers concentrate slurry from the mine to the pellet plant in Port Latta. Underground development for both the BC and SLC mining options is based on extending and expanding the existing exploration decline development.

The BC will operate with a maximum of 7 loaders feeding 4 truck loading stations. 6 trucks will be utilised to feed the underground crusher, delivering approximately 500,000 tonnes per month of ore to the surface run-of-mine stockpile.

The BC designs and schedules are based on the following design criteria:

• Extraction level ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:
Ore grade is expressed as Davis Tube Recovery (DTR%).

CommodityProductUnitsLOM
Iron (magnetite) Pellets Mt 24
Iron (magnetite) Concentrate kt 25,000

Operational Metrics:

Metrics
Ore tonnes mined, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Mineral Resources estimates above a cut-off grade of 15% Davis Tube Recovery (DTR%).

CategoryTonnage Commodity
Total Resource 120 Mt Iron (magnetite)

Commodity Production Costs:

CommodityAverage
C1 cash costs Iron (magnetite)  ......  Subscription required&nbs
Assumed price Iron (magnetite)  ......  Subscription required *
* According to 2021 study / presentation.
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Operating Costs:

Units2021
UG mining costs ($/t milled) AUD 22 *
* According to 2021 study.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M AUD  ......  Subscription required
Sustaining CapEx $M AUD  ......  Subscription required
Total OpEx $M AUD  ......  Subscription required
Gross revenue (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of December 23, 2021:
HME TypeQuantityLeased or
Contractor
Loader ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required May 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

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