The Myra Falls orebody is a classic Volcanic Hosted Massive Sulphide (VHMS) deposit. It is a composite of sulphide lenses that were emplaced in a very dynamic, rapidly changing environment of submarine volcanism, massive debris flow, and constant tectonic activity. This active period was followed by a time of quiet, widespread sedimentation (cherts and argillites). The second cycle of volcanic activity and mineral emplacement subsequently occurred producing the Lynx-Myra-Price deposits.

Sulphide ore deposits are structurally controlled along narrow rift and trough features that have produced a system that is at least 10 km in length. The Myra ore deposits are situated in a Paleozoic group of rocks known as the Sicker Group, which comprises four main lower units that make up the stratigraphic package hosting the Price Deposit. The units that are proximal to the project area are the Price Formation, Myra Formation, Thelwood Formation, and Flower Ridge Formation. The Myra and Price Formations are unconformably overlain by the rocks of the Thelwood Formation and the Flower Ridge Formation.

The H-W Horizon (H-W Rhyolite and Sulphide Facies) and the Lynx-Myra-Price Horizon are the main oreproducing units at NMF. The HW Horizon is the oldest unit of the Myra Formation. It is predominantly a rhyolitic volcano-sedimentary package, comprising coarse volcaniclastics, sandstones, and mudstones, with massive quartz-feldspar porphyry bodies near the top of the horizon ........

Mining activities occur within the following areas:
- The Myra, the Lynx, the HW mining area;
- The Price mining area.

Current underground mining methods utilized at Myra Falls depend on orebody geometry and include drift and fill, cut and fill, drift, and sublevel longhole open stoping. Some surface mining is still conducted within the Lynx open pit. Hydraulic backfilling uses pyritic mill cycloned tailings. Approximately 55% of the tailings are pumped underground for this purpose.

A target throughput of 800,000 tpy of ore and estimate the operation has approximately 10 years of reserves. 2022 production was not meeting the 800,000 t expectation, although production was significantly higher than in 2021. After re-starting following infrastructure upgrades and closing again for compliance reasons in 2018, the mine reopened in April 2019 and have continued.

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