The Devonian to Carboniferous sedimentary and volcanic package was deformed during the Variscan Orogeny. Crustal thickening of the package during the initial phase of the orogeny followed by subsequent lithospheric extension and crustal subsidence resulted in anatexis of the metasedimentary package and formation of the Cornubian batholith. The Cornubian granite is coarse-grained and enriched in a variety of elements including potassium, lithium, uranium, thorium, tin, tungsten, copper, chlorine, fluorine, and rare earth elements. The enrichment in radiogenic elements such as potassium, uranium and thorium and strong thermal activity has resulted in it being classified as a high-heat producing (HHP) granite.

Metal deposits in Cornwall are directly related to the HHP granites. Slow crystallization and possible internal reheating of the granites are considered to have resulted in fractionation of metals which were transported and concentrated by late-stage meteoric fluids.

The geology of the South Crofty Project area consists of metasedimentary and minor metavolcanic rocks of the Mylor Slate formation, locally known as “Killas” and granite of the Cornubian batholith. The Project area is located on the northwestern flank the Permian Carn Brea granite, the outcrop of which forms the hills of Carn Brea, Carn Arthen and Carn Entral. The Carn Brea granite is a satellite of the main Carnmenellis granite which is the major pluton of the district. The contact of th ........

Mine development will be carried out using trackless rubber tired equipment utilizing ramps and horizontal accesses from the New Cook’s Kitchen Shaft (“NCK shaft”). Existing shafts in the South Crofty Mine will be accessed by the development and will be deepened where necessary for ventilation and manways. The NCK shaft will be the main production shaft after refurbishment once new winder (hoist) components and conveyances are installed and commissioned.

The underground mine production has been scheduled at a steady-state rate of 1,000 tpd on a 7 day work schedule but could be scheduled at 1,200 tpd on a 6 day schedule. The NCK shaft hoisting facility will have the capacity to handle either level of production.

NCK shaft is the main access point for the underground workings, with the vertical shaft extending to a final depth of 769 m below shaft collar. Further sub-declines extend from the lower depths of NCK shaft and reach an eventual maximum depth of 885 m below surface.

Where applicable, stopes will be mined out entirely without any backfill, especially stopes at the top of the mine panel and remnant or isolated stopes. Since the underground ground conditions are expected to be good, and the mine has been operated in the past with minimal backfill, it is expected that stope backfill can either be delayed after a stope is mined or many stopes will not require backfill for ground support.

Within the current estimates to refurbish ........

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