Name of the Project
Mt Carrington gold/silver project.

Location
New South Wales, Australia.

Client
White Rock Minerals.

Project Description
An updated scoping study on the Mt Carrington project has delivered a significant uplift in project economics.

The preferred processing flowsheet for the project will consist of:
• a central run-of-mine (RoM) pad, with an RoM bin and primary crusher fed by a front-end loader;
• a coarse ore stockpile, with a reclaim conveyor;
• a lime addition silo on the conveyor feeding the grinding circuit;
• a grinding circuit, requiring about 1800 kW of grinding power, possibly comprising a semiautogenous mill and ball mill, and a regrind ball mill of 200 kW to 250 kW;
• a flotation circuit to concentrate the gold and silver sulphides;
• a cyanide leach and carbon adsorption circuit;
• a standard elution and electrowinning circuit; and
• a gold room, a reagents area, a small lab and workshop.

In Year 3, the silver-dominant pits will be brought into the mine plan. Incremental capital will be spent on the flotation circuit to include a cleaner step, dewatering and concentrate production facility.

The project is expected to produce an estimated 111 000 oz of gold and 7.7-million ounces of silver over a seven-year mine life.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
The project has a net present value, at a 10% discounted rate, of A$60.6-million and a internal rate of return of 103% with a payback of ten months.

Value
The capital cost of the project is estimated at A$24.4-million.

Duration
The scoping study evisages an estimated 12-month design, build and commissioning period.

Latest Developments
White Rock Minerals has launched a definitive feasibility study (DFS) and environmental-impact statement (EIS) for its Mt Carrington gold/silver project.

Initial priorities will be on community consultation strategy and engagement, the preparation and submissions of a preliminary environmental assessment, a geological review of the resource, and a detailed review and start of metallurgical testwork needed to lock down a preferred plant design.

The company raised about A$4.9-million before costs late last year to undertake this work.

Once the DFS and EIS are completed, and the necessary approvals obtained, White Rock will be in a position of already having secured a financing package with Cartesian Royalty Holdings. Under this package the future streaming financing component will provide for the construction and commissioning of the Mt Carrington project, with repayments to be made for a percentage of future gold and silver production.

“The funding proposal will directly provide for construction and commissioning through to commercial production, subject to the successful delivery of the DFS,” White Rock ME and CEO Matt Gill has said.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
White Rock Minerals, email info@whiterockminerals.com.au.