Scoping study provides confidence in Mt Carrington – White Rock
PERTH (miningweekly.com) – A scoping study by ASX-listed White Rock Minerals has estimated that the Mt Carrington gold project, in New South Wales, could deliver about 30 000 oz/y of gold, over a three-year mine life.
The company reported on Tuesday that the openpit operation would require a capital investment of A$20.6-million, with capital costs estimated at around A$875/oz.
The project was expected to have a net present value of A$25.3-million and would have an internal rate of return of 51%.
The scoping study was designed to focus on the openpit development and processing of two gold-dominant resources that contain about 60% of the total indicated and inferred gold resource of Mt Carrington.
The remaining five gold and silver deposits would be considered for development in future stages.
White Rock MD Geoff Lowe said on Tuesday that the company was pleased with the results of the scoping study for Mt Carrington, as it provided confidence that the company had the right ingredients to underpin the feasibility study of an “attractive and financially robust” project.
“We have deliberately considered the development of a staged process in order to minimise upfront capital outlay, manage operating risk and provide time for a rebound in the silver price. This approach provides the ability to develop the second stage gold deposits and third stage silver deposits in a structured manner, which can take advantage of Stage 1 cash flow, and the establishment of an efficient processing circuit.”
Lowe said that the company would now look to undertake a definitive feasibility study on the project, and to progress the necessary regulatory approvals.
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