Viscaria economics improve for Avalon
PERTH (miningweekly.com) – An updated scoping study into ASX-listed Avalon Minerals’ Viscaria copper/iron project, in Sweden, has increased the project’s net present value (NPV) by some $46-million.
Avalon reported on Thursday that the project’s NPV was now estimated at $97-million, based on the base-case openpit mining scenario.
The updated study incorporated recent drilling results, and estimated a production of some 10 000 t of copper and 343 000 t of iron a year, at a cash cost of $0.65/lb, over a seven-year mine life.
“By recalculating the base-case openpit mining scenario using the upgraded interim D zone mineral resource announced last week, and revised openpit slopes, the net present value has increased to $97-million, which is an excellent achievement,” said Avalon MD Jeremy Read.
He noted that the increased economics proved that Avalon was well on its way to delivering on the development case identified in the October scoping study.
“As the D zone resource-extension drill programme still has around 30% to go to complete the planned programme, there is still potential to continue to grow the D zone mineral resource and deliver further value creation through conversion of exploration targets to mineral resources, which should further increase the net present value of D zone,” said Read.
Avalon was currently assessing various options for underground mining the plunging shoots of around 2% copper-equivalent mineralisation at the D zone, and believed that there was further value to be created through understanding the full underground mining potential of the area.
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