Name of the Project
Federation polymetallic metals project.

Location
Central New South Wales, Australia.

Project Owner/s
Hera Resources, a wholly owned subsidiary of Aurelia Metals.

Project Description
The project is one of the highest-grade base metals development projects in Australia.

Federation is a zinc/lead/copper/gold/silver underground longhole stoping operation, with a rock and paste backfill operation.

Total mill feed is estimated at four-million tonnes over an initial eight-year production life. Expected average steady-state recovered metal production is estimated at 45 000 t/y zinc, 46 000 t/y lead, 1 000 t/y copper, 15 000 oz/y gold and 39 000 oz/y silver.

The project deposit remains open in multiple directions, with substantial potential for resource extension and conversion from planned underground and surface drilling.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value (consensus case), at a 7% discount rate, of A$359-million and an internal rate of return of 61% at spot prices, with a payback of 1.7 years.

Capital Expenditure
Capital expenditure to first production is estimated at A$76-million.

Planned Start/End Date
The project is on track for first stope ore in the first quarter of the 2025 financial year.

Latest Developments
Aurelia has warned that heavy rainfall linked to ex-tropical cyclone Kirrily, which has impacted on much of central and western New South Wales, could potentially affect its project schedule.

Site inspections have confirmed that the water level in the Hera tailings storage facility has risen, but unless there is further rainfall, a discharge event is unlikely, the company has said.

Water entering the mine at Federation has been directed to the underground mine sumps, but pumping water out of the mine may be slowed by the limited available capacity in surface water storage facilities.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Aurelia Metals, tel +61 7 3180 5000 or email office@aureliametals.com.au.