Projects > Copper Projects

Mount Isa Copper Assets

Syndicated Metals holds approximately 1,700km2 of tenements to the north-east and south-east of Mount Isa, in the world-class Mount Isa mineral district of north-west Queensland.

These tenements include the advanced Barbara Joint Venture Copper-Gold Project, located 60km north-east of Mt Isa, a 50/50 Joint Venture with Australian copper producer, CopperChem Limited.

The Barbara Project hosts a Mineral Resource comprising 4.75 million tonnes grading 1.59% copper and 0.15ppm gold for 75,000 tonnes of contained copper and 23,000oz of contained gold. Refer to the Company’s ASX Announcement dated 18 July 2014 for full details of the Mineral Resource upgrade.

A Feasibility Study was completed for an open pit mining operation at the Barbara Project in October 2015. The Feasibility Study was funded and undertaken by CopperChem as part of its earn-in requirements to the Barbara Joint Venture. The Feasibility Study defined a financially robust, short-term open pit copper project (Probable Ore Reserve of 818Kt at 2.23% Cu, 0.20g/t Au and 2.78g/t Ag) with a pre-tax free cash flow of A$17 million, based on total payable metal production of 16,223 tonnes of copper, 2,753oz of gold and 43,327oz of silver.

The Project has an estimated 21-month mine life, based on the development of two open pits with processing to be completed in Cloncurry and Mt Isa under a toll-treatment scenario.

Refer to the Company’s ASX Announcement dated 28 October 2015 for full details of the Barbara Project Feasibility Study.

The Company believes there is significant potential to further enhance the economics of a future mining operation at Barbara through additional discoveries in the near-mine environment.

The Barbara Project remains in a “ready-to-go” state, pending improved economic conditions. The project JV terms require the Barbara JV partners to make a Decision to Mine by May 2019 or the project will revert to 100% ownership by Syndicated Metals.

Syndicated is currently pursuing opportunities to progress and/or monetise the Company’s Queensland copper-gold assets, including the Barbara Joint Venture assets.

Click images to enlarge