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Preliminary studies by the company indicate a new open-pit mine can be built there to exploit mineral resources to a depth of approximately 125 meters below surface, and a smaller higher-grade underground mine simultaneously developed below this facility.
The newly agreed Manaila Carlibaba exploitation licence area covers 138.6 hectares, an increase of 410% in surface area from the existing area. This size also allows for a larger mining and processing facility to be developed that would eliminate the current need to transporting mined ore elsewhere, added the company.
A survey of the Manaila Carlibaba exploitation perimeter in 2018 found contains a JORC 2012 compliant measured and indicated mineral resource of 3.6Mt grading 0.93% copper, 0.29% lead, 0.63% zinc, 0.23g/t gold and 24.9g/t silver with Inferred Mineral Resources of 1.0Mt grading 1.10% copper, 0.40% lead, 0.84% zinc, 0.24g/r gold and 29.2g/t silver.
