Updated Company Presentation
Brisbane, Dec 14, 2021 AEST (ABN Newswire) - Austral Resources Australia Ltd (
ASX:AR1) is a copper cathode producer with significant exploration and development upside and owns and operates the Mt Kelly heap leach SXEW facility, 115km NW of Mt Isa, north Queensland with its Anthill mine in development.
Austral's Anthill Mine has a 5Mt JORC Reserve, containing 47,500t of contained copper. The project is scheduled to produce ~40,000t of Copper cathode over 4 years, from Q2, 2021.
The company has 1,940km2 of prime exploration tenure in the heart of the Mt Isa District in a target rich environment with 49 exploration prospects.
Currently the company is commencing a regional structural geology review, upgrading of historic geophysics and geochemical sampling as a precursor to drilling.
Exploration is to be self funded from Anthill cashflow.
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About Austral Resources Australia Ltd
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction/electrowinning (SXEW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral is developing its Anthill oxide copper mine which has an Ore Reserve of 5.06Mt at 0.94% Cu. The Company expects to produce 40,000t of copper cathode over a four-year period from mid-2022.
Austral owns a significant copper inventory with a JORC compliant Mineral Resource Estimate of 60Mt at 0.7% Cu and 1,940km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world class copper and base metals province. The Company is implementing an intensive exploration and development programme designed to extend the life of mine and increase then review options to commercialise its copper resources.
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