Carnding

 

Carnding

Figure 1.  Carnding Project

Renascor’s Carnding Project contains several near-surface, high-grade gold prospects (up to 16 g/t from previous drilling) in South Australia’s Central Gawler Craton, an emerging gold province.

At Carnding, Renascor is targeting shallow, high-grade gold occurrences. Within the project area, Renascor has identified multiple high priority gold targets based on shallow drilling in areas where regional gold exploration programs defined coincident geochemical and magnetic anomalies after broad-scale and subsequent infill calcrete sampling. 

The prospects remain open at shallow depths and offer drill-ready targets for Proterozoic granite-associated, near-surface, high-grade gold deposits associated with Hiltaba Suite intrusions.

                                                                                       

Soyuz Prospect

 Figure 2.  Soyuz Prospect showing previous drill holes with anomalous Au highlighted, over part of vertical gradient aeromagnetic image

Gold targets identified within the Carnding Project include the Soyuz Prospect, which is defined by coincident magnetic and gravity anomalies and multi-element soil leach sampling has identified multiple geochemical anomalies.

Initial shallow drilling at Soyuz returned anomalous to highly anomalous gold intercepts, including:

  • 7m @ 5.14g/t Au from 26m to end of hole, including 2m @ 16.42 g/t Au from 30m (SZRB006), and
  • 6m @ 4.94g/t Au from 14m (SZRC07)

As shown in the cross-section in Figures 3 and 4 below, the anomalous gold intercepts have defined a coherent zone of gold mineralization at shallow depths.

 Figure 3.  Soyuz Prospect, Section 433380 East showing historic drill holes and gold anomalous intercepts 

 Figure 4.  Soyuz Prospect, Section 433480 East showing historic drill holes and gold anomalous intercepts

Notwithstanding weathering and oxidation, which may have caused gold leaching or enrichment, the results include several significant and anomalous gold intersections over two cross-sections separated by 100 metres.  The gold target zone remains open both at shallow depth and along-strike.

 

Other prospects

The project includes other drill-ready targets, which include large calcrete gold geochemical anomalies with coincident magnetic highs:

  • Sunshine: Limited drilling intersected quartz vein-hosted gold within Challenger host lithology
  • Mir: Anomalous surface geochemical gold in calcrete distribution covering an area of approximately 2.5km2 over intense magnetic high.

The project area also includes several untested  geochemical gold anomalies defined by broad-scale (800m x 1,600m) and subsequent infill (50m x 50m) calcrete sampling.

 

 

 

Siviour

Siviour

Siviour

Highlights of the Siviour Project

  • Globally competitive project economics, including:
    >  Lowest quartile OPEX: AU$450/US$333
    >  NPV10 (after-tax): AU$551m/US$407m
    >  Payback: 1.7 years
  • Competitive flake size distribution and high purities
  • Among largest reported graphite deposits in the world, with unique shallow, flat-lying orientation
  • Australia: low sovereign risk

Read: Siviour Scoping Study [link to ASX release of 23 May 2017]

 




Project Overview

The Siviour Graphite Deposit, located in South Australia’s Eyre Peninsula, is among the world’s largest reported graphite deposits with a Mineral Resource estimate of 80.6 million tonnes @ 7.9% TGC for 6.4 million tonnes of contained graphite, including higher-grade mineralisation of 30.1 million tonnes @ 10.0% TGC for 3.0 million tonnes of contained graphite. Read: Siviour Now Among Ten Largest Graphite Deposits in the World [link to ASX release of 17 March 2017].


Siviour Mineral Resource estimate as of 15 March 2017

Category Tonnes of mineralisation (millions) TGC Tonnes of contained graphite (millions)
Indicated 51.8 8.1% 4.2
Inferred 28.8 7.6% 2.2
Total 80.6 7.9% 6.4

Note: Cut-off grade of 3% total graphitic carbon

Renascor’s recently Scoping Study for Siviour suggests Siviour can produce a high-quality flake concentrate at estimated an operating cost among the lowest of reported graphite developments globally.


Project Location

The Siviour Graphite Deposit is located in South Australia’s Eyre Peninsula, approximately 15km west of the coastal township Arno Bay, 120km northeast of Port Lincoln and 150km southwest of Whyalla.


The project area consists of four granted exploration licences, covering an area of approximately 1,370 km2.

 

Project economics

Renascor has completed a Scoping Study based a 20-year mine life in which the entire Life of Mine (LOM) graphite production target would be entirely included within the existing Indicated Resource of Siviour.  Based on market requirements and potential capital raising capacity, an annual production rate of 123,000 tonnes per annum was selected as the most viable scenario.

The Scoping Study is based on producing flake graphite concentrates from a proposed open pit mine and graphite production plant to be located on the project site in South Australia.  The potential to produce spherical graphite or other advanced materials through downstream processing is to be considered in further studies.

A summary of the key results of the Scoping Study is described below.


Summary of key results from Scoping Study

Annual graphite concentrate production (tonnes per annum) 123,000
Plant throughput (tonnes per annum) 1,650,000
LOM average feed grade (TGC) 8.1%
NPV10 (after tax) AU$551m US$408m
IRR (after tax) 59%
Cash cost of production (per tonne of concentrate) AU$450 US$333
Capital cost (pre-production) AU$144m US$107m
Sustaining capital AU$28m US$21m
Basket sales price AU$1,420 US$1,051
Payback (after-tax) from first production 1.7 years

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