| Announcement Date: | 2022-03-21 |
|---|---|
| Announcement Type: | Pre-Feasibility Study |
| Announcement Code: | JORC |
| Company name: | Metallica Minerals Ltd. |
| Project name: | Cape Flattery |
| Location: | Australia |
| Commodities: | Silica |
| Highlight: | Feasibility Study results incl. post-tax NPV (8%) of A$189.3M & IRR of 27.1% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Queensland-based silica sand developer, Metallica Minerals Limited (Metallica, ASX: MLM) is pleased to announce the completion of its PFS of its 100%-owned Cape Flattery Silica Sand Project. The PFS includes reporting of a Maiden Ore Reserve of 46Mt @ 99.18% Si0₂ (refer table 2 – ore reserves). The PFS has built upon the 2021 Scoping Study (Scoping Study) (refer ASX release 10 November 2021) and incorporated significant third-party information on key project components including processing plant design, mine operations and construction of the Project’s 100%-owned jetty. The PFS also reports C1 operating costs of $33.77/t, which are comparable with the Scoping Study results. Metallica Minerals Limited engaged Mineral Technologies (MT) to complete several detailed metallurgical sample characterisations for the Project, with the objective of confirming the product grades that could be produced. Processing test work on a sub-sample of material from a 914kg composite sample was executed as part of the characterisation studies for the PFS. Further work is underway at the MT Carrara laboratory, with the objective to validate the performance |
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