| Announcement Date: | 2022-12-05 |
|---|---|
| Announcement Type: | Pre-Feasibility Study |
| Announcement Code: | JORC |
| Company name: | Castile Resources Ltd. |
| Project name: | Rover |
| Location: | Australia |
| Commodities: | Gold,Copper,Cobalt |
| Highlight: | Pre-Feasibility Study result incl. Post Tax NPV (6.5%) of AUD $247.6M & IRR of 30.5% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | The Directors of Castile Resources Limited (“Castile” or “the Company”) are pleased to present the outcomes of the Preliminary Feasibility Study (“PFS”) undertaken on its 100% owned Rover 1 Project near Tennent Creek in the Northern Territory of Australia (“Rover 1”). The Mineral Resource Estimate evaluated by the PFS was The total material evaluated for the PFS consisted of both Ore Reserve and Inferred Mineral Resource, both diluted to the required minimum mining width and a 95% mining recovery rate applied. Section 13.5 of the PFS contains a sensitivity analysis with respect to the ore tonnes mined at the Project. Access to the ore body will be via a decline from a box cut opening. Ore will be won via conventional up-hole open stoping methods, with paste fill to selected stopes. Rover 1 will be an important part of the economic landscape in Tennant Creek and the surrounding Barkly Region. We take our obligations to the traditional landowners, to our environment and to the local communities and stakeholders as an integral part of the development pathway to a sustainable mining operation. Castile will develop an underground mine, minimising the surface disturbance and the effect on our surrounding environment. The processing plant will be modular in design and the processing method will ensure our waste will be benign material that can be safely stored in our tailings storage facility. |
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