Tony Sage’s Cape Lambert Resources has begun drilling at the Leichardt copper project underneath the Mount Watson open pit.
Located approximately 100km north east of Mount Isa in Queensland, the drilling is designed to assess the potential of treating the underlying transition ore at the Mt Watson open pit through a nearby copper plant; and take advantage of the 21% jump in copper prices over the last year.
The Leichardt project consists of the suspended Mt Watson open pit, a copper cathode plant and 11 exploration permits covering nearly 500 square kilometers.
It is currently on care and maintenance.
Tony Sage stated that the “transition mineralisation at Mt Watson provides an excellent opportunity to define a significant amount of heap leach recoverable copper.
"This, combined with the existing plant and the copper still sitting in the leach pads could potentially allow for a raid restart of operations at the Leichardt Project, at this time of record spot copper prices.”