Metals X plans to increase production and extend the mine life by a decade at the Renison tin joint venture project in Tasmania.
Results from Renison’s Area 5 mining optimisation study unveiled a promising ore reserve of 3.3 million tonnes at 1.87 per cent tin for 61,900 tonnes of contained tin.
The Area 5 project has now increased Renison’s total ore reserve by 46 per cent to 120,300 tonnes of contained tin.
Metals X also completed life-of-mine (LOM) plan for Renison, which was forecasted to produce in excess of 98,000 tonnes of tin in concentrate across the 10-year period.
“Area 5 is an outstanding addition to our already substantial ore reserves at Renison. With a mine life of 10 years, 82 per cent of which is at proved and probable ore reserve status, an increasing production profile driven by the high- grade Area 5, and an operating margin expected to fund the required investment, Renison is well set to deliver substantial returns to Metals X over coming years,” Metals X chief executive officer Mike Spreadborough said.
The Area 5 study began in August last year to delineate the most suitable development and mining strategy for the ore body, including the cost of underground mine infrastructure.
It has unique characteristics from the Renison orebody, including a larger depth, higher tin content and also occurs in a wider continuous zone.
Metals X’s LOM plan also mentioned there is potential to extend mine life beyond 10 years due to Renison’s additional existing mineral resources and exploration.
“Renison is a world class tin deposit and Australia’s largest primary tin producer. The results from the 2020 mineral resource and ore reserve update represent yet another outstanding year for the operation and will support a mine life in excess of 10 years,” Spreadborough said.
“Going forward, our aim at Renison is to continue to increase Ore Reserves net of depletion each year,” he added.