Tungsten Ore Industry Developments-V

The Mount Lindsay tin (Sn) and tungsten deposit, which is wholly owned by Venture Minerals Limited (Venture), is located 15 kilometres northwest of Renison Bell tin mine and 20 kilometres west of Rosebery in western Tas. The deposit is in magnetite (Fe3O4) rich skarns within the contact aureole of the Meredith granite, which is part of a suite of Devonian-Early Carboniferous granites that are the source rocks for a number of large tin, tungsten and magnetite deposits in western Tas and on King Island in Bass Strait. The Mount Lindsay tin-tungsten deposit has, as of October 2012, combined resources of 45 Mt at 0.4% Sn equivalent with a 0.2% cut-off, 73% of the resource is in the measured and indicated categories, or 13 Mt at 0.7% Sn equivalent at 0.45% cut-off. As of November 2012, reserves included Proven Reserves of 6.4Mt at 0.2% Sn, 0.2% tungsten oxide (WO3) and 0.1% copper (Cu), and Probable Reserves of 7.3 Mt at 0.2% Sn, 0.1% WO3, and 0.1% Cu, with a contained 30 000 tonnes of Sn. The deposit also includes an iron resource. In late 2012, Venture completed a bankable feasibility study for Mount Lindsay which highlighted the long-term potential of the deposit. Highlights of the study included a 9-year mine life, a plant capacity of 1.75 Mtpa, a payback period of four years and a capital cost of just under $200 million. The study assumed tin prices of US$23 800 a tonne. The company also completed a pilot scale metallurgical program in August 2012 which demonstrated recoveries of 72% Sn and 83% WO3, as well as high grade tungsten concentrate of more than 66% WO3.

 

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