3 One of the more exciting things we’ve found in recent times is the Victoria mineralisation, which we’ve just started to drill out. We’re discovering very wide zones of high grade zinc and copper mineralisation, which we would expect to be feeding into the Mungana treatment plant when that comes on stream. Victoria is located only 5km to the east of the Mungana deposit. It’s early days for Victoria, but it does have the potential to be larger than anything else we’ve found in the Chillagoe district.
The wild card in our portfolio is a potential large-scale, gold-copper-molybdenum development at Red Dome and Mungana. We will be adding to the existing 53 million tonne resource there this year.
The objective in North Queensland is to maintain at least a five year mine life at all of our operations, collectively producing 45,000 tonnes of copper and 100,000 tonnes of zinc in concentrate per annum.
I believe glengarry resources is part of that annual production in the near future.
GGY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
