North Queensland Copper Project
Mt Isa region
Queensland
Breakthrough has entered into a binding agreement to acquire the North Queensland Copper Project in the Mt Isa region.
The Project comprises a total of approximately 952km2 of granted tenure including over 21km2 of granted Mining Leases and includes an existing global JORC (2012) Mineral Resource Estimate (MRE) of 18.8Mt @ 1.07% CuEq for 200kt of contained CuEq metal across the Measured (3%), Indicated (31%) and Inferred (66%) mineral resource categories (refer full table below).
The Project is surrounded by major mining operations and infrastructure. The Hazel Creek and Barbara deposits sit along proven mineralised corridors that have produced multi-million-tonne discoveries.
The Project hosts significant potential to expand on current mineral resources, convert advanced exploration plays into resource and discover new areas of copper and gold mineralisation. High priority target areas include Turpentine Extensions at Hazel Creek, which is approximately only 20 kilometres from Harmony Gold’s (HMY:NYSE) Eva Copper Mine that is currently in development, Barbara Extensions, Strathfield and the 8 Mile Creek area.
| Asset | Resource Category | Tonnes (Mt) | Grade | Contained Metal | ||||||
| Cu (%) | Au (g/t) | Ag (g/t) | CuEq (%) | Cu (kt) | Au (koz) | Ag (koz) | CuEq (kt) | |||
| Barbara | Measured | |||||||||
| Indicated | 5.8 | 0.9 | 0.08 | 1.55 | 0.97 | 52 | 15 | 288 | 57 | |
| Inferred | 0.7 | 0.91 | 0.06 | 1.72 | 0.96 | 6 | 1 | 38 | 6 | |
| Total | 6.5 | 0.9 | 0.08 | 1.57 | 0.97 | 58 | 16 | 326 | 63 | |
| Mt Colin | Measured | 0.2 | 2.3 | 0.5 | 2.71 | 5 | 3 | 6 | ||
| Indicated | 0.3 | 1.4 | 0.3 | 1.64 | 4 | 3 | 5 | |||
| Inferred | 0.1 | 1.6 | 0.3 | 1.84 | 2 | 1 | 2 | |||
| Total | 0.6 | 1.8 | 0.4 | 2.13 | 11 | 7 | 13 | |||
| Turpentine | Measured | |||||||||
| Indicated | ||||||||||
| Inferred | 8.7 | 1.03 | 0.16 | 0.34 | 1.16 | 90 | 46 | 96 | 101 | |
| Total | 8.7 | 1.03 | 0.16 | 0.34 | 1.16 | 90 | 46 | 96 | 101 | |
| Turpentine South & Eight Mile Creek North | Measured | |||||||||
| Indicated | ||||||||||
| Inferred | 3 | 0.68 | 0.13 | 0.2 | 0.79 | 20 | 12 | 19 | 23 | |
| Total | 3 | 0.68 | 0.13 | 0.2 | 0.79 | 20 | 12 | 19 | 23 | |
| Total | Measured | 0.2 | 2.3 | 0.5 | 2.71 | 5 | 3 | 6 | ||
| Indicated | 6.1 | 0.93 | 0.09 | 1.55 | 1 | 56 | 18 | 287 | 62 | |
| Inferred | 12.5 | 0.94 | 0.15 | 0.39 | 1.06 | 118 | 60 | 153 | 132 | |
| Total | 18.8 | 0.96 | 0.14 | 0.76 | 1.07 | 179 | 81 | 441 | 200 | |
Notes:
- Mineral Resource Estimates are reported using a variety of cutoff criteria (NSR) depending on which is best suited to each deposit
- Discrepancy in summation may occur due to rounding
- A detailed description for each Mineral Estimate is provided for in later sections of this announcement.
