News
Aurelia refines its Federation Feasibility Study
Community centre is a battle zone
Aurelia Metals has made refinements to their Federation Mine Feasibility Study which the company reports has mitigated cost escalations and contributed positively to the project’s valuation. The Federation deposit, a high-grade zinc, lead and gold mineralization, near Nymagee was discovered in April 2019 and received Development Consent in March this year. The company has reported the refinements of the Feasibility Study have resulted in improvements across the board, including in mine planning, ore flows for processing, capital scope refinement and definition, and leveraging the asset and infrastructure from their Hera Mine which is currently transitioning to care and maintenance. Building on the original Feasibility Study, the updates – outlined in the ‘Federation Project Update’ ASX Announcement – include an improved path to first ore production, lower capital expenditure, and a mine design that optimises efficiency and operability. Aurelia’s Interim Chief Executive Officer, Andrew Graham said the changes will beneThe Cobar Youth & Community Centre has been running a range of fun school fit the company and its shareholders. holiday activities including the very popular Nerf Gun Wars. Pictured in the ‘war “This update to the Federation Mine Feasizone’ on Monday afternoon are (back row) Ashton White, Senio Taufao and Corey bility Study demonstrates the compelling value of Federation to Aurelia, with a reNorris with Jake McCormack, Zayden Howard and Julius Blackmore at front. duced capital cost estimate, greater definition around the Project scope and earlier Lic # MD057428 stope ore production contributing positively ABN 50 021 709 070 to the Project NPV,” Mr Graham said. “This is a pleasing result given the significant inflationary pressure being experienced by the minerals industry and is a testament to Aurelia’s ability to leverage our extensive asset base in the Cobar Basin which is in close proximity to Federation. We have plenty of trailers in stock “Our funding process is well advanced which will support remobilisation of Red- Single Tandem Flat Tops path to Federation with development of the Axles Axles & Tippers decline expected to restart towards the end of this quarter,” he said.
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Wednesday April 19, 2023 The Cobar Weekly Page 9
