Aurelia refines its Federation Feasibility Study

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 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 Project Update’ ASX Announcement clude 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 benefit the company and its shareholders.

“This update to the Federation Mine Feasibility Study demonstrates the compelling value of Federation to Aurelia, with a reduced capital cost estimate, greater definition around the Project scope and earlier stope ore production contributing positively 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.

“Our funding process is well advanced which will support remobilisation of Redpath to Federation with development of the decline expected to restart towards the end of this quarter,” he said.

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