Australian mining and exploration company Polymetals Resources has launched a mine restart study (MRS) for its Endeavor lead-zinc-silver mine in the Cobar Basin, New South Wales, Australia.
The MRS focuses on recommencing operations at the mine. Earlier this year, the company closed the acquisition of the mine, which is located 40km north-west of Cobar.
Spread across 1,100km², the mine is said to hold highly prospective exploration licences.
It is estimated to hold 16.3 million tonnes of lead, zinc and silver within its mining leases.
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The MRS will take full advantage of the existing infrastructure, the internal and external studies of the previous mine owner and operator CBH Resources, along with actual historical capita and operating costs.
Existing mine and processing modelling will be adjusted for the latest metal prices, inflation and labour conditions.
Metallurgical test work on mineralisation at Endeavor’s upper main lodes will be emphasised, for maximum silver and gold recovery.
Anticipated to complete in Q4 2023, the study will also include other areas such as the 6-6 Stope, North Pods, the Deep Zinc Lode, unmined stopes, as well as remnant mineralisation.
A planned near-term exploration at the mine will include gold and copper occurrences within a large assay of data sets that the company reviewed before acquiring the project.
Polymetals Resources executive chairman Dave Sproule said: “It is pleasing that we are now fully resourced with a competent and experienced technical team and board, which provides the company with its best opportunity to advance the mine restart study and bring the Endeavor Mine back online.
“Given Endeavor’s 38 years of operational history, our familiarity with the Cobar Basin and long-term relationships within the region, I am very confident that we will achieve a positive result from the mine restart study now well under way.”