major technical jump coming - this is big, page-9

Matrix sees 2005 start-up at White Range

Tuesday, February 24, 2004
MATRIX Metals managing director Andrew Chapman says the White Range copper oxide bankable feasibility study is looking "excellent", with first production from the operation likely in early-to-mid-2005.

White Range, in Queensland's Mt Isa region, is being examined as a 15,000t per annum copper cathode project, based on a resource of 12 million tonnes grading 1.1% copper.

A previous feasibility study put the capital costs at $20-25 million, but Chapman says the use of a second hand plant would reduce that number significantly.

Matrix already has a plant capable of around 12,500tpa at its Mt Cuthbert project, which may be moved 100km south to White Range.

Other details to emerge on White Range at the RIU Explorers Conference include the mainstay Greenmount deposit having a 2.5:1 stripping ratio, and the significant exploration upside seen in only 3km being drilled out of a total of around 60-70km of prospective strike.

Following White Range the company is earmarking the new Mt Watson discovery as a possible 10,000-15,000tpa development late in 2005 or early 2006.

Meantime, Chapman also said the company had been "tapped on the shoulder by a range of people" interested in the primary copper potential of the company's tenements.