Consists of approximately 84 square kilometres (28 units) and has within its boundaries the village of Burraga, which is a short distance from the Lloyd’s Copper Mine. The Lucky Draw Gold Mine is located in the north-east sector of the tenement.
The Lloyds Copper Mine produced 19,443 tons of Copper from 469,626 tons of ore implying a recovered grade of 4.14% Cu, between 1880 and 1920, then intermittently up to 1961. The initial focus for copper exploration is the confirmation of extensions to the original Lloyds Mine ore body
The scoping study commissioned assesses the commercial potential of reprocessing the tailings, slag and minor hard rock resources from the surface of Lloyds Mine, and concludes that such a project, subject to further testing and financial investigation, is financially and commercially viable with start-up capital expenditure estimated at $10.8 million, generating a net profit of $75 million over 4.4 years of operation.
HDY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held