Tri Origin Minerals Ltd ACN 062 002 475Level 2, 2 O’Connell...

Tri Origin Minerals Ltd ACN 062 002 475
Level 2, 2 O’Connell Street, Sydney. NSW. 2000 Australia
Telephone 02 9221 4322 Facsimile 02 9221 6477 www.trioriginminerals.com.au
2nd April 2006
Lodged by ASX Online – 3 Pages
The Manager - Companies
Australian Stock Exchange Limited
20 Bridge Street
Sydney NSW 2000
Dear Madam,
WOODLAWN UNDERGROUND PROJECT TO PROCEED TO FEASIBILITY
The Board of Tri Origin Minerals Ltd (TRO) is pleased to announce to its
shareholders that the Company has:
• Completed the prefeasibility study for the redevelopment of the
Woodlawn Underground Project and will immediately
commence a definitive feasibility study;
• Scheduled the feasibility study for completion during the first
quarter of next year;
• Scheduled statutory development approval activities in parallel
with the feasibility study;
• Secured the services of a very experienced and well respected
manager who has been appointed to the new position of
General Manager Development; and
• Budgeted $2.6 million to complete the feasibility study and $5
million to access the existing underground workings to ensure
study outcomes are to the requisite level of confidence.
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WOODLAWN
The Woodlawn Underground Project comprises a zinc dominant polymetallic
deposit located approximately 40 kilometres south of Goulburn in New South
Wales.
TRO is evaluating the redevelopment of the underground mine which as
previously reported has a total JORC (Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC Code,
2004 edition)) compliant resource base of 10.1 Mt comprising 8.5 Mt of
combined Measured and Indicated resources grading 10.3% Zn, 1.8% Cu,
4.0% Pb, 0.53g/t Au and 85g/t Ag, with the remaining resources being of
Inferred status.
The prefeasibility study provided the initial assessment of the potential to
economically mine and treat these resources. Although not a definitive study it
identified key issues to be addressed during the definitive feasibility study.
The feasibility study will commence immediately and target:
• An average annual mine production rate of 440,000 tonnes per
annum or greater;
• An initial mine life in excess of 8 years;
• Production of greater than 80,000 tonnes per year of concentrates;
and
• Underground access to confirm operational and mine geotechnical
parameters.
Gaining access to underground through existing development is a priority of
the Company to confirm mine geotechnical parameters within areas of
remnant mining to enable resources to be converted to reserves under the
JORC code. Geotechnical criteria have a significant influence on the proposed
mining methods and operating cost structure. Obtaining access will also
enable the Company to determine the condition of the mine and assist in the
scheduling and costing of various mine rehabilitation and other activities to the
requisite level of confidence.
Tri Origin has budgeted $2.6 million to complete the definitive feasibility study
and a further $5 million to gain access to the underground workings as part of
the evaluation process.
GENERAL MANAGER DEVELOPMENT
Mining engineer Richard Procter has joined the Company and will assume
responsibility for all group development activities. Richard, previously known
to both the executive and the Board of the Company, has more than 30 years
industry experience.
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In the short term he will be responsible for the management of the definitive
feasibility study for the development of the Woodlawn Underground Project.
Amongst the broad industry experience Richard brings to this role is his
expertise in the management of project development activities and feasibility
studies supported by his underground mining experience. His appointment is
significant for the Company and complements and further builds Tri Origin’s
technical services capability and judgement. As a manager, consultant and
executive in previous roles Richard’s experience in base and precious metal
mining projects spans Australasia, Africa, North and South America, Europe
and the Middle East.
In the past Richard has worked in senior roles with Minproc Engineers, Avocet
Gold Ltd, and Lonhro Limited.
His management expertise is complemented with an MBA and a bachelor’s
degree in science, majoring in engineering (University of the Witwatersrand,
South Africa).
For further information, contact Bruce Robertson on (02) 9221 4322.
Yours faithfully,
Tri Origin Minerals Ltd
Bruce Robertson
Managing Director