- Develop Global (DVP) updates the mineral resource estimate (MRE) for its Woodlawn Zinc-Copper Mine in New South Wales
- The resource comprises 7.3 million tonnes at 5.7 per cent zinc, 1.8 per cent copper, two per cent lead, 44.9g/t silver and 0.6g/t gold
- Further to the resource, 5.1 million tonnes of mineralisation were identified next to the historical underground workings with grades of 9.1 per cent zinc and 1.6 per cent copper
- DVP has planned 35,000 metres of drilling to convert inferred resources to indicated, extend the mineralised lenses at depth and test electromagnetic conductors and new targets
- Shares in DVP are down a slight 0.86 per cent and trading at $2.30 at 11:44 am AEST
Develop Global (DVP) has updated the mineral resource estimate (MRE) for its recently acquired Woodlawn zinc-copper mine in New South Wales.
The MRE comprises 7.3 million tonnes at 5.7 per cent zinc, 1.8 per cent copper, two per cent lead, 44.9 grams per tonne (g/t) silver and 0.6 g/t gold (13.2 per cent zinc equivalent).
The updated resource contains 4.8 million tonnes of measured and indicated resources, representing two-thirds of the MRE.
The MRE was independently calculated by leading mining and geological consultants Entech.
Further to the resource, 5.1 million tonnes of mineralisation were identified next to the historical underground workings with grades of 9.1 per cent zinc and 1.6 per cent copper.
DVP has planned 35,000 metres of exploration drilling to begin in the December quarter to convert inferred resources to indicated and extend the mineralised lenses at depth.
The drilling will also test highly prospective electromagnetic conductors and new exploration targets.
“The resource is not only large and high-grade, but it is extremely robust due to the application of mineable shapes during the estimation process,” Managing Director Bill Beament commented.
“And the process has also led to substantial high-grade mineralisation being identified near the historical workings. The mined grade of this mineralisation was even higher than the current resource so it could have a significant impact on the overall inventory and mine life.
“Excavations are well underway in preparation for the underground drilling program next quarter. This will enable us to target extensions of the known mineralised lenses at depth accurately and efficiently.”
The updated MRE comes less than three months after Develop completed the acquisition of the Woodlawn project from Heron Resources.
Shares in DVP were down a slight 0.86 per cent and were trading at $2.30 at 11:44 am AEST.