Australian-based Lafayette Mining is proceeding with a preliminary feasibility study at the Rapu Rapu polymetallic project in the Philippines.
The company heads up a group that can earn a 75% interest in the property from
The study will include 5,200 metres of reverse-circulation and core drilling for metallurgy, as well as resource-definition, geotechnical and hydrological studies. Efforts are focused on the Ungay Malobago open-pit deposit, which an independent scoping study has shown to be amenable to conventional milling and flotation processing.
Updated in situ resources stand at 4.1 million tonnes grading 1.46% copper and 2.33% zinc, as well as 3 grams gold and 37.37 grams silver per tonne. Between 77% and 93% of this resource could be mined at stripping ratios varying from 10.4-to-1 to 14.9-to-1. Operating costs are pegged at US$10.41 per tonne.
Results from the latest two holes drilled include 5 metres (from 160 to 165 metres) grading 1.94% copper, 1.75% zinc, 6.8 grams gold and 36.9 grams silver in hole 30, and 3 metres (from 157 to 160 metres) grading 1.26% copper, 1.15% zinc, 2.19 grams gold and 31.3 grams silver in hole 31.
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