OSBORNE GOLD/COPPER PROJECT
The Osborne Copper Gold Project is located in northwest Queensland. The project has been in operation since 1995 and consists of several copper-gold deposits at various stages of development, and a processing plant. The mineralisation is characterised as belonging to the iron-oxide-copper-gold (IOCG) class of deposits.
In 2011, Ivanhoe commissioned SRK to complete a review of the Osborne Copper Gold Project Study, which demonstrated the economic viability of the project. Following the successful completion of the review, Ivanhoe requested that SRK complete a mineral reserve estimate and NI 43-101 technical report for three deposits within the Osborne Copper Gold Project. The project was split into two areas – Osborne/Kulthor and Starra 276 – with two separate technical reports commissioned.
SRK personnel made site visits in both 2011 and 2012, which provided a valuable opportunity to increase understanding of the interactions between the deposits. A site visit undertaken partway through the development of the mineral reserve estimate allowed SRK to discuss the designs with site personnel and collect feedback pertaining to any significant issues, resulting in some changes to the design and a better understanding of the deposits.
Over a three-year period, the project advanced from a preliminary environmental assessment to reporting Mineral Reserves. The project is now owned by Shanxi Donghui.
