Projects
Major Mines JV
Major Mines JV Strategy
White Devil Deposit
The Highest Grade Undeveloped +350koz Open Pit in Australia
White Devil has been defined as a Major Mine Deposit under the Emmerson Resources and Tennant Mining JV agreement after completion of the Scoping Study confirming its major mines status.
The White Devil deposit is located approximately 35km north-west of Tennant Creek in the Northern Territory and approximately 48km from the JV partner owned CIL processing facility at Nobles. The deposit consists of a historical underground mine which produced 1.62Mt at a recovered head grade of 14.6g/t gold for 761,072 ounces of gold production. Several ore positions remained unmined, and potential exists for extensions of high-grade gold mineralisation.
Updated Mineral Resource Estimate of 4.7Mt @ 4.1 g/t gold for 616,200 oz of gold:
- Indicated Resource of 4.0Mt @ 4.3 g/t gold for 549,100 oz of gold (89%)
- Inferred Resource of 0.7Mt @ 3.0 g/t gold for 67,100 oz of gold (11%)
White Devil Scoping Study Outcomes
Reported on a 100% basis (PAF 60% ERM 40%)
- 650ktpa operation for +7 years
(~200ktpa “spare capacity” for other & SMJV projects) - Conceptual Production of 450,300oz gold
- Annual Expected Production 64,000oz
- Very low capital cost JV Partner owned process plant in place and operating
- Pre-Production Capital Cost of $11.8m
- Maximum funding requirement $32.8m
- Revenue of ~ $2.25 billion
- All in Sustaining Cost $2,050/oz
- Operating cashflow of $1.27 billion
(ERM 40% – $508 million) - Pre-tax NPV8 of $890 million
(ERM 40% – $356 million)
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Community Engagement
Emmerson Resources engaged the community of Tennant Creek in 2008 as soon as exploration commenced in the Tennant Creek Mineral Field (TCMF).