Core Viewpoint - The approval of the drainage project for the high-grade Copperhead underground gold mine marks a significant milestone in the development of the project, allowing for low-cost water discharge prior to underground mining operations [1][2]. Group 1: Project Approval - The Western Australia government's Water Resources and Environmental Regulation Authority has granted approval for the drainage project based on extensive consultations with relevant authorities and local communities [1]. - The approved plan includes the construction of an evaporation pond above the former tailings storage facility to store and evaporate water extracted from the Copperhead underground mine [1]. Group 2: Project Details - The Cygnet gold project, located approximately 360 kilometers east of Perth, includes the high-grade Copperhead and Golden Pig underground mines, as well as the Corinthia open-pit mine, with a total resource of 2.07 million ounces of gold at an average grade of 2.42 grams per ton [1]. - The Copperhead mine has a current JORC-compliant gold resource of 935,000 ounces at an average grade of 2.35 grams per ton and has historically produced about 1.5 million ounces of gold [1]. Group 3: Company Statements - The company's Executive Director and CEO, Dr. Qiu Yumin, emphasized the importance of the approval for the development of the Copperhead project, particularly for the southern ore body not currently included in the mining plan [2]. - The low-cost drainage method allows for early planning of underground ramp development, which is beneficial for both underground mining and low-cost underground drilling to expand and enhance gold resources and reserves, creating more value for shareholders [2].
中国罕王：高品位 COPPERHEAD 地下金矿收到排水工程审批