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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: ASX:FXR
News: Latest news
Web Site: Fox Resources
Other Articles: 26-11-200922-05-200909-02-2009

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Fox Resources

Fox Resources

Fox Resources is a diversified base metals explorer and producer with nickel, copper and zinc projects in the Pilbara of Western Australia, committed to growth through production expansion, diversification and exploration success.

Tuesday, December 01, 2009

Fox Resources announces a return to production in 2010

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Nickel and copper exploration company Fox Resources (ASX: FXR) is set to commence the development of a base metals heap leaching operation at Radio Hill, located in the Pilbara region of Western Australia.

The Company aims to develop an initial five-year mine life with commissioning expected to occur in the September quarter of 2010.

In May 2009, Fox announced that metallurgical testwork was underway to explore the possibility of a new heap leaching operation. In September 2009, the total mineral resources at Radio Hill increased by 307% from 988,000 to 4.02Mt @ 0.51% nickel and 0.89% copper.

The testwork was originally expected to take up to 12 months to complete, but based on the most recent successful column recoveries of nickel, copper and cobalt metal and production of high value end products the Company has decided to proceed with plans to return to production.

This development represents a new approach to the Company’s assets, with cost savings of approximately $16 million expected in year one due to the absence of mining and crushing required for material stockpiled on surface. Surface material is estimated to contain 4,000 tonnes of nickel metal and 4,000 tonnes of copper metal.

Fox Resources managing director Bruno Seneque said the heap leaching operation was very economical with minimal environmental impact.

“Today’s milestone represents an exciting new growth phase for Fox,” Mr Seneque said.

He said the Company’s existing infrastructure is expected to speed up construction of the back-end processing plant.

There also exists the potential to utilise disseminated resources available from the Sholl complex (Sholl B2, B1, and Razerline), which has the potential to increase mine life beyond five years.

Disseminated ore from Fox’s Sholl deposit was previously heap leached by Titan Resources NL as part of a large field based, pilot scale operation with a 5,000 tonne heap and another 8,000 tonne heap.

Irrigation of the initial 5,000 tonne heap commenced in May 2000 and by October 2000, nickel recovery into solution reached 74%, rising to approximately 90% following re-stacking of the heap.

Work has commenced at the Sholl resource with a view to increasing mine life further.

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