Maiden Resource at Winu and new discovery
Updated : 07:08
Rio Tinto reveals maiden Resource at Winu and new discovery
28 July 2020
Rio Tinto has today disclosed to the Australian Securities Exchange (ASX) the maiden Inferred Mineral Resource at the 100% owned Winu copper-gold project and revealed the discovery of a new zone of gold dominant mineralisation approximately 2 km east of the Winu deposit in the Paterson Province of Western Australia.
The Inferred Mineral Resource, reported at a 0.2% copper equivalent cutoff, is 503Mt at 0.45% copper equivalent (CuEq). This includes a higher grade component of 188Mt at 0.68% CuEq at a cutoff grade of 0.45% CuEq.
Study work to date suggests the copper mineralisation supports the development of a relatively shallow open-pit mine, combined with industry-standard processing technology that is used at other Rio Tinto sites. Drilling continues to refine the overall geometry of the system and controls. The deposit remains open at depth as well as to the north and southeast. The Winu project team continues to work with local Nyangumarta and Martu Traditional Owners and regulators to progress the agreements and approvals required for any future development. We are targeting first production from Winu in 2023, subject to securing all necessary approvals.
The discovery of a new zone of gold dominant mineralisation approximately 2 km east of the Winu deposit, at a prospect called Ngapakarra, as well as a number of other encouraging drilling results in close proximity to the maiden Winu Resource, provides further encouragement about the potential for the development of multiple ore bodies within one system.
Rio Tinto group executive of Growth & Innovation and Health, Safety & Environment (HSE) Stephen McIntosh, said "We're taking a more agile and innovative approach at Winu, and are working on the studies for a small-scale, start-up operation focused on Winu's higher-grade core as we take another step towards commercialising this deposit. We are also assessing options for future expansion in the Paterson region given the extent of mineralisation identified to date and our large land package."
"The additional exploration results reported today support our view that there is potential to develop the Paterson region into a large-scale operation over time through both our 100% owned tenements and joint ventures. We've so far carried out exploration activity in just 2% of our tenements in the region and we're building on this discovery at Winu with further encouraging results."
Rio Tinto chief executive of Copper & Diamonds, Arnaud Soirat, said "We are very pleased with the progress at Winu as it adds a further option to our strong copper portfolio in a country that is home to many of Rio Tinto's world class operations."
A copy of the full release to the ASX is available on Rio Tinto's website at riotinto.com/invest/financial-news-performance/resources-and-reserves.
Competent Persons Statement
The Competent Person responsible for the information in the release to the ASX on 28 July 2020 that relates to Mineral Resources and Exploration Results is Dr Julian Verbeek. Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the market announcement, that all material assumptions and technical parameters underpinning the estimates in the market announcement continue to apply and have not materially changed, and that the form and context in which the Competent Person's findings are presented have not been materially modified.
Contacts
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Media Relations, United Kingdom Illtud Harri M +44 7920 503 600
David Outhwaite T +44 20 7781 1623 M +44 7787 597 493
Media Relations, Americas Matthew Klar T +1 514 608 4429
Media Relations, Asia Grant Donald T +65 6679 9290 M +65 9722 6028
| Media Relations, Australia Jonathan Rose T +61 3 9283 3088 M +61 447 028 913
Matt Chambers T +61 3 9283 3087 M +61 433 525 739
Jesse Riseborough T +61 8 6211 6013 M +61 436 653 412 |
Investor Relations, United Kingdom Menno Sanderse
David Ovington T +44 20 7781 2051 M +44 7920 010 978
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Investor Relations, Australia Natalie Worley T +61 3 9283 3063 M +61 409 210 462
Amar Jambaa T +61 3 9283 3627 |
Group Company Secretary Steve Allen Rio Tinto plc 6 St James's Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 |
Joint Company Secretary Tim Paine Rio Tinto Limited Level 7, 360 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 |
This announcement is authorised for release to the market by Rio Tinto's Group Company Secretary.
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