Mount Carbine owner EQ Resources is advancing preparations to reopen the 430m long historical decline at the Far North Queensland tungsten mine.
The company says it has received the green light from the Department of Environment and Science to allow underground sampling and exploration.
“This is another positive step towards our aim of being a pre-eminent tungsten producer in Australia,” chief executive officer and senior technical adviser Kevin MacNeill said.
“There is significant value in the Mount Carbine resource, and we are heading in the right direction to understand how best to mine it efficiently and maximise value for the company and its shareholders.”
The company is already operating a quarry at Mount Carbine, north-west of Cairns, and retreating waste stockpiles from former mining activity to produce tungsten concentrates.
The next step in reopening the decline after receiving the Federal permission, by way of an amended Environmental Authority, is to submit a report to the State Department of Resources setting out the detailed project plan
The company has engaged John Murphy of Northern Consultancy Services Australia as a specialist consultant for the drafting and completion of the Facility Description Report, and this report is expected to be finalised by April 2021.
Once safe access has been secured, channel samples and several bulk samples will be assayed and tested in the Mount Carbine operation’s XRT sorter and gravity plant.
Upon receipt of anticipated positive results, additional drilling would be undertaken to define the first few years of mining reserves.
This information would form the basis for a feasibility study for the high-grade underground mining operation, EQ Resources said.
EQ Resources was formerly know as Speciality Metals International. A
special resolution was passed by shareholders at the 2020 Annual General Meeting to change the company name.