Strategic Minerals PLC Leigh Creek Copper Mine - Revised PEPR Submitted (5270X)
January 05 2022 - 6:33AM
UK Regulatory
TIDMSML
RNS Number : 5270X
Strategic Minerals PLC
05 January 2022
5 January 2022
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Leigh Creek Copper Mine
Revised PEPR Submitted
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a profitable
producing mineral company , is pleased to advise the market that
its wholly owned subsidiary Leigh Creek Copper Mine ("LCCM" or the
"Project") has today re-lodged the Project's Program for
Environmental Protection and Rehabilitation ("PEPR") to the
Department of Energy and Mining ("DEM") of South Australia
addressing the conditional elements of the DEM's July 2021
approval.
The long lead time, in responding to the conditional PEPR
approval, reflected the need to collect samples of cover for the
waste rock dumps and the subsequent testing and analysis of this
material in an erosion model to evaluate cover designs. This work
was accelerated, as much as possible, by calling on existing
networks and working closely with the consultants undertaking the
work.
The other major component of the work was the evaluation of the
Potential Acid Forming ("PAF") nature of the ore and waste rock.
This required selecting and then collecting samples from the 2019
drilling program and undertaking Acid Rock Drainage and kinetic
testing. In a boost for the Project, this work identified that the
waste rock at Paltridge North has a low capacity to produce acid,
and this low capacity PAF material can be co-disposed with run of
mine waste, which has adequate neutralising capability.
This, version 9 of the PEPR, reflects the agreement arrived at
early with DEM to submit this PEPR as a "oxide only" PEPR, with
highlighted statements to easily adjust for the transitional ore
case. The Company expects to receive DEM's approval for the oxide
only case, which should cover the first 12+ months of production
and then follow up with revision 10 of the PEPR, which will address
only the additional mining of the transitional ore. The Company
considers that this process will not impact the expected timing or
economics for the Project, as previously disclosed to the
market.
Commenting, Alan Broome AM, Non-Executive Chairman of Strategic
Minerals, said:
"The Company has worked closely with the DEM and feels confident
that its review of the submitted PEPR revision will be assessed in
less than the maximum statuary requirement of three months.
"Whilst no guarantees can be provided, the Company is hopeful
that, after this revision has been assessed by the DEM and subject
to receipt of Project funding, it will be in a position to commence
operations at LCCM."
For further information, please contact:
+61 (0) 414 727
Strategic Minerals plc 965
John Peters
Managing Director
Website: www.strategicminerals.net
Email: info@strategicminerals.net
Follow Strategic Minerals on:
Vox Markets: https://www.voxmarkets.co.uk/company/SML/
Twitter: @SML_Minerals
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc
+44 (0) 20 3470
SP Angel Corporate Finance LLP 0470
Nominated Adviser and Broker
Matthew Johnson
Ewan Leggat
Charlie Bouverat
Notes to Editors
Strategic Minerals plc is an AIM-quoted, profitable operating
minerals company actively developing projects tailored to materials
expected to benefit from strong demand in the future. It has an
operation in the United States of America along with development
projects in the UK and Australia. The Company is focused on
utilising its operating cash flows, along with capital raisings, to
develop high quality projects aimed at supplying the metals and
minerals likely to be highly demanded in the future.
In September 2011, Strategic Minerals acquired the distribution
rights to the Cobre magnetite tailings dam project in New Mexico,
USA, a cash-generating asset, which it brought into production in
2012 and which continues to provide a revenue stream for the
Company. This operating revenue stream is utilised to cover company
overheads and invest in development projects aimed at supplying the
metals and minerals likely to be highly demanded in the future.
In May 2016, the Company entered into an agreement with New Age
Exploration Limited and, in February 2017, acquired 50% of the
Redmoor Tin/Tungsten project in Cornwall, UK. The bulk of the funds
from the Company's investment were utilised to complete a drilling
programme that year. The drilling programme resulted in a
significant upgrade of the resource. This was followed in 2018 with
a 12-hole drilling programme and the resource update that resulted
was announced in February 2019. In March 2019, the Company entered
into arrangements to acquire the balance of the Redmoor
Tin/Tungsten project which was settled on 24 July 2019 by way of a
vendor loan which was fully repaid on 26 June 2020.
In March 2018, the Company completed the acquisition of the
Leigh Creek Copper Mine situated in the copper rich belt of South
Austra lia and brought the project temporarily into production in
April 2019. The project has been granted a conditional approval by
the South Australian Government for a Program for Environmental
Protection and Rehabilitation (PEPR) in relation to mining of its
Paltridge North deposit and processing at the Mountain of Light
installation.
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