Anthill Project

The Anthill Project area lies within the Lady Annie Project and is the next mining center that Austral is moving towards production. It is located 45km from the Mt Kelly processing facility. The Anthill deposit contains a JORC 2012 compliant Mineral Resource estimate of 13.8Mt grading 0.70% Cu:

The oxide copper mineralization at Anthill contains relatively low calcium and magnesium levels and test work has shown that it is suitable for acid leach recovery.

An updated mining study was completed by CSA Global in April 2021 resulting in a JORC 2012 compliant Ore Reserve of 5.1Mt grading 0.94% Cu containing 47.7Kt of copper. The ore will be mined from two pits over a 40 month period. Total recovered copper from the heap leach process will be 40.4Kt over a 44 month period.

Anthill Block Model

3D schematic of the Anthill pit shells and block model. Looking northeast. East pit is 600m wide. First ore from east pit is planned 3 months after commencing pre-strip.