Matala has excellent potential to be developed into production in the near to mid-term. It is has a fully permitted mining licence, its associated environmental permit, and an advanced JORC Code compliant Mineral Resource Estimate, of in aggregate 760,000oz Au.
Cradle Arc has identified the potential to develop a low-cost, profitable 400,000 tpa open-pit mine at Matala and the satellite deposits. The fully oxidised resources are amenable to gravity recovery and subsequent direct cyanidation of the depleted whole oxide material with recoveries in excess of 90%.
Detailed pit designs have been developed for both the Matala and Dunrobin pits based on a gold price of US$1,200/oz (forecast). Mining is to commence at Matala and then transition to Dunrobin as Matala is exhausted. It is anticipated that the deposit will be mined through conventional truck and excavator mining methods and the development plan for Matala involves a single phase pushback to pit depth. A central access ramp will be mined concurrently through each bench as the mine deepens. Run of Mine mineralised material will be loaded in pit with an excavator equipped with a 5.2m³ bucket and transported by 40t articulated dump trucks (ADTs) to the plant/ROM pad. For both open pits, a 5m bench height is planned for the mineralised and overburden material.
Cradle Arc believes that considerable upside potential exists to target further high-grade underground ores and thereby further extend the life of mine, with the known resource at Matala open at depth, as well as sulphide ores at Dunrobin and Chosa. The Company plans to use the resultant surplus cash flow from production at Matala to develop these.
Matala pit shells