Projects & Royalties

Bullfinch (Copperhead)

Project: Bullfinch (Copperhead)
Commodity: Gold
Royalty: 10% NPI
Subsidiary: Altus Royalties Holdings Ltd
Location: Australia
Deposit Style: NNW trending Bullfinch greenstone belt
Key Attributes: Previous drilling indicates further mineralisation at depth
Asset Stage: 1.5Moz of historical production between 1910-2000
Results: 3.5Mt at 5.2g/t for 590koz contained gold (2016), with 90% in Indicated Resource category
Next Phase of Work: Brownfields exploration
Deal Partner: Shandong Tianye Group
Deal Terms: Acquired from Newcrest Mining

Project Overview

Bullfinch (Copperhead) forms part of the Southern Cross Operation owned by Barto Gold Mining and managed by Minjar Gold The operation is located in the heart of the Southern Cross Greenstone Belt, which hosts a known gold endowment of >10Moz. Southern Cross Operations hold 585km2 in tenement holdings. Southern Cross is supported by all the necessary infrastructure to deliver on its current Life of Mine plan, including a 1Mtpa processing plant linked to gold deposits by private haulage roads, 320+ person camp at Marvel Loch, offices and workshops, grid power, water supply, rail access, highway access and airports.

Bullfinch (Copperhead) covers M77/480 located around the historic Copperhead open pit mine. The mine is situated 1km east of the town of Bullfinch and 35km north of Southern Cross on Western Australia’s Archaean Yilgarn Craton. The Bullfinch greenstone belt trends NNW with a strike length of 170km and a width of 7km. It comprises a layered sequence of ultramafic and mafic rocks overlain by metasediments. These greenstones are bounded by granitoids to the east and west and form the northern section of the larger Southern Cross Greenstone Belt. The mineralisation at Copperhead is found in the lower stratigraphic units of the mafic-ultramafic sequence, within 150 m of the eastern contact of the greenstone belt with coarse, banded granitoids.

The mine commenced production in 1910 and produced 0.567 Mt at 11.2 g/t Au. From 1952 to 1962, mining extracted ore from both open pit and underground producing 3.253 Mt at 4.9 g/t Au. Together, production during these periods totalled 21t of recovered gold. Production between 1988 and 1998 totalled ~6.5 t of contained gold. The mine closed in 1998. A Mineral Resources (Indicated and Inferred) was reported for the project in 2016 of 3.533 Mt at 5.2 g/t Au for 590 koz of contained gold.

Royalty Overview

Altus owns 80.1% of a 10% NPI from any mining activities, a royalty generated in the year when BHP sold the licence to Troy Resources.  


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