Introduction
Sedimentary basins globally are richly endowed with large base metal deposits. The Selwyn Basin (Canada), host to the Andrew Zinc Deposit, is known to host 17 base metal deposits with 55 million tonnes of contained zinc and lead metal. This places the Selwyn Basin third globally in zinc and lead contained metal endowment behind the Mount Isa – McArthur Basin and Curnamona Craton hosting the enormous Broken Hill deposit in Australia.
Eight of the twelve largest Canadian SEDEX deposits occur within the Selwyn Basin. The Selwyn Basin remains highly prospective and poorly explored.
The Company entered into an Option Agreement to sell the Yukon Base Metal Project on 30 November 2020 for total payments of A$1.65m and a 1% NSR. Full details on the transaction are available in the ASX Release dated 04/12/2020.
Overview
Renegade Exploration’ acquired a 90% interest in the Yukon Base Metal Project in 2007. The Project comprises in excess of 1500 Mineral Claims covering approximately 350km2 within the highly prospective Selwyn Basin, Yukon Territory, Canda. Included in this land package are the high grade Andrew Zinc Deposit, Darcy Zinc Deposit and Darin Zinc Deposits, and several other highly prospective target areas including the Myschka copper-gold target, Scott zinc-lead target, Riedell base metal target, and a large area of unexplored territory.
Mobilisation along the 2008 winter access road
The Port of Skagway, Alaska provides a year round ice free deepwater port to service the Yukon and has existing concentrate loading facilities available for use.
Concentrate loading facilities, Skagway, Alaska
In 2008, Renegade entered into a strategic agreement with a major metals trading house to allow them the rights to sale and market all concentrates produces from the Yukon Base Metal Project. This partnership provides the Company with access to the resources and knowledge of a major industry institution that has global mining, marketing, freight and smelting operations.
Highlights
- Drilled 350 diamond core holes
- Defined JORC Code compliant resources
- Determined metallurgical properties
- Established open pit mining criteria
- Completed environmental baselines
- Commenced heritage surveys
- Established processing facility requirements
- Estimated Capital and Operating Costs
- Secured road access route
- Granted a new 5 Year Mining Land Use Permit in 2014
- Central claims in good standing (without further expenditure obligations) until 2026
JORC Compliant Mineral Resource
Measured, Indicated and Inferred Mineral Resource: 12.6Mt at 6.0% Zn equivalent*
- All deposits open at depth
- Excellent potential for Resource expansion and new discoveries
| Deposit | Measured | Indicated | Inferred | Total | ||||||||
| Tonnes |
Zn (%) |
Pb
(%) |
Tonnes | Zn
(%) |
Pb
(%) |
Tonnes | Zn
(%) |
Pb
(%) |
Tonnes | Zn
(%) |
Pb
(%) |
|
| Andrew | 1,730,000 | 5.3 | 1.7 | 4,730,000 | 6.0 | 1.6 | 190,000 | 4.9 | 1.6 | 6,650,000 | 5.8 | 1.6 |
| Darcy | 1,670,000 | 4.8 | 0.0 | 3,880,000 | 4.7 | 0.0 | 5,550,000 | 4.7 | 0.0 | |||
| Darin | 360,000 | 4.0 | 0.2 | 360,000 | 4.0 | 0.2 | ||||||
| Total | 1,730,000 | 5.3 | 1.7 | 6,400,000 | 5.8 | 1.1 | 4,430,000 | 4.6 | 0.1 | 12,560,000 | 5.3 | 0.9 |
*2% zinc cut-off and 1,000mRL applied
17 February 2017 spot LME metal prices applied: US$2,825/T zinc; US$2,269/T lead
Reassessment of Optimal Development Strategy
- North American mining engineer engaged during 2016
– Assessing lower CAPEX development scenarios - Results anticipated Q1 2017
2012 Mining Study
- Two open pit mines (Andrew and Darcy)
– Extracting 8.0Mt @ 5.0% Zn & 1.5% Pb - 7 year mine life
- Single processing plant:
~ 90,000T Zn con p.a. @ 58% Zn for ~52,000T (115m lbs) Zn
~ 20,000 T Pb con p.a. @ 62% Pb for ~12,400T (27m lbs) Pb - US $0.70/lb operating costs to deliver to port of Skagway (excludes shipping and TC/RCs)
- Potential to expand mine-life with underground mining
High Priority Drill Targets at the Junction Prospect
- Assays up to 0.45% Zn and 6.1g/t Ag
- All four anomalies >2,000m long
- Reconnaissance mapping completed – minimal outcrop
- Extensive zinc-in-soil anomalism delineated at the Junction Prospect in 2014/15
- Size and grade compares very favourably with the Andrew, Darcy and Darin Deposits
- Four very high-priority drill targets for resource expansion (J1 – J4)