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Browns Polymetallic Ore Deposit




The Browns deposit conists of a sizeable, +80 million tonne deposit of nickel-copper-cobalt, with some poorly defined zones of uranium, and extensive zones of lead-zinc mineralization having been discovered in recent years.

The Browns deposit has a quoted JORC Resource of 84 million tonnes of ore grading 0.78% copper, 0.11% cobalt and 0.12% nickel1. This is a global resource hosted in four separate zones;
# Browns (40Mt @ 0.49% Cu, 4.53% Pb, 0.109% Co, 0.09% Ni, 13ppm Ag)
# Browns East (30.5Mt @ 1.29% Cu, 1.28% Pb, 0.13% Co, 0.13% Ni, 11ppm Ag)
# Area 55 (12.2Mt @ 0.49% Cu, 0.56% Pb, 0.14% Co, 0.14% Ni)
# Mt Fitch (1.3Mt @ 0.60% Cu, 0.2% Co, 0.2% Ni)

The global resources are subdivided into ''oxide'' and ''sulfide'' resources. The oxide resources consist of Supergene or weathered sulfide ore where the ore mineralogy is dominated by metal oxides, hydroxides, Clays and carbonates after the original sulfide mineralogy.


EXPLOITATION

The Browns deposit is currently being developed as a major Base Metals Mine by Compass Resources NL, an Australia n public company, in Joint Venture with Hunan Nonferrous Metals Corporation, a Chinese government company.

The mine is due to be complete in October 2007 and will produce 15,000 tonnes of copper, 4,000 tonnes of cobalt and 4,000 tonnes of nickel per annum, with a mine life of 30 years, mining the oxide and supergene ores. The processing plant includes solvent extraction and electrowinning processing equipment.

The sulfide resources are hosted beneath the supergene and oxide zone ores and as yet no processing plant has been built to treat the pristine sulfide ores.


MT FITCH URANIUM

In 2006, advertised their application for a Mineral Lease over the Mt Fitch uranium deposit. Development of the uranium resources has not been advanced beyond conceptual stages.


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