Aurelia breaks ground at the Federation Project
Aurelia Metals Limited (ASX:AMI) (Aurelia or the Company) has made exciting progress achieving several critical milestones in the progression of its Federation Project, including commencing excavation of the box cut for the exploration decline.
Located 10km south of the Company’s Hera Mine in central-western NSW, the Federation Project centres on the development, mining and processing of high grade polymetallic zinc, lead, gold, silver and copper mineralisation that was discovered in April 2019. It is set to leverage key existing infrastructure and provide operational continuity at Hera, sustaining up to 250 regional jobs.
Aurelia Managing Director and CEO Dan Clifford commented:
“We are excited to have made such strong progress over recent months towards the development of the Federation Project. In less than three years, the project has advanced from the discovery drill hole to the excavation of the exploration decline box cut, which is an industry leading timeframe and a credit to the outstanding efforts of our employees and contractors.
“Delivery of these recent milestones demonstrates our commitment to rapidly developing one of Australia’s highest grade metalliferous deposits and our confidence in the returns that the project will deliver to our shareholders.
“The progressive construction of the exploration decline will allow us to further understand this fantastic mineral asset. We continue to work towards finalising the Feasibility Study mid-year and demonstrating a technically and economically attractive development project that also includes substantial further upside potential via extension of the Federation deposit – the limits of which we haven’t yet discovered. Three drill rigs continue to operate on site, actively testing extensions to the current margins of mineralisation, with the deposit remaining open along strike in both directions and at depth.”