Develop (ASX: DVP) has revealed a remarkable 40% surge in the Resource at its Woodlawn copper and zinc mine in New South Wales. This boost, driven by a highly successful exploration and drilling effort uncovering new mineralization lenses, elevates Woodlawn to a substantial scale with promising prospects for additional growth.
The upgraded Resource now stands at 10.3 million tonnes, boasting impressive grades: 1.8% Cu, 6.1% Zn, 2.2% Pb, 47.2gpt Ag, and 0.5gpt Au (4.3% CuEq). The increased tonnages and grades have substantially increased the contained metal, with copper up by 43% to 190,000 tonnes and Zinc by 50% to 620,000 tonnes, totaling 445,000 tonnes of CuEq. This expanded Resource outlook sets the stage for an extension of the mine's life, increasing it from 7 to over 10 years, all within the current processing capacity of 850,000tpa. The Company plans a further update in the March Quarter of 2024, which will contribute to a new mine plan, underlining the Woodlawn mine's ongoing growth potential.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
