X41 Mine, Mount Isa ù Target Generation on a Mature Mine

Discovered in 1954 and mined since 1966, the X41 copper orebodies have produced over 143 Mt @ 3.3 per cent copper. By June 2002 the production from these orebodies had depleted the Mineral Resource to 36.6 Mt @ 2.8 per cent Cu (including 31.5 Mt @ 2.5 per cent Cu combined 2002 Ore Reserve). Mine production will ramp down to cessation beyond ten years. The 2002 Copper Business Study was commissioned to review the status of the Mount Isa copper business and to optimise the long-term strategy of the operations. The study resulted in a vastly improved geological and geostatistical model, and financial studies led to the optimisation of mine cut-off grades. Utilising these new models, a near-mine target generation workshop was conducted by the copper stream geology team. The workshop focussed on exploration for new ore sources and the extension of existing orebodies to supplement the Mineral Resource inventory for future conversion to Ore Reserves. Several prospective targets were identified and the Conceptual Northern 1100 Drilling program was subsequently designed. This paper shall discuss the practicalities of near-mine target generation in Mount Isa, the issues faced when locating and preparing drill sites in a mature mine environment, and the preliminary results of the drilling program so far.