If you would like to learn more about future focusIR related events and roundtables, please submit your details here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFML.L Regulatory News (FML)

  • There is currently no data for FML

Benkala Project Update

24 Jun 2010 07:00

RNS Number : 1256O
Frontier Mining Ltd
24 June 2010
 



 

 

FRONTIER MINING LTD

("Frontier" or the "Company")

Frontier Breaks Ground at Benkala Copper Project

 

Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, today announced that KazCopper LLP ("KazCopper"), its 50% owned joint-venture company managing its Benkala Copper development project, has commenced construction of its open pit mine.

 

The Company has received technical and regional authority to remove a total of 3 million cubic metres in 2010 and has begun initial stripping. The technical details of the pit are provided in the table below. Extraction will be performed by 3 hydraulic excavators; materials will be transported by 45 tonne Belaz trucks. Waste rock will be stored in a dump located 1.5km from the pit and the ore stockpile will be located adjacent to the processing facilities which are now under construction approximately 1.5 km from the pit.

 

Photographs of the beginning of the construction process can be seen on the Company's website at www.frontiermining.com.

 

 

Pit Parameters

Name

Unit

Value

Width

Meters

272

Length

Meters

952

Depth

Meters

27

Flitch Height

Meters

7

Bench Height

Meters

12

Road Width

Meters

14

Road Gradient

%

10

Road Length

Meters

169

Safety Berm Size

Meters

8

Final Pit Wall Angle

Degrees

44

Waste Extracted

Cubic Meters

4,321,002

Ore Extracted

Tonnes

50,200

 

 

In addition to the commencement of development of the open pit, the Company completed construction of one electrical power line to the site in 2009 and a second line is scheduled for completion in 2010. As previously announced, the Company's 2009, 6,000 meter, 54 hole drilling programme and initial assay results continue to confirm prior resource base estimates Further confirmation testing is scheduled for the second half of 2010 with Alex Stuart Laboratories and the Company remains on track to complete a JORC compliant resource estimate by year-end 2010. The Company plans initially to develop the Benkala oxide copper resource with a 7,000 tonne per year SX-EW facility with cathode capacity. In June, 2010, the Company executed a contract with Calder Projects, an Australian engineering and design firm for detailed engineering design of the Benkala process plant and the Company has identified key vendors for plant equipment and construction work for site infrastructure. The Company is targeting initial production at Benkala in the first half of 2011.

 

Erlan Sagadiev, CEO of Frontier, commented: "Development of our flagship Benkala copper project is now well underway. The commencement of stripping at the pit is a significant step forward for Frontier. After many years of hard work by the team at KazCopper we are delighted that mine pit construction has now begun and that we are in a position where we can see the finish line."

 

Enquiries:

Frontier Mining Ltd

George Cole

+44 (0)20 7898 9019

 

Libertas Capital

Sandy Jamieson

+44 (0)20 7569 9695

 

Walbrook PR

Bob Huxford / Leah Kramer

+44 (0)20 7933 8780

 

 

Notes to Editors:

 

About Frontier Mining Ltd: 

Frontier Mining Ltd. is a mineral exploration and development Company that was incorporated in the state of Delaware, USA, on 5 August 1998 for the purpose of exploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties.

Frontier currently owns two licenses in Kazakhstan. They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI which holds the Benkala licence. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd. Frontier has one producing gold mine, Naimanjal; one pre-feasibility stage gold project, Koskuduk; and the recently acquired 50% interest in the Benkala copper mine.

Frontier also has a potential copper porphyry deposit with associated gold and molybdenum, Baitimir; and several copper/gold prospects along a 25-km trend including both VMS and porphyry types. Metallurgical tests on its Beschoku and Yubileiny copper projects confirm the oxide copper ore is amenable to extraction using low cost SX-EW technology.

 

Frontier owns a 50% interest in KazCopper LLP, the joint venture company that owns the Benkala copper-molybdenum-gold deposit located in north-western Kazakhstan within the Urals gold/copper ore belt.

 

A Competent Persons Report ("CPR") valuation report on the oxide section of the Benkala project completed by Wardell Armstrong International ("WAI") in June 2010 has resulted in an NPV of $190 million based on 0.5% diluted copper grade, 63% recovery and 185 000 ton of contained metal and 6,000 USD per tonne copper price. The oxide copper project represents development of approximately 10% of the total resource at Benkala and Frontier will use the production platform of the SX-EW project to finance further evaluation and technical studies required to advancedevelopment of the significant Benkala sulphide resource.

 

Issued Share Capital

Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.

Frontier now has 917,336,219 issued and 21,812,009 reserved options giving 939,148,228 fully diluted ordinary shares. 

 

For further information please visit; www.frontiermining.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCUOVURRAANUAR
Date   Source Headline
23rd Jan 20127:01 amRNSFrontier Completes Acquisition of South Benkala
18th Jan 20127:00 amRNSHolding(s) in Company
12th Jan 20127:00 amRNSAdditional Benkala Project Funding
19th Dec 20117:00 amRNSOfficial Opening of Benkala Copper Project
14th Nov 20117:00 amRNSBenkala Operational Update
29th Sep 20117:00 amRNSHalf Yearly Report
5th Sep 201111:26 amRNSResult of AGM
5th Sep 20117:00 amRNSAGM Update
16th Aug 20117:00 amRNSFunding of $5m completed
12th Aug 20114:23 pmRNSNotice of AGM
3rd Aug 201110:35 amRNSDirector/PDMR Shareholding
28th Jul 20117:45 amRNSSale of Maminskoye
27th Jun 20117:00 amRNSFinal Results
15th Jun 20117:22 amRNSOff-take and associated funding completed
6th Jun 20117:00 amRNSBoard Appointment
16th May 20117:00 amRNSBenkala Pit Optimisation Study Released
12th May 20117:00 amRNSMaminskoye Gold Deposit Resource Estimate approved
9th May 20117:00 amRNSPurchase of South Benkala Copper Project
9th May 20117:00 amRNS$5 million funding completed
9th May 20117:00 amRNSIncrease and extension to Zere loan facility
27th Apr 20117:00 amRNS2011 Mining Operations start at Koskuduk
21st Apr 20113:07 pmRNSDirectorate Change
18th Apr 20117:00 amRNSBoard Appointment
13th Apr 20117:00 amRNSChange of Adviser
11th Apr 20117:00 amRNSFrontier Completes Acquisition of Coville
23rd Mar 20117:00 amRNSOre Stockpiling Operations Commenced at Benkala
21st Mar 20117:00 amRNSKey Decision on Coville Acquisition
17th Mar 201110:39 amRNSDirector's Dealing
9th Mar 20117:00 amRNSUpdate on Status: Acquisition of Coville interests
7th Mar 20117:00 amRNSBenkala BFS team established
28th Feb 20117:00 amRNSHSBC Project Funding
14th Feb 20117:00 amRNSUpdated JORC Resource Estimate
7th Feb 20117:00 amRNSBoard Appointment
2nd Feb 20117:00 amRNSOperational Update
13th Jan 201112:36 pmRNSDirector/PDMR Shareholding
12th Jan 20118:45 amRNSIssue of Shares
31st Dec 201010:44 amRNSIssue of Shares
20th Dec 201012:52 pmRNSPlacing to raise £4 million
17th Dec 20107:00 amRNSCompletion of Re-Domicile
1st Dec 20107:00 amRNSCompletion of JORC Resource Estimate
26th Nov 20102:31 pmRNSDirectorate Change
25th Nov 20107:00 amRNSAppointment of non-executive director
24th Nov 20104:38 pmRNSDirector/PDMR Shareholding
22nd Nov 20108:54 amRNSReplacement: HSBC Project Funding
22nd Nov 20107:00 amRNSGold Production Update
18th Nov 20104:30 pmRNSDelay to Re-domicile
8th Nov 20101:17 pmRNSSpecial Meeting
29th Oct 20104:30 pmRNSDirector Shareholding
18th Oct 201012:30 pmRNSSchedule 1 - Frontier Mining Limited
18th Oct 201010:56 amRNSStatement re Re-Domicile

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.