The Cloncurry operation includes significant mineral resources and extensive exploration territory in the highly prospective Mt Isa Inlier region of north-west Queensland, together with modern copper and gold processing facilities at The Great Australia Mine (GAM), three kilometres south-east of Cloncurry.
The processing facilities and tenements provide major opportunities for development of a regional processing hub to service the Cloncurry and Mt Isa regions and underpin further project development.
The 700,000 tpa GAM process plant consists of a three-stage crusher and separate gold and copper processing facilities. Gold processing uses a traditional carbon in pulp plant and copper processing is via conventional flotation for sulphide ores, and via heap leach for oxide ores.
The copper plant has been on care and maintenance since 2014 and the gold plant since July 2020.
Prior to decommissioning, the focus of the operation was on gold extraction from ores mined at satellite open pit gold mine. These pits included the Wallace South Mine, 39 kilometres south-east of Cloncurry (mined from June 2018 until December 2019), which providing plant feed until mid-2020, with almost 13,000 ounces of gold produced in the final year of operation. Additional resources/reserves (collectively the Wallace Gold Project) exist for the Wynberg and Wallace east deposits, as well as a remnant resource at Wallace South, and prospects at Victory, Buena Vista and Birdvale.
Restart and expansion desktop studies for both the copper and gold processing facilities were completed in 2020, confirming significant potential.
Round Oak’s Queensland exploration tenement package is centered on the township of Cloncurry in the eastern part of the exposed proterozoic Mount Isa lnlier and covers over 1,450 sq kms across 20 exploration permits and nine mining leases
The Mt Isa Inlier, one of Australia’s premier base metal provinces, has been the subject of a continuous mining history stretching back to 1867 and is host to world-class deposits including Cannington (Ag-Pb-Zn), Mount Isa (Cu, Ag-Pb-Zn), Century (Zn), Ernest Henry (Cu, Au), Osborne (Cu, Au), and the Selwyn group (Cu-Au).
Round Oak’s tenement holdings straddle the Cloncurry lineament, a major deep crustal structure spatially associated with the Cannington and Ernest Henry deposits, and are split into three key tenement packages:
The Hazel Creel and Soldiers Cap tenements each consist of a single tenement having had conditional surrenders and consolidation of the tenements completed in recent years. A similar approach is being implemented for Round Oak’s multiple tenements located around Central Cloncurry.
The tenement holdings boast excellent greenfields and brownfields exploration potential and is prospective for a wide range of ore deposit styles, including: