CuO C TO B E R 2 0 1 9

CopperOpportunities in New South Wales, Australia

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EndeavorEndeavor

ConradConrad

Copper HillCopper Hill

GrasmereGrasmere

BushrangerBushranger

Mallee BullMallee BullMineral HillMineral Hill

CollerinaCollerina

WoodlawnWoodlawn

YeovalYeoval

NymageeNymagee

Temora ProjectTemora Project

Lewis PondsLewis Ponds

MarsdenMarsden

New EnglandOrogen

Lachlan Orogen

Thomson Orogen

Murray Basin

Delamerian OrogenCurnamonaProvince

Mudgee

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WOLLONGONG

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CANBERRA

* Total contained commodity

CSA

Conrad

REFERENCE

Cu occurrence<500 t Cu*500 t to 10 000 t Cu*10 000 t to 50 000 t Cu*>50 000 t Cu*Operating mineProjectExport portRailway Major road, sealedMajor road, unsealedGas pipeline

200 km

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Overview

• New South Wales has a copper endowment (past production and identified resources) exceeding 19.1 million tonnes.

• Copper is either the principal commodity or a significant credit in a diverse range of deposits.

• The state remains under-explored, with a range of opportunities for new discoveries.

Deposit types

New South Wales (NSW) has a diverse range of copper-rich deposits where copper is produced as either the principal commodity (e.g. Northparkes, CSA, Tritton) or as a concentrate with significant copper credits. These copper-enriched systems include:

• Porphyry Cu–Au deposits and related skarn deposits, including the world class Cadia (Cadia East and Ridgeway mines) and the Northparkes, Copper Hill and Temora districts

• Copper-rich volcanic associated massive sulfide (VAMS) deposits hosted by deep marine basins, including the world class Woodlawn Kuroko-style deposit and the deposits in the Tritton–Girilambone district (Tritton operations)

• ‘Cobar-type’ distal intrusion-related Cu–Au deposits (Peak and CSA)

• High and intermediate sulfidation epithermal Au–Cu systems such as Peak Hill and Mineral Hill — some of which are associated with copper-rich porphyry systems

• Significant copper in some Broken Hill-type base metal deposits (Pinnacles — Curnamona Craton) and in a number of intrusion-related polymetallic systems (Conrad and Cangai).

resourcesandgeoscience.nsw.gov.au

Copper production in New South Wales (1998–2019)

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Cadia start-up

Global Financial Crisis

Cadia East start-up

Tritton start-up

Tonn

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Financial year (ending 30 June)

2017

2018

2019

Mineral Hillrecommissioned

Prospective terranes

Lachlan OrogenThe mainly Ordovician to Carboniferous Lachlan Orogen is, in general, poorly explored for copper. Recent exploration has focussed on the large to very large porphyry Cu–Au systems associated with the Macquarie Arc — several belts of volcanic-dominated rocks of Ordovician to Early Silurian age which host the world class Cadia deposits. In addition, the Lachlan Orogen contains many small to large copper-rich deposits associated with Ordovician and Silurian back-arc basins (VAMS-type Cu–Au deposits) and ‘Cobar-type’ sulfide-rich Cu ± Au deposits in the late Silurian to Early Devonian Cobar-Rast Trough, most of which have recently been re-interpreted as intrusion-related (e.g. Peak, CSA). Other targets include:• Cu-rich skarns, high and intermediate sulfidation epithermal

deposits• Sulfide-rich deposits associated with major structures —

some of which have been major producers in the past and• Devonian-age intrusion-related copper-rich systems

associated with units of the Boggy Plain Supersuite (e.g. the Yeoval porphyry Cu deposit).

New England OrogenThe Devonian to Triassic New England Orogen is under-explored by Australian standards. The orogen is host to copper-rich volcanic associated massive sulfide deposits and polymetallic intrusion-related deposits, some of which also contain significant copper. There are also a number of poorly explored porphyry Cu–Au–Mo systems of Permo–Triassic age.

Other areasThere is further significant potential for copper-rich deposits in the following areas:• The northern extension of the Lachlan Orogen — where it is

covered by younger sequences (potential for porphyry Cu–Au and ‘Cobar-type’ sulfide-rich deposits)

• The Neoproterozoic to early Palaeozoic Koonenberry Belt (now interpreted to be a Cambrian Arc built on the rifted margin of Gondwana), which hosts VAMS-type mineralisation including the Grasmere deposit

• Along the edge of the Palaeoproterozoic Broken Hill Block, where there is untested potential for porphyry Cu–Au mineralisation.

Copper endowment (past production + resources) for NSW, classified by deposit typeTotal endowment >19.1 Mt; current resources >15.0 Mt

Distal intrusion-related Cu–Au

SHMS

Porphyry

Epithermal

Orogenic base metal

Intrusion-related

Skarn

VAMS

0.8% 12.7%1.6% 3.4%

4.5%

0.2%

76.1%

0.6%

Summary of significant copper resources within NSWMine nameDeposit type Current resources and reserves (JORC)

Contained copper (‘000 t)

Cadia Valley OperationsPorphyry Cu–Au

Cadia East: (total resource) 2900 Mt @ 0.36 g/t Au, 0.26% CuCadia East: (probable) 1400 Mt @ 0.47 g/t Au, 0.3 % Cu

7540

CSADistal intrusion-related Cu–Au

(measured & indicated): 6 Mt @ 5.53% Cu, 23 g/t Ag(inferred): 5.4 Mt @ 5.37% Cu, 20 g/t Ag(proved & probable): 6.4 Mt @ 3.81% Cu, 15.7 g/t Ag

622

EndeavorSHMS

(total resource) 26.2 Mt @ 6.7% Zn, 4.1% Pb, 62 g/t Ag, 0.18% Cu (proved & probable) 3.7 Mt @ 7.6% Zn, 4.9% Pb, 98 g/t Ag, 0.2% Cu

47

NorthparkesPorphyry Cu–Au

(total resource) 481.52 Mt @ 0.56% Cu, 0.18 g/t Au(proved & probable) 121.17 Mt @ 0.58% Cu, 0.22 g/t Au

2697

Peak Gold MinesDistal intrusion-related Cu–Au

(total resource) 14.210 Mt @ 1.5 g/t Au, 9 g/t Ag, 1.4% Cu, 0.9% Pb, 1.1% Zn(proved & probable) 2.834 Mt @ 2 g/t Au, 15 g/t Ag, 1.1% Cu, 1.8% Pb, 1.9% Zn

199

Tritton OperationsOrogenic base metal

Tritton Underground: (total resource) 9 Mt @ 1.3% Cu, 0.11 g/t Au, 4.1 g/t AgTritton Underground: (proved & probable) 3 Mt @ 1.5% Cu, 0.1 g/t Au, 5.1 g/t AgTritton Pillars: (indicated) 0.17 Mt @ 2.2% Cu, 0.26 g/t Au, 10.9 g/t AgMurrawombie: (indicated & inferred) 5.4 Mt @ 1.5% Cu, 0.3 g/t Au, 5.3 g/t AgMurrawombie Underground: (probable) 1.4 Mt @ 1.8% Cu, 0.3 g/t Au, 8.2 g/t AgMurrawombie Open Pit: (probable) 1.6 Mt @ 0.9% Cu, 0.1 g/t Au, 2.8 g/t AgAvoca Tank: (indicated & inferred) 0.9 Mt @ 2.6% Cu, 0.77 g/t Au, 13.8 g/t AgAvoca Tank: (probable) 0.7 Mt @ 2.5% Cu, 0.8 g/t AuBudgery: (indicated & inferred) 2 Mt @ 1.1% Cu, 0.12 g/t AuBudgerygar: (inferred) 2.3 Mt @ 1.5% Cu, 0.2 g/t Au, 5.2 g/t AgStockpiles: (measured) 0.04 Mt @ 1.6% CuStockpiles: (proved) 0.04 Mt @ 1.6% Cu

290

WoodlawnVAMS

Underground: (measured & indicated) 4.6 Mt @ 6.7% Zn, 1.9% Cu, 2.4% Pb, 0.5 g/t Au, 52 g/t AgUnderground: (inferred) 2.6 Mt @ 5.6% Zn, 1.8% Cu, 2.2% Pb, 0.6 g/t Au, 48 g/t AgUnderground: (probable) 2.8 Mt @ 5.5% Zn, 1.6% Cu, 1.9% Pb, 0.45 g/t Au, 42 g/t AgReclaimed tailings: (measured & indicated) 9.8 Mt @ 2.3% Zn, 0.51% Cu, 1.3% Pb, 0.31 g/t Au,

32 g/t AgReclaimed tailings: (inferred) 1.1 Mt @ 2.3% Zn, 0.47% Cu, 1.2% Pb, 0.25 g/t Au, 27 g/t AgReclaimed tailings: (proved & probable) 9.5 Mt @ 2.2% Zn, 0.5% Cu, 1.3% Pb, 0.31 g/t Au,

31 g/t Ag

200

Project nameDeposit type

BushrangerPorphyry Cu–Au

(indicated & inferred) 52.5 Mt @ 0.4% Cu 185

Cadia Valley Operations (care and maintenance)Porphyry Cu–Au

Ridgeway: (total resource) 150 Mt @ 0.52 g/t Au, 0.33% CuRidgeway: (probable) 80 Mt @ 0.54 g/t Au, 0.28% CuOther: (total resource) 120 Mt @ 0.37 g/t Au, 0.2% CuOther: (proved & probable) 86 Mt @ 0.53 g/t Au, 0.15% Cu

735

Collerina CopperOrogenic base metal

(indicated & inferred) 2.02 Mt @ 2.03% Cu, 0.1 g/t Au 41

ConradIntrusion-related

(indicated & inferred) 2.65 Mt @ 105.3 g/t Ag, 0.20% Cu, 1.33% Pb, 0.53% Zn, 0.22% Sn, 6.8 g/t In

5.3

Copper HillPorphyry Cu–Au

(indicated & inferred) 87 Mt @ 0.36% Cu, 0.32 g/t Au 310

Grasmere -PeverilVAMS

(indicated & inferred) 5.75 Mt @ 1.03% Cu, 0.35% Zn, 2.3 g/t Ag, 0.05 g/t Au 59

JackaderryIntrusion-related

(inferred) 3.2 Mt @ 3.35% Cu, 0.8 g/t Au, 20.17 g/t Ag, 0.37% Zn, 0.005% Co 107

Lewis PondsVAMS

(indicated & inferred) 20.24 Mt @ 0.5 g/t Au, 33 g/t Ag, 1.5% Zn, 0.7% Pb, 0.1% Cu 20

Mallee BullOrogenic base metal

(indicated & inferred) 6.76 Mt @ 1.8% Cu, 31 g/t Ag, 0.4 g/t Au, 0.6% Pb, 0.6% Zn 119

MarsdenPorphyry Cu–Au

(indicated & inferred) 122.97 Mt @ 0.27 g/t Au, 0.46% Cu(probable) 65.17 Mt @ 0.39 g/t Au, 0.57% Cu

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Table continued on back.

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resourcesandgeoscience.nsw.gov.au

Project nameDeposit type Current resources and reserves (JORC)

Containedcopper (‘000 t)

Mineral Hill (care and maintenance)Epithermal

Parkers Hill (oxide): (indicated & inferred) 1.1 Mt @ 0.9% Cu, 3.7% Pb, 0.4% Zn, 70 g/t AgParkers Hill (sulfide): (indicated & inferred) 1.178 Mt @ 1.8% Cu, 1.3% Pb, 38 g/t Ag, 0.3 g/t AuSouthern Ore Zone: (total resource) 1.985 Mt @ 1.2% Cu, 1.4% Pb, 1.1% Zn, 1.8 g/t Au, 19 g/t AgRed Terror: (total resource) 0.186 Mt @ 1.7% Cu, 0.1% Pb, 0.3% Zn, 2.2 g/t Ag, 2.4 g/t Au

58

NymageeDistal intrusion-related Cu–Au

(indicated & inferred) 1.450 Mt @ 2.2% Cu, 0.8% Pb, 1.4% Zn, 18 g/t Ag 32

Temora ProjectPorphyry Cu–Au

The Dam: (indicated & inferred) 40 Mt @ 0.3% Cu, 0.41 g/t AuCullingerai: (inferred) 24 Mt @ 0.3 % Cu, 0.31 g/t AuEstoril: (inferred) 14 Mt @ 0.21 % Cu, 0.35 g/t AuMandamah: (inferred) 26 Mt @ 0.34 % Cu, 0.38 % AuYiddah: (inferred) 127 Mt @ 0.32 % Cu, 0.14 g/t Au

721

TottenhamVAMS

Carolina: (indicated & inferred) 3.39 Mt @ 1.5% Cu, 0.5 g/t AuMt Royal: (indicated & inferred) 3.98 Mt @ 0.9% Cu, 0.3 g/t Au

86

YeovalPorphyry Cu–Au

(inferred) 12.8 Mt @ 0.38% Cu, 0.14 g/t Au, 120 g/t Mo, 2.2 g/t Ag 49

Note: Project totals for contained copper are based on combined resources.

Top left: Circuit board with copper components.

Bottom left: Ore processing mill at Northparkes, near Parkes.

Right: Tightly folded copper-rich (malachite) ore from the Murrawombie pit near Nyngan.

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Contact: mra.info@geoscience.nsw.gov.au | +61 2 4063 6500Disclaimer: The information contained in this publication is based on knowledge and understanding at time of writing (October 2019), using publicly available information. Because of advances in knowledge, users are reminded of the need to ensure that information upon which they rely is up to date. The information contained in this publication may not be or may no longer be aligned with government policy nor does the publication indicate or imply government policy. No warranty about the accuracy, currency or completeness of any information contained in this document is inferred (including, without limitation, any information in the document provided by third parties). While all reasonable care has been taken in the compilation, to the extent permitted by law, the State of New South Wales (including the NSW Department of Planning, Industry and Environment) exclude all liability for the accuracy or completeness of the information, or for any injury, loss, or damage whatsoever (including without limitation liability for negligence and consequential losses) suffered by any person acting, or purporting to act, in reliance upon anything contained herein. Users should rely upon their own advice, skills, interpretation and experience in applying information contained in this publication. The product trade names in this publication are supplied on the understanding that no preference between equivalent products is intended and that the inclusion of a product name does not imply endorsement by the Department over any equivalent product.