CuJ U LY 2 0 1 7

CopperOpportunities in New South Wales, Australia

To Adelaide

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Q U E E N S L A N D

V I C T O R I A

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UT

H A

US

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AL

I A

New EnglandOrogen

LachlanOrogen

Murray Basin

Delamerian OrogenCurnamonaCraton

Thomson Orogen

The PeakThe Peak

CSACSA

Cadia ValleyOperations

Cadia ValleyOperations

Tritton operationsTritton operations

NorthparkesNorthparkes

EndeavorEndeavor

ConradConrad

Copper HillCopper Hill

GrasmereGrasmere

PinnaclesPinnacles

BushrangerBushranger

Mallee BullMallee BullMineral HillMineral Hill

WoodlawnWoodlawn

YeovalYeoval

NymageeNymagee

Peak HillPeak Hill

Temora porphyry districtTemora porphyry district

TottenhamTottenham

Lewis PondsLewis Ponds

MarsdenMarsden

Mudgee

DUBBO

Wentworth

Cobar

ORANGE

WOLLONGONG

Nyngan

Walgett

Coonamble Gunnedah

Parkes

Broken Hill

Narrabri

Inverell

Young

Cowra

Goulburn

Griffith

NOWRA

Batemans Bay

Narooma

Bega

Cooma

Moree

WAGGAWAGGA

ALBURY

Grafton

Yamba

Ballina

LISMORE

NEWCASTLE

Balranald

Deniliquin

TibooburraLightning Ridge

Eden

BATHURST

PORT MACQUARIE

COFFS HARBOUR

Kempsey

Taree

Muswellbrook

Bourke

TAMWORTH

Armidale

SYDNEY

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

N

Overview

• New South Wales has a copper endowment (past production and identified resources) exceeding 20.3 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 Au–Cu system (Cadia East and Ridgeway mines) and the Northparkes, Copper Hill and Temora Cu–Au 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 Besshi-style district (Tritton operations)

• Orogenic base-metal deposits including the ‘Cobar’-type Cu-dominant (CSA) and Au–Cu (The Peak) mines, with a distinctive feature of many such deposits being the vertical extent and continuity of individual ore lenses

• 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).

www.resourcesandenergy.nsw.gov.au

Copper production in New South Wales (1987–2016)

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250 000

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2015

Cadia start-up

Global Financial Crisis

Cadia Eaststart-up

Northparkes start-up

Tritton start-upTo

nnes

Financial year (ending 30 June)

Mineral Hillrecommissioned

2016

Prospective terranes

Lachlan Orogen

The 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 deposits) and the late Silurian to Early Devonian Cobar Basin (‘Cobar-type’ orogenic sulfide-rich Cu ± Au deposits — e.g. CSA). Other targets include:

• Cu-rich skarns, high and intermediate sulfidation epithermal deposits

• orogenic 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 Orogen

The 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 areas

There 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’ orogenic 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 type

Total endowment >20.3 Mt; current resources >16 Mt

Skarn

VAMS

Orogenic base metal

Porphyry

Other incl. epithermal, intrusion-related & SEDEX

1.5%7.2%

11.5%

78.8%

1.0%

Table continued on back.

Summary of significant copper resources within NSW

Mine nameDeposit type Current resources and reserves (JORC)

Containedcopper (‘000 t)

Cadia Valley OperationsPorphyry Cu-Au

Cadia East: (probable) 1500 Mt @ 0.48 g/t Au, 0.28 % CuCadia East:(global resource) 3000 Mt @ 0.38 g/t Au, 0.26% Cu

7800

CSAOrogenic base metal

(proved & probable): 5.7 Mt @ 4.12% Cu, 17.5 g/t Ag(measured & indicated): 5.7 Mt @ 5.67% Cu, 24.1 g/t Ag(inferred): 6.3 Mt @ 5.5% Cu, 21 g/t Ag

664

EndeavorSEDEX

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

47

NorthparkesPorphyry Cu-Au

(proved & probable) 102.28 Mt @ 0.6% Cu, 0.26 g/t Au, 2.21 g/t Ag(global resource) 497.86 Mt @ 0.56% Cu, 0.18 g/t Au, 1.75 g/t Ag

2788

The PeakOrogenic base metal

(proved & probable) 2.87 Mt @ 2.89 g/t Au, 6.9 g/t Ag, 1.29% Cu(measured & indicated) 4.1 Mt @ 3.37 g/t Au, 7.5 g/t Ag, 1.04% Cu(inferred) 2.0 Mt @ 3.14 g/t Au, 10.9 g/t Ag, 1.13% Cu

65

Tritton OperationsVAMS

Tritton Underground: (proved & probable) 6.37 Mt @ 1.7% CuTritton Underground: (measured, indicated & inferred) 11.24 Mt @ 1.5% Cu

169

Murrawombie: (probable) 4.041 Mt @ 1.3% Cu (open cut & underground)Murrawombie: (indicated & inferred) 8.04 Mt @ 1.4% Cu

113

Avoca Tank: (probable) 0.68 Mt @ 2.5% Cu, 0.8 g/t AuAvoca Tank: (indicated & inferred) 0.90 Mt @ 2.6% Cu, 0.8 g/t Au

23

Project nameDeposit type

BushrangerPorphyry Cu–Au

(indicated) 25 Mt @ 0.4% Cu(inferred) 28 Mt @ 0.3% Cu

184

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

Ridgeway: (probable) 82 Mt @ 0.54 g/t Au, 0.28% Cu (care and maintenance)Ridgeway: (global resource) 150 Mt @ 0.51 g/t Au, 0.33% Cu

495

Other (Cadia Hill etc.): (proved & probable) 90 Mt @ 0.5 g/t Au, 0.14% CuOther (Cadia Hill etc): (global resource) 310 Mt @ 0.43 g/t Au, 0.16% Cu

496

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

(global resource) within pit shell 153 Mt @ 0.32 % Cu, 0.27 g/t Au, and an additional62 Mt @ 0.28% Cu, 0.18 % Au outside pit shell

663

GrasmereVAMS

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

Lewis PondsVAMS

(indicated) 6.35 Mt @ 2.4 % Zn, 0.2% Cu, 1.4% Pb, 1.5% Au, 68 g/t Ag(inferred) 0.27 Mt @ 3% Zn, 0.1% Cu, 1.9% Pb, 1.1 g/t Au, 96 g/t Ag

13

Mallee BullOrogenic base metal

(indicated & inferred) 3.92 Mt @ 2.3% Cu, 32 g/t Ag, 0.3 g/t Au 90

MarsdenPorphyry Cu–Au

(indicated & inferred) 230 Mt @ 0.17 g/t Au, 0.34% Cu 782

Mineral Hill (care and maintenance)Epithermal

Parkers Hill: (indicated & inferred (oxide): 1.1 Mt @ 0.9% Cu, 3.7% Pb, 0.4% Zn, 70 g/t AgParkers Hill: (indicated & inferred (sulfide): 1.178 Mt @ 1.8% Cu, 1.3% Pb, 38 g/t Ag, 0.3 g/t AuSOZ (H Lode): (global resource) 0.104 Mt @ 1.0% Cu, 0.02% Pb, 0.01% Zn, 1.8 g/t Au, 4 g/t AgSOZ (G Lode): (global resource) 0.339 Mt @ 1.3% Cu, 0.02% Pb, 0.03% Zn, 2.1 g/t Au, 4 g/t AgSOZ (A Lode): (global resource) 0.523 Mt @ 3% Zn, 3.6% Pb, 0.9% Cu, 1.3 g/t Au, 37 g/t AgRed Terror: (global resource) 0.186 Mt @ 1.7% Cu, 0.1% Pb, 0.3% Zn, 2.2 g/t Ag, 2.4 g/t Au

44

NymageeOrogenic base metal

(indicated & inferred) 8.1 Mt @ 1.20% Cu, 0.30% Pb, 0.70% Zn, 9 g/t Ag 97

Temora porphyry districtPorphyry Cu–Au

(indicated & inferred) 279 Mt @ 0.3% Cu, 0.2 g/t Au 837

TottenhamVAMS

Carolina: (indicated & inferred) 3.39 Mt @ 1.5% CuMt Royal: (indicated & inferred) 3.6 Mt @ 0.9% Cu

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www.resourcesandenergy.nsw.gov.au

Further information

The Advanced Mineral Projects & Exploration Highlights in NSW Map summarises recent exploration activities and ore reserve/resource announcements. This map is updated every six months and is available at www.resourcesandenergy.nsw.gov.au

Project nameDeposit type Current resources and reserves (JORC)

Containedcopper (‘000 t)

WoodlawnVAMS

Underground: (probable) 2.8 Mt @ 5.5% Zn, 1.6% Cu, 1.9% Pb, 0.45 g/t Au, 42 g/t AgUnderground: (measured & indicated) 4.1 Mt @ 7.2% Zn, 2.0% Cu, 2.6% Pb, 0.52 g/t Au, 55 g/t AgUnderground: (inferred) 2.5 Mt @ 5.9% Zn, 1.8% Cu, 2.3% Pb, 0.61 g/t Au, 47 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 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 Ag

182

YeovalPorphyry Cu–Au

(inferred) 12.9 Mt @ 0.38% Cu, 0.14 g/t Au, 120 g/t Mo, 2.2 g/t Ag 49PR

OJ

EC

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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.

Contact: mra.info@industry.nsw.gov.au | +61 2 4931 6689

Disclaimer: The information contained in this publication is based on knowledge and understanding at time of writing (July 2017), 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 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.