Aurelia Metals (ASX:AMI) said its board approved the development of the Great Cobar base metals-gold project in New South Wales, according to a Wednesday Australian bourse filing.
The project includes production of 77,000 tonnes of copper, 84,000 ounces of gold, and 505,000 ounces of silver over an eight-year life of mine. With processing planned through the existing Peak processing plant, the firm forecasts average recoveries of 95% grade copper and 84.9% grade gold.
The underground mine development is scheduled to commence in the first quarter of fiscal 2026 and first stope ore is currently planned for the third quarter of fiscal 2028.
It also has exploration upside with prospectivity to build on the copper resource through exploration drilling from underground.
Its shares rose 13% on market close on Wednesday, reaching its highest point in over two years.
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