All Star Minerals plc is focused on the development of its natural resource properties in Queensland, Australia.
On 12 November 2013, the Company announced that it has acquired a new project in North-West Queensland called The Big One. The cost of the acquisition is Au$150,000, of which Au$10,000 has been paid to date, with the balance of Au$140,000 payable upon the satisfaction of conditions precedent being met by the vendor pertaining to the sale of The Big One.
Location: The Big One is a copper project with a mining lease covering 320 acres in North-Western Queensland. The project is located in a region with an abundance of base metal mineralization, being approximately 100 kilometres North-West of Glencore’s Mount Isa Mines and approximately 20 kilometres South-East of CST Mining Group’s Lady Annie copper mine, as well as a number of other operating mines and deposits.
Geology: The Big One is situated on a North-East striking fault structure, which lies subparallel and approximately 11 kilometres from the Mount Gordon Fault Zone. The deposit lies in the Myally Subgroup within the dolomitic, feldspathic quartzites and sandstones of the Whitworth Quartzite. Fault structures stand proud as hills above the lower lying unfaulted sediments.
The outcropping mineralization at The Big One is predominantly copper lode within vesicular basalt of a fault gouge. The dominant copper mineralization is malachite, whilst chalcocite and azurite are also present.
History: In 1997, 4,000 tonnes were mined at an average copper grade of 4% through rough selection of ore. However, mining was ceased due to the average cost of production being around US$2,000 per tonne, which resulted in the operation breaking even.
Known Resource: Historic drilling of 29 holes to an average depth of around 18 metres below surface has determined that 59,000 tonnes of copper bearing ore is in-situ. Based on a conservative copper grade of 2.2%, being the average grade from the drilling programme – at least 1,298 tonnes of ore is in place (non-JORC).
Post analysis of the 29 holes, it was determined that the higher grade portions of the lode were located to the Eastern end of the deposit, where no drilling had taken place. As a result, the directors of the Company are confident that the known ore body should average at least 4% copper, in line with what rough selection of ore achieved from production in 1997.
Of further significance, copper mineralization was present at the greatest depth drilled, and it is believed a potential leached zone exists below the known supergene. In addition, a large gossanous outcrop is located a couple of hundred metres from the outcropping mineralization. Gossans can be the upper and exposed part of an ore deposit, and is an additional target to potentially expand the resource, along with drilling to depth to target the potential leached zone.
From its analysis to date, the Company is confident that the deposit is considerably larger than what is shown from past exploration.
Planned Development: Prior to the signing of the purchase contract, All Star has been working alongside a local mining contractor who, following a site visit, has confirmed that production of the known resource a The Big One can commence within six months of completing the acquisition.
All Star is now in the process of developing a Plan of Operations that will be submitted to the Queensland Department of Mines for approval. It is anticipated that approval will take two months following submission. Once this plan is approved, minor remediation work will be undertaken to the local road network ahead of production start-up.
A mobile plant will be put in place at the mine site to ensure the copper bearing ore is crushed to an acceptable size. At a later stage the Company will examine the feasibility of adding further enhancements to the plant that will enable it to produce a higher quality product, thereby minimising transport costs and providing the Company with a higher net return.