Mining Studies

A mining concept study on the Mt Thirsty deposit was carried out for Galileo in 2017 by Mining & Process Solutions Pty Ltd (MPS). The study was based on an assumed production rate of 1 Mtpa and it showed that the Mt Thirsty deposit is amenable to exploitation using a conventional hydraulic excavator – off-road haul truck configuration.

A pit optimisation exercise carried out by MPS based on assumed metal prices and foreign exchange rates resulted in a pit shell comprising two separate pits, one on the eastern side of the deposit and a smaller one lying 300 m to the west of the larger pit. Financial modelling showed that the concept as outlined had economic merit and warranted further study.