CuFe Doubles Orlando Copper-Gold Resource, Boosting Tennant Creek Project

Significant Resource Growth at Orlando Deposit

CuFe Limited (ASX: CUF) has revealed a major uplift in the Mineral Resource Estimate (MRE) for its Orlando Copper-Gold Deposit, located within the Tennant Creek Project in the Northern Territory. The updated JORC 2012-compliant resource nearly doubles the copper metal tonnes and gold ounces compared to the previous 2023 estimate, with copper increasing by 88.6% and gold by 120%. The total gold equivalent ounces have surged by 102% to 579,000 ounces.

The Orlando Deposit now stands at 5.95 million tonnes grading 1.16% copper and 1.5 grams per tonne gold, reported above a 1.0 g/t gold equivalent cut-off. This substantial increase is attributed to a comprehensive re-evaluation of the full drill hole dataset, including previously excluded underground drilling and extensions along strike and at depth.

Enhanced Confidence Through Data Validation

The update was conducted by MEC, who undertook a detailed technical audit and validation of 1,397 drill holes spanning decades of exploration and mining activity. The dataset includes surface and underground drilling, with rigorous quality control measures applied to ensure reliability. Approximately 69% of drill holes were classified with high confidence, while others were carefully assessed for inclusion based on collar accuracy and geological context.

This meticulous approach allowed CuFe to model a resource area over seven times larger than the previous estimate, incorporating mineralisation beneath historical underground workings that had been partially mined in the 1960s and 1970s but left significant copper and gold behind.

Strategic Implications for Tennant Creek Project

The Orlando resource update lifts the combined Tennant Creek Project resource, which includes the Gecko and Goanna deposits, to 10.35 million tonnes at 1.53% copper and 1.07 g/t gold. This positions CuFe’s assets as some of the most significant within the Tennant Creek Mineral Field.

CuFe’s Executive Director, Mark Hancock, highlighted the low-cost nature of the resource growth and its critical role in ongoing development studies. The new resource estimate feeds directly into the Tennant Creek Alliance scoping study, a collaborative effort with Emmerson Resources and Tennant Minerals, aimed at evaluating the most economic development pathways, including open pit and underground mining options.

Historical Context and Future Exploration

The Orlando deposit has a rich mining history, with underground operations commencing in the late 1950s and open pit mining in the 1990s. Historical production records indicate significant gold and copper extraction, but the updated resource confirms substantial remaining mineralisation, particularly at depth.

Looking ahead, CuFe plans to continue detailed mine planning and has initiated a similar review process for the Gecko and Goanna deposits. The company also identifies open mineralisation zones offering potential for further resource expansion through near-mine drilling campaigns.

Technical and Metallurgical Considerations

The resource is reported at a 1.0 g/t gold equivalent cut-off, calculated using current metal prices and recovery assumptions of approximately 88% for gold and 87% for copper. Metallurgical test work supports conventional flotation and CIL processing routes, with ongoing studies to refine recoveries, especially for fresh ore and to manage impurities such as bismuth.

Mining assumptions include conventional open pit cutbacks and underground extraction, with sterilisation of remnant pillars to ensure operational safety. The resource classification reflects the confidence in the data, with indicated and inferred categories assigned based on drill spacing, data quality, and geological continuity.