CuFe’s Gecko Copper Resource Surges 400%, Orlando Project Economics Strengthen
CuFe Ltd has announced a dramatic 400% increase in contained copper at its Gecko project, alongside an upgraded Orlando resource and a $5.4 million capital raise to advance its Tennant Creek development plans.
- Gecko project resource jumps to 18.4MT @ 2.01% Cu with 400% more contained copper
- Orlando resource now 56% indicated, improving confidence in deposit quality
- Tennant Creek total resource ranks among Northern Territory’s largest copper-gold deposits
- Orlando open pit scoping study shows robust economics with NPV up to $462 million
- Successful $5.4 million private placement completed post-quarter to fund growth
Resource Breakthrough at Gecko
CuFe Ltd (ASX, CUF) has delivered a standout quarterly update, revealing a substantial upgrade to its Gecko copper-gold project in the Northern Territory. The JORC-compliant resource now stands at 18.4 million tonnes grading 2.01% copper and 0.25 grams per tonne gold, marking a 400% increase in contained copper metal. This leap not only elevates Gecko’s profile but also establishes it as one of Australia’s larger bismuth deposits, with nearly 14,000 tonnes of this critical mineral identified for the first time.
Orlando Project Advances with Higher Confidence
Alongside Gecko, CuFe has enhanced the Orlando deposit’s resource classification, with 56% now in the Indicated category, up from 42%. This upgrade signals greater geological confidence and supports the economic viability of the project. A scoping study released during the quarter highlights the Orlando open pit’s strong financial metrics, estimating a net present value (NPV) of $355 million on a 100% basis, which rises to $462 million when applying spot commodity prices at the time of the study. Notably, these figures assume the full capital cost of a new processing plant, underscoring the project’s inherent robustness.
Tennant Creek Project Emerges as a Major Copper-Gold Hub
Combining the updated resources at Gecko and Orlando, CuFe’s Tennant Creek project now boasts a total resource of 24.3 million tonnes grading 1.8% copper and 0.56 grams per tonne gold. This positions Tennant Creek among the Northern Territory’s largest copper deposits, reinforcing CuFe’s strategic foothold in a historically prolific mining region. The company is actively pursuing further drilling and exploration to expand these resources and unlock additional value.
Iron Ore Potential and Strategic Funding
Beyond copper and gold, CuFe reported encouraging high-grade iron ore assay results from its Camp Creek tenement, with rock chip samples reaching up to 67.91% iron content. This proximity to the Yarram iron ore project and Darwin port could offer logistical advantages for future development. Financially, CuFe strengthened its position post-quarter with a $5.4 million private placement, providing the necessary capital to advance exploration, resource maturation, and project studies across its portfolio.
Looking Ahead
With regulatory approvals in place to drill up to 90 additional holes in the Tennant Creek region and ongoing updates to capture bismuth content in Orlando, CuFe is poised to refine its resource base further. The company’s collaborative approach with alliance partners to share processing infrastructure costs could enhance project economics and reduce capital exposure. While cash at quarter-end was $1.07 million, the recent capital raise ensures CuFe is well-funded to pursue its near-term objectives.
Bottom Line?
CuFe’s resource upgrades and funding boost set the stage for accelerated development, but upcoming exploration results will be critical to sustaining momentum.
Questions in the middle?
- How will the inclusion of bismuth impact CuFe’s strategic positioning and project economics?
- What are the timelines and expected outcomes for the upcoming Orlando resource update incorporating bismuth?
- Can CuFe’s alliance partners effectively share processing costs to improve the Orlando open pit’s financial profile?
