Aurelia Metals Limited announce it has received Development Consent from the New South Wales (NSW) Department of Planning and Environment to develop the high-grade, polymetallic Federation Mine, 10 kilometres south of its Hera operation in central-west NSW. The Federation Mine development will extract high-grade zinc and lead, as well as copper, gold and silver ore over an initial life of eight years with a production capacity of 600 thousand tonnes per annum (ktpa). Aurelia has already meaningfully progressed project development under a pre-existing approval to construct an exploration decline. The Company has completed the majority of essential surface and
civil works at the Federation site, and excavated the decline to 80m above the uppermost ore production level. Once underground work recommences, Aurelia will drill from underground aiming to extend the life of
Federation, which remains open in multiple directions with high potential to expand the known extent of the deposit. The site itself will have a small disturbance footprint given most activities will occur underground.
Aurelia will process the ore mined at Federation through its existing processing plants at the Company's nearby Peak and Hera operations. Concentrate product will be trucked and railed to port
using the Company's established transport routes. The use of existing infrastructure delivers a capital efficient project with low development risk. Aurelia expects to announce a funding solution to finance the development of the Federation Mine by the end of the March quarter and, soon after, mobilise the resources required to continue excavation of the decline to access the high-grade Federation orebody. Based on this timeline and the ability to
leverage existing infrastructure, the first high-grade Federation ore is expected to be processed within 12 months of work recommencing.