Independence Group has a pipeline of projects ranging from early exploration through to various levels of feasibility study and also including the permitting stage. The most advanced of these projects is Stockman, as described below:

Stockman Project, Victoria, Australia (IGO 100%)

Stockman Project Location Map

The Stockman Project is located in Victoria approximately 550km by road, north-east of Melbourne. The project proposes to mine ore from two underground mines and process onsite to produce two separate copper and zinc concentrates for export to international markets.

The one million tonne per annum project currently envisages a nine-year operating life and is located within State Forest on mining tenement MIN5523, approximately 19 kilometres east-south-east of the township of Benambra in the East Gippsland region of Victoria.

Permitting is nearing completion and it is expected that an investment decision on the project would occur in the second half of 2014.

Karlawinda Project (IGO 100%)

The Karlawinda Gold Project is located approximately 1,000km NNE of Perth and 65km SE of the regional mining centre of Newman in Western Australia. The Project is close to key infrastructure such as to the Great Northern Highway and Goldfields Gas Pipeline and covers a previously unrecognised Archaean greenstone belt. It is now the focus of a Scoping Study (ASX Release 28 June 2012).

Karlawinda Scoping Study

The Scoping Study is examining both Carbon-in-Leach (CIL) and Heap Leach processing options for 2.0Mtpa of ore supplied from a relatively large, but low grade, low strip ratio, open pit mine based upon the Bibra deposit. The Project could have an operating life of approximately 8 years.

Initial metallurgical test work has been used to develop a CIL flow sheet and associated design criteria that feature the following circuits:

  • Primary crushing
  • SAG mill, ball mill and pebble crushing
  • Leach and CIL
  • Elution and gold recovery
  • Tailings disposal.

Key features of the test work to date point to relatively standard behaviour of the ore, typical of many other Western Australian deposits. Parameters used in the process design include:

  • Oxide ore grind size of P80 = 150µm
  • Fresh ore grind size of P80 = 75µm
  • Gold recoveries of 90% to 94%, with some potential to improve further, and relatively low reagent consumption.
Karlawinda Project Scoping Study