Orlando Deposit Now Hosts 18,224 Tonnes of Bismuth and 2.03 Moz of Silver

Resource Update Overview

CuFe Ltd (ASX – CUF) has announced a significant update to the Mineral Resource Estimate (MRE) for its Orlando Deposit, part of the Tennant Creek Project in the Northern Territory. This update, conducted under the JORC 2012 guidelines, incorporates bismuth and silver for the first time, alongside the previously reported copper and gold. The inclusion of these metals has increased the resource's value and complexity, with the Orlando Deposit now containing 4,421 tonnes of bismuth and 266,000 ounces of silver.

The combined Tennant Creek resource, which includes the Gecko Deposit, now stands at 24.4 million tonnes grading 1.80% copper and 0.55 grams per tonne gold, with 18,224 tonnes of bismuth and 2.03 million ounces of silver. This positions CuFe as a holder of one of Australia's largest bismuth resources, a critical mineral with growing global supply concerns.

Geological and Economic Significance

The bismuth and silver mineralisation occur as high-grade pods within the copper and gold ore lenses, coincident with the primary mineralisation envelopes. This polymetallic nature is expected to add significant value to the project economics, as these metals are highly sought after in various industrial applications. The Orlando Deposit's history of both open pit and underground mining, combined with extensive drilling data dating back to the 1960s, provides a robust foundation for the updated resource estimate.

CuFe's Executive Director, Mark Hancock, highlighted the strategic importance of this update, noting that the Tennant Creek bismuth resource approximates one year of global production for this critical mineral. This positions CuFe advantageously in the emerging critical minerals sector, allowing the company to explore optimal revenue streams and assess the impact on capital and operational costs.

Technical and Methodological Rigor

The updated MRE was prepared by MEC, incorporating a comprehensive review of historical and recent drilling data, including 1,397 drill holes totaling nearly 98,000 meters. The estimation employed advanced geostatistical methods, including ordinary kriging and quantitative kriging neighbourhood analysis, to model nine elements within mineralised domains. The resource is reported above a 1.0 g/t gold equivalent cut-off, calculated using conservative metal price assumptions and recovery rates based on extensive metallurgical test work.

Quality assurance and quality control (QAQC) protocols were rigorously applied, with recent drilling campaigns demonstrating strong accuracy and precision. While some historical data exhibit limitations, the overall dataset supports a high level of confidence in the resource classification, which remains consistent with the previous update.

Next Steps and Strategic Outlook

CuFe plans to update the Orlando Scoping Study to incorporate the newly recognised bismuth and silver resources, aiming to optimize mine planning and economic evaluation. Further drilling is anticipated to upgrade resource classifications and test extensions, alongside additional metallurgical testing to refine recovery predictions. Environmental considerations, including waste characterisation and acid rock drainage potential, are also being addressed to ensure regulatory compliance and sustainable development.

This resource update marks a pivotal step in unlocking the full value of the Tennant Creek Project, reinforcing CuFe's position in Australia's critical minerals landscape and setting the stage for future growth and development.