Independence Group NL acquired Jabiru Metals, owners of the Jaguar mine 51 kilometres from Leonora in WA, in June 2011.
The Jaguar deposit was discovered 4km south of the Teutonic Bore mine in 2002 by the second diamond drill hole targeting an 1800 metre long conductor defined by a deep penetrating fixed loop transient electromagnetic survey. The first hole intersected sulphidic black shale at the conductor position and the second hole, 600m to the south, intersected massive sulphides greater than 7.7m from 485, grading 4.3 per cent copper, 16.1 per cent zinc, 0.8 per cent lead, 173 grams per tonne of silver and 0.24g/t of gold.
A total of 84 drill holes on nominal 50m centres for 41,659m outlined an initial resource estimate of 1.62Mt grading 3.4per cent copper, 12.8 per cent zinc, 132g/t of silver and 0.8 per cent lead, in 2005. Jaguar is currently being mined at a rate of 400,000tpa producing about 9000t of copper, 25,000t of zinc and 600,000 ounces of silver. Production at March 31, 2011, was reported as 2050t of copper and 3620t of zinc (silver production was not reported for the quarter).
The Teutonic Bore, Jaguar and Bentley deposits occur in the same broad stratigraphic position at or near the base of a tholeiitic and andesitic volcanic succession overlying a felsic volcanic succession. The three deposits consist of massive sulphide lenses with semi-massive and stringer style mineralisation both below and lateral to the massive sulphides. The sulphide mineralogy consists of pyrite, pyrrhotite, sphalerite, chalcopyrite galena and minor sulphosalts.
The main Jaguar massive sulphide lens forms a single, continuous, steeply west dipping tabular body of about 400m strike extent and 400m down dip extent with an average thickness of 3m. The deposit is hosted by a mixed sedimentary volcanic package towards the base of the mafic sequence.
In May 2011 the geotechnical program, which began at Jaguar in early April, was completed, later than expected. While the Jaguar concentrator had continued to operate, feed grades and metal production had been lower than normal stoping production.
Jabiru Metals advised that from April 24 to April 26, 2011, Jabiru shipped 5510t of copper concentrate through its storage facility at the Geraldton port.
Operating, recently acquired by Independence Group NL.