Manuka Resources Limited purchased the Manuka silver project in August 2016. It is focused on becoming Australia’s newest silver producer and capitalising on a global silver deficit.
The Manuka project is in a world-class mineral province and has an estimated resource of 52 million ounces of silver and 236,000 tonnes of lead. A mine, camp and reconfigured processing plant plus associated infrastructure were included in the acquisition. Beneath the existing oxide resource are multiple sulphide targets which have never been thoroughly investigated, indicating potential for a major base metals project typical of the Cobar Basin style projects. There is also a highly prospective exploration portfolio.