en.Wedoany.com Reported - Australian mining company CuFe has significantly enhanced the geological confidence of the Gecko copper-gold deposit at its Tennant Creek project in the Northern Territory, increasing the proportion of indicated resources from 4% to 66% of total resources. Gecko currently holds indicated resources of 11.73 million tonnes, with a copper equivalent grade of 2.43%, comprising 1.91% copper, 0.33 g/t gold, 3.13 g/t silver, and 0.06% bismuth. Contained metals include 224,000 tonnes of copper, 126,000 ounces of gold, 1.8 million ounces of silver, and 7,068 tonnes of bismuth.
This upgrade has significantly boosted CuFe's (ASX:CUF) confidence in the Gecko resources, advancing development plan studies and deepening the understanding of its economic value. Combined with the Orlando deposit, indicated resources now account for 71% of the defined resources at Tennant Creek, a substantial increase from the 16% level four months ago. This progress also highlights the rationale behind Pan African Resources' investment of $15.35 million in the company in mid-May 2026 to accelerate Tennant Creek development.
Executive Director Mark Hancock stated that this resource update has substantially improved confidence in both the Gecko resources and the overall project resources, enabling them to further advance mine planning for Gecko and assess the project's economics for the first time. The company plans to release an updated scoping study to the market in the coming months. Hancock noted that the recent Orlando copper-gold scoping study demonstrated the value of incorporating Orlando's underground ore, but Gecko's resources, previously primarily classified as inferred, prevented the release of its net present value estimate. This update removes that limitation. He believes that Gecko, being the larger of the two deposits, should significantly enhance project economics once the scoping study is completed. This resource update will also guide upcoming drilling programs to target the remaining inferred resources.
The updated Gecko resource is based on the August 2025 estimate, which was the first to conduct a global interpretation and estimation of the entire Gecko drill hole database. CuFe's update integrates a geological model and additional historical quality assurance data, significantly enhancing resource confidence. The remaining inferred resources amount to 6.05 million tonnes, with grades of 1.95% copper, 0.53 g/t gold, 5.1 g/t silver, and 0.09% bismuth.
Peko Mines first discovered Gecko in 1967 through geophysical surveys and drilling. Underground mining began in 1971, spanning four phases of mining activity until operations ceased in 1999 due to low copper prices. Total historical production was approximately 3 million tonnes, with grades of 4% copper and 1.2 g/t gold, equating to 122,700 tonnes of copper and 110,920 ounces of gold. After the mine closure, the project was explored by several companies, including Evolution Mining and Emmerson Resources, with the most recent drilling completed in 2017. CuFe plans to conduct further drilling in the September quarter to facilitate the upgrade of more resources from the inferred to the indicated category.
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