Average annual production would be 85,500 oz gold with an estimated 873,200 oz recovered over the life of the mine.

Demerger will create a company dedicated to exploring its WA-based hard rock lithium assets, like the Greenbushes and Pilgangoora projects.

Osisko has released the updated resource estimate for its Windfall gold project that puts 3.2 million oz. in the indicated category plus 3.6 million oz. in the inferred category.

The 61 zone’s drill highlights included 0.50 metres grading 2571.53 grams silver per tonne and 0.01% cobalt.

The project has inferred resources of 8.47 million tonnes grading 0.82% nickel and 0.08% copper.

Indicated resources are 10.6 million tonnes grading 2.32 g/t gold and 11.43 g/t silver for 791,000 oz gold and 3.9 million oz silver.

Codelco said that various permits had been processed last year to begin the exploration.