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Worcester Mine Project
A pre-feasibility study was completed on the Worcester Project to determine the economic viability of mining the Mineral Resources delineated to date below the old mine workings.
Although results of the pre-feasibility study indicate that the project has an IRR of 24%, the proposed mining operation is not regarded as being sufficiently robust to justify a more detailed engineering study at this stage. Instead, the exploration program in and around the Worcester Project area continues to concentrate on delineating additional Mineral Resources in an attempt to provide economies of scale to the project.