Operator: Aurora Metals Limited
Location: Queensland, Australia
Royalty: 1.5% NSR (all metals)
Term of Royalty: Life of Mine
The Balcooma royalty covers the Balcooma open-pit and underground mines and the Dry River South underground mine operated by Aurora Metals Limited. These mines are located in the Central Region of North Queensland, approximately 180 kilometers west of Townsville.
The Balcooma deposit is hosted by a meta-pelite lens within the Clayhole Creek Beds, which has been divided into a lower and upper greywacke. The Dry River South deposit is a zinc, lead-rich polymetallic orebody that dips at a shallow angle to the east-southeast and plunges gently to the south-southwest. Mined ore is hauled approximately 150 kilometers to Mount Garnet by road-train for processing at the Mount Garnet Processing Plant.
Royal Gold holds a 1.5% net smelter return (NSR) royalty on all metals produced from the tenements covering the Dry River South underground, Balcooma underground and Balcooma open-pit mines.
Royal Gold acquired its royalty interest effective October 1, 2008, as part of the acquisition of a royalty portfolio from Barrick Gold Corporation.