The Esperanza deposit is located 120 kin N of Mount Isa, Queensland at approximately lat 1920'S, long 13922'E on the Camooweal (SE 54-13) 1:250 000 scale map sheet. It is one of several structurally controlled copper_x000D_
cobalt deposits developed along the Mount Gordon Fault zone and related faults, within the Western Fold Belt of the Mount Isa Inlier (Figure 1). Together with the nearby Mammoth orebodies it forms the basis of the Gunpowder operation of Aberfoyle Limited. Until recently ore was mined from the Mammoth orebodies by open stoping with decline haulage to surface leach pads._x000D_
Leaching of in situ broken ore (in place) and surface heaps, followed by solvent extraction and electro-winning (SX-EW), produced copper metal on-site. In March 1997, mining was suspended at Mammoth and the focus of the Gunpowder operation switched to development of the Esperanza orebody, which is expected to begin open cut production in mid 1998._x000D_
SX-EW methods will produce 44 000 tpa of copper from an expanded plant. The pre-mining mineral resource at Esperanza (measured, indicated and inferred) is estimated at 4.6 Mt averaging 7.7 per cent copper.