Key Facts about Develop (ASX: $DVP) and Woodlawn Copper-Zinc Project

Develop (ASX: $DVP) has announced a substantial Resource increase and upgrade in confidence level at its Woodlawn mine. The Measured & Indicated Resource has increased by 11% to 8.1Mt, providing a strong platform for significant Reserve growth. The expanded Resource paves the way for an increase in mine life from 7 to 10 years based on existing throughput capacity of 850,000tpa. Develop is now set to secure project funding and a production restart at its Woodlawn mine.

Executive Commentary on Woodlawn Resource Upgrade

Develop Managing Director Bill Beament expressed his satisfaction with the expanded and upgraded Resource, highlighting its pivotal role in driving the imminent Reserve update. He emphasized that the new Resource positions Develop to secure the most attractive source of project funding and underpins Woodlawn's economics. Beament also pointed out the rapid emergence of Woodlawn as a major VMS geological system and its potential to offer investors exposure to the rising copper price.

Summary of Woodlawn Resource Upgrade

The Woodlawn Resource at Develop's mine has seen a significant increase, with the Measured & Indicated Resource up by 11% to 8.1Mt. This expansion provides a strong foundation for significant Reserve growth and an increase in mine life. Develop is now well-positioned to secure project funding and pursue a production restart. The company's Managing Director, Bill Beament, highlighted the pivotal role of the upgraded Resource in driving the imminent Reserve update and securing attractive project funding. The Woodlawn mine is rapidly emerging as a major VMS geological system, offering investors exposure to the rising copper price.