QUEBEC – CAMPBELL RESOURCES of Montreal has made a successful $7.0-million equity financing for further work at its Corner Bay copper project (the same deposit that Novawest finds interesting; see above) near Chibougamau.
By the end of April 2007, the company says work will begin on a 725-m ramp. The mineralized zone should be reached in the fourth quarter. Following the extraction of the 42,000-t bulk sample, Campbell plans to mine 500,000 t of ore grading 4.5% Cu over the next four years. Exploration at depth will also be carried out to confirm and add
to the resources already identified.
The Corner Bay deposit contains measured and indicated resources of 446,000 t averaging 5.58% Cu. Inferred resources are 1.4 million t at 6.76% Cu. The ore will be treated at Campbells Copper Rand mill, 45 km away.
Visit www.CampbellResources.com for additional information.