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COPPER FEASIBILITY – Outlook positive for Tulsequah Chief

BRITISH COLUMBIA - Vancouver-based REDCORP VENTURES has released a positive detailed feasibility study for its Tuls...



BRITISH COLUMBIA – Vancouver-based REDCORP VENTURES has released a positive detailed feasibility study for its Tulsequah Chief polymetallic copper project near Atlin.

Startup of mining and a 2,000-t/d mill could come as early as 2009. Capital costs of the project are estimated at $201.5 million, and it carries a payback period of 29 months. A new underground mine would be developed below the old workings, mined by Cominco from 1951 to 1957. Initially, the new development will accommodate truck haulage via a ramp, with the construction of an inclined ore hoist expected to begin in 2011. The primary mining method will be mechanized sublevel stoping followed by paste fill and unconsolidated waste fill.

The Tulsequah Chief orebody contains 5.4 million tonnes of probable reserves grading 1.40% Cu, 1.20% Pb, 6.33% Zn, 2.59 g/t Au and 93.69 g/t Ag. A new 2,000-t/d mill will produce gold concentrate from a gravity circuit and separate flotation concentrates of copper, lead and zinc.

An interesting aspect of the project is the plan to use the Taku River as a main transportation artery. An air cushion barge (ACB) will be towed by an amphibious tug, operating year-round. All equipment and supplies will be shipped to site via Juneau, Alaska. During operations, an ACB will also be used to haul the mineral concentrate from the mine to Juneau for trans-shipment via an existing commercial ocean barge service to Skagway, Alaska, where it will be ship-loaded for transport overseas. This change to the transportation system for the project resulted in a significant positive impact on the forecast project economics.

The project will be operated by Redcorp’s wholly owned subsidiary REDFERN RESOURCES. Project details are posted at www.Redfern.bc.ca.


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