PHILIPPINES Calgary’s TVI PACIFIC has completed the feasibility study for its Canatuan copper-gold sulphide project on the island of Mindanao. The company began mining raw gossan ore in 2004, and now hopes to recover metals from the sulphide portion of the deposit.
The study recommends a 1,300 tonnes/day production rate for 6.5 years. A total of 84.4 million lb of copper, 51,600 oz of gold, 3.0 million oz of silver and 21,400 tonnes of zinc would be recovered. Capital costs are estimated at US$23.3 million. Proven and probable sulphide reserves recoverable by open pit methods are 3.11 million tonnes averaging 1.55% Cu, 1.16% Zn, 0.84 g/t Au and 43.82 g/t Ag. The mill would be built with three circuits to treat high-copper, copper and high-zinc ores.
If TVI makes a positive decision for the sulphide project, major construction will begin by the end of 2006, with the mill reaching its 1,300 tonnes/day target in the second quarter of 2007.
Further details are available at www.TVIPacific.com in the news release dated May 26.