CHILE – Continued drilling of the primary sulphide mineralization (hypogene) deposit at Quebrada Blanca in the northern part of the country has allowed TECK COMINCO of Vancouver to infer a new resource of 1.03 billion tonnes. Grades are estimated at 0.5% Cu and 0.20% Mo, or 11 billion lb of contained copper and 450 million lb of contained molybdenum. The drilling program included 36 holes drilled on 200-metre centres. All the holes ended in mineralization.
Teck Cominco holds a 76.5% interest in the property, and Chilean entities hold the remainder.
The company’s president and CEO Don Lindsay commented, “Of the over one billion tonnes of new resource, we have identified a higher grade zone in the bottom of the existing enriched sulphide (supergene) pit that contains approximately 300 million tonnes grading 0.55% copper and 0.020% molybdenum. That portion of the deposit could provide a substantial starter pit for a five- to 10-year period that would benefit from having been largely pre-stripped by ongoing mining of the supergene orebody. We fully expect that our ongoing drilling program should result in not only this resource being eventually converted to reserves, but also in a significant expansion of this new resource in the relatively near future.”
Additional information about Teck Cominco and its worldwide operations is available at www.TeckCominco.com.