MANITOBA – Joint venture partners VMS Ventures (30%) of Vancouver and HudBay Minerals (70%) of Toronto have released a 43-101 report for their Reed Lake polymetallic deposit near Snow Lake. In the indicated category, they estimate there are 2.6 million tonnes that grade 4.52% Cu, 0.64 g/t Au, 7.86 g/t Ag and 0.91% Zn. The inferred tonnage is 170,000 tonnes at 4.26% Cu, 0.38 g/t Au, 4.55 g/t Ag and 0.52% Zn.
The numbers are sufficient to have the partners planning a prefeasibility study of the project. The property contains a high grade, near surface deposit within trucking distance to HudBay’s Flin Flon concentrator. A ramp access underground operation is planned. A construction decision may be made by the end of this year.
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