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FEASIBILITY STUDY: Pine Point redevelopment to cost $114 million

NORTHWEST TERRITORIES TAMERLANE VENTURES of Blaine, Washington, has a positive bankable feasibility study and 43-...


NORTHWEST TERRITORIES TAMERLANE VENTURES of Blaine, Washington, has a positive bankable feasibility study and 43-101 numbers for its Pine Point project. The project occupies the site of a former lead-zinc producer operated by Cominco until 1987.

The study focuses on underground mining of the R190 deposit. Construction will include a freeze perimeter, conveyor system, support equipment and buildings, spares, a mill and other infrastructure, underground utilities and a 10% contingency. After three years of construction, annual production would begin at 108,000 tonnes of zinc in concentrate and 43,000 tonnes of lead in concentrate. Operating costs are estimated between $0.666 and $0.680 per pound of zinc produced.

Supporting the operation, Tamerlane says there are proven and probable reserves of 7.8 million tonnes grading 6.16% Zn and 3.01% Pb. In addition there are measured and indicated resources of 8.0 million tonnes grading 2.26% Zn and 1.13% Pb, plus inferred resources of 4.1 million tonnes grading 2.36% Zn and 0.82% Pb. These estimates include not only the R190 deposit but also five other nearby deposits that figure in the mining plan.

In February 2008, the Mackenzie River Environmental Impact Review Board recommended that the Pine Point project proceed to the regulatory stage. Additional information is posted at www.TamerlaneVentures.com.


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