BRITISH COLUMBIA – Toronto-based Seabridge Gold has revised and improved the design of its proposed KSM gold-copper mine 65 km northwest of Stewart, and completion of a new preliminary feasibility study is scheduled for April 2012.
Plans now call for a combined open pit and underground mine for the Mitchell deposit. The reduced surface disturbance of underground panel cave mining will make the environmental footprint of the project smaller. That change will probably lead to changes in the route planned to access the property. The additional capital and operating costs of an underground mine are expected to be offset by eliminating more than 2.0 billion tonnes of waste rock mining and associated haulage roads and waste rock storage as well as reducing the height of pit walls.
Seabridge has suggested the cost of developing the KSM property would be $3.7 billion. With measured and indicated resources of 2.5 billion tonnes grading 0.55 g/t Au and 0.21% Cu, the project is probably the largest undeveloped gold-copper project in the world.
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