BRITISH COLUMBIA – BLUE PEARL MINING of Toronto has updated the measured and indicated molybdenum resource estimate for its Endako mine near Fraser Lake, B.C. WARDROP ENGINEERING reported that at a cutoff grade of 0.02% Mo, the property contains 492.1 million t grading 0.043% Mo, and inferred resources of 76.2 million t at 0.033% Mo. (Additional estimates using higher cutoff grades are posted in the April 16 news release at www.BluePearl.ca.)
The current open pit plan extends to 2013 with an annual mining rate of 10.0 million t of ore. The new estimate, said Blue Pearls executive chairman Ian McDonald, indicates there is the potential to extend the mine life. The calculation of mine life along with a reserve estimate will be part of the next stage of work by Wardrop.
The Endako mine is owned 75% by Blue Pearl and 25% by Japan-based SOJITZ CORP. The mine has been producing for more than 40 years.