DAILY NEWS Feb 13, 2013 4:21 PM - 0 comments

ZINC-GOLD-COPPER: Chieftain given final permits for Tulsequah Chief

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2013-02-13

BRITISH COLUMBIA – Chieftain Metals of Toronto has received the final permits required to start construction at the Tulsequah Chief zinc-gold-copper mine 100 km south of Atlin. The parks use permit, occupant licenses to cut, transportation and infrastructure works permits and an amendment to the special use permit have been granted.

Keith Boyle, Chieftain's COO, stated, "We are pleased to have reached this important step in the project after almost 18 months of working with the Taku River Tlingit First Nation (TRTFN) and BC governments to find an alternate route to the original [special use permit] that met the objectives of the land use plan they signed in 2011. Tulsequah Chief is fully permitted for construction, including the improved access road route."

The realigned road requires 35 km less new construction than the original proposal. The change also reducing the number of stream crossing by 24, avoids sensitive caribou habitat and eliminates any crossing of the TRTFN Nakina Heritage Trail.

Pre-production capital costs are estimated at $439.5 million to construct a new ramp access underground mine adjacent to and beneath the old workings, a 2,000 t/d mineral processing plant as well as infrastructure.

The results of the Tulsequah Chief feasibility study are available in the news release dated December 12, 2012, posted at ChieftainMetals.com



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