NORTHWEST TERRITORIES – Tamerlane Ventures of Bellingham, WA, has filed an updated 43-101 report for its Pine Point zinc-lead project on the south side of the Great Slave Lake that includes 7.8 million tonnes of proven and probable reserves grading 6.1% Zn and 3.01% Pb.
The report includes material from six underground deposits – R-190, P-499, O-556, X-25, Z-155 and G-03. The technical report also includes measured and indicated resources totaling 8.0 million tonnes at 2.26% Zn and 1.13% Pb.
Tamerlane plans call for each deposit be mined via decline with ore trucked to the surface. Conventional longhole open stopes with paste fill is anticipated. With those parameters, the project carries a pre-production capital cost of $121.8 million, and the cash cost of zinc production will be $0.49/lb.
Earlier this year, Tamerlane released the mineral inventory for the N-204 deposit at Pine Point (see CMJ Headline News for Feb. 8, 2012.)
Both technical reports area available at TamerlaneVentures.com.