BRITISH COLUMBIA – DRC RESOURCES of Vancouver has begun mobilizing equipment and contractors for a 2,000-metre exploration decline at its Afton copper-gold project. Definition diamond drilling, bulk sampling and technical studies will be done as the decline is driven. Results will lead to a bankable feasibility study for an underground mine at the site of the former Afton open pit. Total costs for the work will be approximately US$14.5 million.
PROCON MINING AND TUNNELLING has been awarded the contract for the decline and ancillary underground development.
DRC holds 100% of the Afton project, 10 km west of Kamloops. The company has outlined a measured and indicated mineral resource of 68.7 million tonnes grading 1.68% Cu equivalent or 2.61 g/t Au equivalent. The resource contains approximately 1.6 billion lb of copper and 1.9 million oz of gold. A preliminary scoping study prepared by BEHRE DOLBEAR & CO. estimated capital expenditures would be US$120 million for the project. If viewed primarily as a copper mine, Afton could produce that metal at a cost of US$0.15/lb. If viewed primarily as a gold mine, it could produce the yellow metal at a negative cash operating cost per ounce.
More information is available from DRC’s new president, Chris Bradbrook, at 604-687-1629 or by visiting www.DRCresources.com.