BRITISH COLUMBIA — The latest 43-101 report for the Copper Mountain project near Princeton puts resource numbers 20% above earlier estimates, says owner and developer Copper Mountain Mining of Vancouver.
Measured and indicated resources are 394.5 million tonnes with an average grade of 0.31% Cu at a cutoff of 0.15% Cu. Contained copper is estimated to be 2.7 billion lb. Using the same cutoff, the interred resources are 220.2 million tonnes grading 0.22% Cu, or 1.9 billion lb of contained copper. The deposit remains open in most directions, particularly at depth where drilling has intersected higher grade material. Gold and silver grades were not available.
Copper Mountain made a decision at the end of October 2008 to reopen the mine. A new mill is to be built, but the existing tailings management facility will be used. A "super pit" has been designed including the three areas that were last mined in 1995 by open pit methods.
More details of the project are posted at www.CuMtn.com.
Comments