NEWFOUNDLAND – AUR RESOURCES of Toronto will fast-track development of its Duck Pond copper/zinc deposit so that it begins production in late 2006. The property is located in central Newfoundland about 100 km southwest of Grand Falls.
The plan is to develop an underground mine for the Duck Pond deposit and an open pit mine for the Boundary deposit at a cost of $92 million. Between 2007-14 the mine will have an annual production rate of 41 million lb of copper, 76 million lb of zinc, 536,000 oz of silver and 4,100 oz of gold. Proven and probable resources are 4.1 million tonnes averaging 3.3% Cu, 5.7% Zn, 59 g/t Ag and 0.9 g/t Au. An additional resource of 1.1 million tonnes grading 3.0% Cu, 7.1% Zn, 71 g/t Ag and 0.8 g/t Au is inferred.
Further details will be available during the first quarter of 2005. Visit www.AurResources.com.