The Province of British Columbia has granted a Project Approval Certificate for the Tulsequah gold-silver-copper-zinc project in the northwestern area of the province. The 100% owner, REDERN RESOURCES, is planning to reopen the underground Tulsequah Chief mine, which was last active during the 1950s.
Redfern has spent almost $30 million on exploration work at the old mine since the early 1980s. It has a feasibility study that proposed a 2,500-tonne/day underground mine and mill with both gravity and flotation circuits. It estimates a full annual production rate of 58,000 oz Au, 2.3 million oz Ag, 98 million lb Zn, 22 million lb Cu, and 10 million lb Pb, all contained in concentrates. Reserves are estimated at 7.6 million tonnes grading 6.63% Zn, 1.31% Cu, 1.24% Pb, 105.20 g/t Ag, and 2.51 g/t Au. The Tulsequah deposit is open at depth and laterally.
The Tulsequah property includes another former producer, the Big Bull mine. No recent exploration work has been done there. Together the Tulsequah Chief and Big Bull mines produced 14,756 tons of Cu, 11,439 tons of Pb, 54,910 tons of Zn, 95,340 oz of Au, and 3.33 million oz of Ag from 1951 to 1957. They were owned by COMINCO.
Redfern estimates that it will invest $150 million to redevelop the Tulsequah Chief mine. Financing options are under consideration.
For more information about the Tulsequah project, contact Redfern president Terrence Chandler at chandler@redfern.bc.ca or visit the web site at www.redfern.bc.ca
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