FRENCH GUIANA Montreal’s CAMBIOR INC. has released the results of a feasibility study on its Camp Caiman open pit gold project near the capital city of Cayenne. The project is relatively small, with a proposed mining rate of 2 million tonnes/year.
Cambior mentioned the following highlights of the report. Probable mineral reserves total 12.3 million tonnes grading 2.82 g/t Au or 1.1 million oz of contained gold. The average annual production rate is estimated at 124,000 oz of gold at a mine operating cost of US$268/oz. Initial capital costs are budgeted at US$114.7 million over a 21-month construction period. The money will be spent on infrastructure (US$12.37 million), mining equipment and pre-production (US$22.73 million), the processing plant (US$26.28 million), tailings and water management (US$7.98 million), support facilities (US$7.68 million), indirect costs (US$31.17 million), and contingencies (US$6.5 million).
Met-Chem Canada (processing plant), SGS Lakefield (metallurgical testing), Golder & Associates (tailings disposal and water management) and Saunier & Associs France (EIS) participated in the feasibility study.
Cambior is proceeding with applications for the required development and mining permits. Authorization to proceed is expected by the end of June 2006. Details of the Camp Caiman project are posted at www.Cambior.com.