BRITISH COLUMBIA – Vancouver's Discovery Ventures is looking hopefully at the preliminary economic assessment that it completed for its WillMAX gold-copper project and saying the economics are "robust". The study examined the potential to mine the Willa gold-copper deposit in the Slocan Mining Division and process the ore at the MAX mill that once served the molybdenum mine of the same name in the Revelstoke Mining Division. The two sites are about 135 km apart via highway.
The pre-production capital requirement is only $12.8 million to establish a 500-t/d project with a four-year life. The proposed base case would mine the resource in the West zone with a net smelter value cut-off of greater than $125/t. A hybrid case was also studied whereby mining would focus on higher grades in the Lower mine for the first year.
The Willa property has been on care-and-maintenance since 2005. The 2012 measured and indicated resources are 758,199 tonnes grading 6.67 g/t Au, 0.85% Cu, and 12.54 g/t Ag when using a cut-off grade of 3.5 g/t Au. Using a cut-off grade of 2.5 g/t Au, the deposit contains 1.33 million measured and indicated tonnes grading 5.05 g/t Au, 0.74% Cu and 10.72 g/t Ag.
The MAX mill was closed in 2011 because of low moly prices.
The May 28, 2014, news release containing this information is posted at DiscoveryVenturesInc.com.