NORTHWEST TERRITORIES - Blaine, Washington-based TAMERLANE VENTURES, chaired by Margaret M. Kent of CENTURY MINING, is in possession of a positive feasibility study for its wholly owned Pine Point zinc-lead project. This is the same mine operated by Cominco (now TECK COMINCO) from 1964 to 1987. When production ceased at Pine Point 20 years ago, the mill, town site and railway were all dismantled.
Tamerlane based its study on reserves in the R-190 deposit only. They are estimated at 1.00 million tonnes averaging 11.16% Zn and 5.49% Pb. There are five other deposits classified as indicated resources on the property, and they contain 10.90 million tonnes averaging 4.69% Zn and 2.43% Pb. Historical resources at Pine Point are assumed to be 50.94 million tonnes averaging 3.84% Zn and 1.24% Pb.
The feasibility study lays out a plan of underground mechanized longhole stoping with shaft access to the orebody and for hoisting. Control of groundwater will be accomplished by establishing a perimeter freeze curtain. A dense media separation (DMS) plant will create a concentrate suitable for direct shipping. Operating cash costs might be $0.20/lb of contained lead and zinc.
The capital cost of constructing such a mine for the R-190 deposit, plant and necessary infrastructure is estimated to be $93.37 million. Each of the remaining deposits might be developed for roughly $25 million to $33 million after the first deposit is placed in production.
Complete details of the proposed Pine Point development are available in the news release dated Aug. 24, 2007, posted at www.TamerlaneVentures.com.