BRITISH COLUMBIA - THOMPSON CREEK METALS CO. of Toronto has updated the ore reserves and mine life for its Endako open pit mine near Fraser Lake. The estimates made by WARDROP ENGINEERING indicate that at the current rate of 11.2 million t of ore per year, the mine life is 27 years (exclusive of stockpiled material).
The latest estimates include proven reserves of 112.0 million t grading 0.053% Mo and probable reserves of 164.0 million t grading 0.049% Mo. Together these categories contain 310.0 million lb Mo, 75% of which represents Thompson Creeks interest in the mine. A Japanese company, SOJITZ MOLY RESOURCES of Vancouver, owns the remaining 25%.
Options suggested in the Wardrop study include combining the existing Endako, East Denak and West Denak pits into one super pit. If a higher molybdenum price of US$12.50/lb rather than US$10.00/lb is used, reserves would expand to include 404.0 million lb Mo. With higher prices, the life of the project would grow to 39 more years.
Details of Thompson Creeks Davidson deposit in British Columbia, molybdenum mine in Idaho and metallurgical facility in Pennsylvania may be found at www.ThompsonCreekMetals.com.
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