NEW BRUNSWICK - Vancouver-based GEODEX MINERALS has released the results of the preliminary economic assessment for the Sisson Brook tungsten-molybdenum-copper deposit north of Fredericton. The estimate includes only the southern half of the deposit where tungsten and moly predominate. A large number of assays from infill holes were pending when the report was issued. The Sisson Brook property is owned 70% by Geodex.
Geodex released numbers at five cutoff grades. At the lowest cutoff, 0.025% WO3Eq, there are inferred resources of 290.8 million tonnes averaging 0.059% WO3 and 0.020% Mo. At the highest, 0.225%WO3Eq, there are inferred resources of 15.8 million tonnes averaging 0.121% WO3 and 0.054% Mo.
The preliminary study examined an open pit mine and a 20,000-t/d concentrator. The project would produce 3.3 million lb of moly and 8.1 million tonnes of tungsten per year over a projected mine life of 31 years. Initial capital costs (excluding working capital and environmental costs) would be $353.0 million. The pre-tax payback period would be 2.7 years.
The Sisson Brook study is available in detail at www.GeodexMinerals.org.