Re: For those interested
posted on
Jul 24, 2012 03:05PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
At one point, there seems to have at least been some pit re-design, due to the growing size of the Paramount Zone (and still open to the east!). I'm sure Mr. Gray et al. have found a solution by now for the open pit mine plan.
Mr. Stewart, President of Copper Fox stated, "DDH CF415 was drilled at the north end of the proposed open pit for essentially condemnation purposes. The results for this hole are a significant development in understanding the potential and size of the Paramount zone. The thickness of the mineralization and assays from this hole demonstrate that mineralization could extend a considerable distance to the north past this hole location. Most importantly, the results of DDH CF415 and DDH CF413 have extended the mineralization a considerable distance beyond that outlined in the current resource estimate which is being used to design the proposed open pit mine plan contemplated in the feasibility study. The Company has commissioned Tetra Tech WEI Inc. (formerly Wardrop) to prepare an updated resource estimate incorporating the significant new data provided by the results of the 2011 drilling campaign which extended the zones of mineralization and reported higher average grades than those currently reported for the Paramount Zone."