Re: 171m tonnes, drills pulled Liddy
in response to
by
posted on
Jan 02, 2013 12:10PM
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%)
IMO additional drilling of the waste rock would not change the FS for two reasons. To late to be included and would not have made the cut off grade. Companies that will consider buying schaft ck can see there is ore in the waste rock and there will be a value put on the tonnage of waste. To procure bridge financing for an operating mine it would be very important to move the waste rock into a usable proven category. As an exploration company our best value in drilling would be to prove the unexplored targets contain something of value. I do think that Teck was pulling strings when the drilling was halted early. Whatever the reasons Schaft ck will not sell w/o Ernestos blessing.