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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%)

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Message: Re: you wouldn't believe it
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Sep 30, 2013 05:40PM

Yes, they will move the pit and widen it, but in terms of the grade of the deposit I believe it can be classified as a high-grade deposit. SC for many years was considered "low-grade" ranging from .10-.30% for over 20+ years. When I say it will now be a high-grade ore body I mean .60-1.20% grades from the assays.

Read the below article (all of it):

http://copperinvestingnews.com/what-makes-a-world-class-copper-deposit

The average grade of Copper Ores in the 21st century is below .60%. Elmer has discovered in the last 3 years a zone that is well above the average Copper grade with the finding of Paramount West and East. So based on the article we are considered High-grade. What I found most exciting when reading the above article is grade is not the most important aspect when trying to find value of an economic mine. High-grade ore helps reduce costs and improve the chances of building a mine from drill cores but we do not need to show the mining community 2% and higher Copper grades because we are profitable due to size and scale of the deposit. Copper Fox may have not found the highest grade deposit but SC is not a low-grade deposit like previously thought. You can argue that SC is "average grade" but I think we are higher-grade deposit since the average deposit is below .60% in the 21st century.

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