Re: New Prosperity Mine vs. Schaft Creek Mine
in response to
by
posted on
Feb 27, 2014 02:18PM
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%)
Here are some examples of good posts from the past from people who went to meetings and dug up a little information:
In March 2013, HayzToo met with Elmer at an open house in Smither's BC. This was during the period when we were all waiting for the Teck decision.
Here's from Chops in July 2012 from the AGM meeting. It actually is interesting what he says about the AZ lands: ARIZONA: some of them are leaving this Sunday to go down to Arizona and do some due diligence on the new lands. In short, Elmer thinks the surface has only been minded, and has hunch that polymetallic porphyry systems lay further below both Van Dyke and Sombrero Butte. Not interested in the breccia pipes themselves, but the porphyry source of them. In Chile, Elmer found good porphyry under the breccia pipes. Great 'potential' in these projects, especially is there are larger, unrealied porphyries lurking beneath what has been drilled/tested. These sorts of conversations held more casually in person can give us a lot of information. Reading this today I still find it interesting given how our hopes have risen for AZ.
More from Sharp662 about AZ in a conversation with Elmer (again better with no writing.) Suddenly looking back at this stuff is proving interesting. Anyway from Sharp: AZ properties: Huge potential there, water is not an issue (and I agree) look at all the multiple mega mines in AZ and NV where each year another goes into production, there are ways to work this out and utilized new leaching techniques. The recent Van Dyke/ SB properties have tremendous potential, especially when looking at neighboring properties... I have done my research on them and I agreed that there could be a chance to find the “source” from where the breccias pipes branch out. ES is more concerned about finding the BIG source rather than pipes (as demonstrated by SC where numerous zones and sources have been found). The grades also look good when looking at neighboring properties. The other great aspect of AZ is there is no contract like at SC, so you develop as you choose rather than try to complete a FS. He said the FS at SC was originally supposed to be $15M. Now look, it has cost many times that amount due to the vast scale. ES seems more excited about AZ because SC had to complete a cumbersome FS, and has to meet the Teck contract agreements (much more freedom).