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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: Nice Week
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Jul 07, 2014 10:00PM

You said this,

To my knowledge they've only drilled a very small fraction of that.

This says that you expect more drilling in order to confirm the waste. I was following that up and asking how you think the waste is to be "converted?" The implication seems to be that you expect the entire area of waste to be drilled and I wanted to know where you got that idea.

I'm not sure you can state that the waste hasn't been "converted" if by that you mean moved from being inferred into a resource category. As Calvin pointed out in his quote from Elmer he said that the drilling in 2013 extended the mineralization into an area previously categorized as waste in the feasibility study. That means it was waste and it is now mineralized or "converted" if you like.

What remains to be seen is how much of this inferred resource can be incorporated into the new pit design. It was through the old pit design that much of this already drilled material was determined to be waste. The new pit design will update the resource.

That's why I asked about why you were pointing to the drilling specifically.

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Jul 07, 2014 11:29PM
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