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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: Optimization studies
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Dec 03, 2014 01:40AM

Once again, this is not true. They stated in the last News Release that they are going to have to collect more metallurgical samples for the optimization studies. That means they need to do further drilling.

I wanted to respond to this earlier but didn't have the chance.

I guess I didn't clue into the fact that more drilling was required from the last news release. I had interpreted the metallurgical studies mentioned to be the improvments on the metal recoveries. If more drilling is to be required why wouldn't they say "more drilling" in the NR? Is this because the budget for 2015 hasn't been decided yet by Teck?

Prospekt, I think you called the office and they indicated any drilling would be done in a month, perhaps in May 2015. Can you please confirm this? Otherwise I will call the office myself and report back here.

More drilling is a disappointment for me because I thought they had done all they needed and the optimization work was the home stretch before submitting the EA, road permits, etc.

Could it be that Teck's old cores from the pit waste-not-waste are too old and oxidized to be classified uner 43-101 and that the new drilling is to finally and formally move the waste-not-waste into the reserves category as recommended by the FS?

K

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