Re: SA Article
in response to
by
posted on
Mar 26, 2015 08:13PM
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%)
"Anyway it just seemed off to me at first, but as we were talking I was remembering we did have a tad more than just the refund. Either way as I said I didn't know the cost of VD PEA (maybe it is over 2mil and that is a big difference)(although I guess that was in the article, but who is to trust this article/once again I couldn't actually read it). Now I question if the office said 750k, seems more like we are pulling that from the article which doesn't have the strongest credability. If the office actually said this, good, otherwise who knows where the number actually came from"
Calvin is correct. Read the MD&A report, (below is the relevant part for this debate):
Van Dyke project
Due to advances in the technology and operating techniques associated with in-situ leach operations in both the uranium and copper industry over the last three decades, the Van Dyke oxide copper deposit is considered to be amenable to in-situ leaching recovery techniques.
Total exploration expenditures on the Van Dyke oxide copper project in 2014 was $4,146,116. The objectives of the 2014 program were to complete the exploration work necessary to verify the historical data and move the project to the Preliminary Economic Assessment (‘PEA’) stage. To achieve these objectives, a six hole (3,211.7m) verification diamond drilling (PQ core diameter) program, In-Situ Pressure Leach testing (8 samples) of the oxide copper mineralization, environmental baseline studies, hydrology measurements and studies, fluid mechanics, geochemical characterization of the lithologies surrounding the deposit, scoping level engineering studies, a mineral resource estimate as well as drill core, sample pulps and data recovery were completed in 2014.
The work performed in 2014 on this project has verified the majority of the historical information and has significantly advanced the understanding of geological and metallurgical aspects of the Van Dyke oxide copper deposit. During the first quarter of 2015, the Company expects to determine if the data collected in 2014 is sufficient to complete a PEA. The completion of a PEA on the Van Dyke oxide copper deposit would provide a conceptual study that includes an independent preliminary engineering analysis of the project, an estimate of potential value, operating costs, capital and sustaining costs and a conceptual plan on development and operations of the Van Dyke oxide copper deposit. If the decision is made to proceed with the preparation of the PEA, it is expected that this would be completed on or before the fourth quarter of 2015 and is estimated to cost in the order of $750,000.