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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: 2021 Resource Estimate recommendations

I think this section of the report gives a good summary of what the 2021 drilling is about.

 

"26.0 RECOMMENDATIONS The updated geological model completed by the Schaft Creek JV and Resource Estimate presented in this Report, have provided several opportunities to advance the Schaft Creek Project. It is recommended that a combined geotechnical and geometallurgical drilling program be completed. The results of this program, which if successful, could have a significant impact on a future mine plan and milling/infrastructure design for the project. The recommended program is designed to allow many of the proposed drill holes to be utilized for the proposed geotechnical and geometallurgical program and contribute additional geological/ mineralogical data. The location of the proposed drill holes and specific parameters for each program would be established by the Schaft Creek JV. Geology The recommended drilling program would provide additional information that could inform a higher level of confidence in the geological model for the Schaft Creek deposit. The drill program would provide additional data on distribution of copper species, controls on mineralization, alteration patterns, and overall average metal grades in these areas of the Schaft Creek deposit. Geological and Geotechnical Drilling The recommended geological drilling is estimated to be 7,300 m. With a unit cost of $620 per m all-included, the total cost is estimated at $4.5 million. These proposed drill holes would increase the quality of the geological model and resource confidence, investigate potential extension to the mineralization, and provide additional information on the mineralogy and metal grades in these areas of the Schaft Creek deposit. As well, these drill holes would be used to collect geotechnical information to investigate opportunities to increase pit slope angles with the objective of reducing the Life of Mine strip ratio. Metallurgical Test Work Tetra Tech recommends further metallurgical test work focused on the four geometallurgical domains within the Schaft Creek deposit to further investigate the geometallurgical variability and throughput assumptions for each geometallurgical domain. The parameters of the test work should be designed to optimize process conditions and update metallurgical performances. The test work should include the following: ▪ The sample selection for the proposed test work should include consideration for expected average Life of Mine head grades as well as expected average head grades for the first 5-year and 10-year mine plans. The test work should include a range of expected head grades within each geometallurgical domain on either side of the Life of Mine average grade as set out in the Resource Estimate included in this Report. MINERAL RESOURCE ESTIMATE UPDATE FOR THE SCHAFT CREEK PROPERTY, BRITISH COLUMBIA, CANADA EFFECTIVE DATE: JANUARY 15, 2021 26-2 ▪ Additional metallurgical response evaluations should be conducted to further investigate mineral liberation, copper mineral species, and metallurgical response for each geometallurgical domain to update the process flowsheet. The cost of the test work is estimated to be $200,000. ▪ Bench scale test work to further investigate the metallurgical performance of samples representing geometallurgical domains and expected mill feeds from each domain in the initial five- and 10-year mill feeds, based on the updated mine plan. The cost of the test work is estimated to be $100,000. ▪ The test work should focus on obtaining addition information on comminution parameters for each geometallurgical domain to determine if a more energy efficient, higher throughput circuit design is possible. The cost of the test work is estimated to be $100,000. ▪ Mineralogical investigation from previous test work indicates that rhenium occurs as discrete particles associated with molybdenite. The test work should include further copper-molybdenum separation tests to assess the potential additional value of rhenium in the molybdenum concentrate. The cost of this evaluation is estimated to be $60,000."

 

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