Undergroud Mining to Begin Around the Seventh Year of the YGP
in response to
by
posted on
Mar 08, 2012 10:59AM
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Hi Hans,
Where did you see that Briggs' "announced in his report that Tyhee will only perform open-pit mining, then no longer do we include underground mining as part of the project, creating a significant savings in the costs of operations per ounce of gold."?
It would seem that underground mining at the project will happen, just that, as of now, he's saying it will most likely begin seven years into the project.
Brigg says, "We are currently running numerous scenarios to determine what our most profitable pit size and tonnage rate is, along with underground stope designs and the timing of when to add the underground development and production. . A key result of such pit and overall production optimization would be that, not only will we be able to mine more ore from the Ormsby pit, but the “lion’s share” of production in the first seven years of the project would come from this near surface deposit without going underground or adding any ore from the Nicholas Lake or Clan Lake deposits. Of course, this would also reduce capital costs and should have a particularly positive impact on the early economics of the mine."
http://www.tyhee.com/investors/documents/TyheeLetterfromthePresidentFINAL.pdf