The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
NovaCopper Inc. April 19 provided an updated resource estimate for the Bornite project located in the highly prospective Ambler Mining District of Northwest Alaska.
Using a 0.50 percent copper cutoff grade, the Bornite Project is estimated to contain 40.5 metric tons of in-pit indicated resources averaging 1.02 percent (913 million pounds) copper; and 84.1 million metric tons of inferred resources averaging 0.95 percent (1.8 billion lbs.) copper.
Contained copper in the indicated category jumped 173 percent, up from 344 million lbs. included in an estimate calculated in 2014.
Additionally, at a 1.50 percent copper cutoff grade, Bornite is estimated to contain 57.8 million metric tons of below-pit inferred resources averaging 2.89 percent (3.7 billion lbs.) copper.
Total contained metal in the inferred resources - in-pit and underground - decreased by four percent.
The reduction is due principally to upgrading in-pit inferred resources to the indicated category.
This upgraded resource incorporates recent work to advance the 3D lithology, alteration and structure model for Bornite, as well as the results of the 2014 assaying of previously un-sampled or partially sample core from historical drilling by Kennecott.
"This increase came at a very low cost as we were able to effectively utilize an extensive database that has been developed on this property.
By applying a well-executed, geologically-focused re-log and re-assay program, we have added more high-quality copper resources at an average grade of approximately 1 percent copper in a potential open-pit mine scenario.
The resource model also shows that there is ample room to expand the resources adjacent to the current in-pit endowment, as well as down dip to the north and east of the below-pit resources," said NovaCopper President and CEO Rick Van Nieuwenhuyse.
"The latest results on Bornite further demonstrate that Ambler is evolving into one of the world's major mining districts.
Bornite is located about 26 kilometers (16 miles) southwest of our advanced Arctic project.
When combined with our high-grade (5.9 percent copper-equivalent) potentially open-pit resource at Arctic, currently being advanced towards a pre-feasibility level of study, and safe jurisdictional location in mining-friendly Alaska, we believe the Ambler mining district represents a unique opportunity in the global copper space - not to mention our significant resources of zinc, gold and silver!"
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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