The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Drilling, analysis, and First Nation consultation on the docket North of 60 Mining News – April 22, 2022
A drill collects metallurgical samples from a zone slated to be mined during the first five years of production at the Schaft Creek copper-gold-molybdenum-silver project in Northern BC.
A radio communications antennae being installed during the 2021 exploration program at the Schaft Creek project.
Copper Fox Metals Inc. April 19 reported plans to carry out 5,000 meters of drilling this summer at the Schaft Creek copper-gold-molybdenum-silver project in British Columbia's Golden Triangle.
Being advanced under a joint venture between Teck Resources Ltd. (75%) and Copper Fox (25%), Schaft Creek hosts 1.35 billion metric tons of measured and indicated resources averaging 0.26% (7.76 billion pounds) copper, 0.17 grams per metric ton (7 million ounces) gold, 1.25 g/t (54.3 million oz) silver, and 0.017% (510.6 million lb) molybdenum.
A preliminary economic assessment prepared for Copper Fox last year outlined plans for a 133,000-metric-ton-per-day mill and open pit mine at Schaft Creek that is forecast to produce roughly 5 billion pounds of copper, 3.7 million ounces of gold, 226 million lb of molybdenum, and 16.4 million oz of silver over 21 years of mining.
Last year, the Schaft Creek Joint Venture drilled four holes to collect samples for further metallurgical testing in the zone slated to be mined during the first five years of production.
The partners are planning for a 5,000-meter drill program this summer.
"In addition to planning for the 2022 field program, the SCJV is advancing several initiatives to deliver into the overall 2022 program objectives," said Copper Fox Metals President and CEO Elmer Stewart.
These initiatives include geotechnical analysis and updating the structural geology interpretation of the large porphyry copper deposit to identify opportunities to further decrease the strip ratio and strengthen overall pit slope design criteria. This work, along with rock geochemistry analysis, will help determine the scope of the 2022 and 2023 field programs.
The Schaft Creek JV is also refining the 2022 environmental baseline activities to ensure the data collection reflects the current regulatory requirements for the updated project configuration outlined in the 2021 PEA.
The partners are also strengthening their 2022 engagement with the Tahltan Nation, which is taking an increasingly active role in ensuring that exploring for, building, and operating mines in its traditional territory offers benefits to the Tahltan people and mitigates risks to the cultural and environmental resources found there.
"The results of these activities will guide the geotechnical program, align the environmental program to regulatory requirements, and expand consultation with the Tahltan Nation on advancing the Schaft Creek project," said Stewart. "These activities are focused on further defining and confirming value-add opportunities to inform a decision on initiation of a potential future Prefeasibility Study."
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.
Reader Comments(0)