The joint venture - Copper Fox 25% and Teck Resources 75% owned - continues to move forward with work at the Schaft Creek advanced exploration project. Located 375 km northwest of Smithers, the property is a potential producer of copper, gold and molybdenum.
An in-depth conceptual study has begun to follow up on last year's sizing and infrastructure alternatives. The project is also being de-risked in terms of capital and operating costs assuming a 130,000 t/d milling rate. Key infrastructure elements - tailings management, conveyor systems, ore and waste transportation, and mill location - are also being evaluated.
The 2013 feasibility study examined an open pit mine with a conventional flotation mill. The Schaft Creek property at that time had a proven and probable reserve of 940.8 million tonnes grading 0.27% copper, 0.19 g/t gold, 0.018% molybdenum, and 1.72 g/t silver. In terms of contained metals, the reserves have 5.6 billion lb. of copper, 5.8 million oz. of gold, 363.5 million lb. of molybdenum, and 51.7 million oz. of silver. The feasibility study suggested an annual production rate of 105,000 tonnes of copper, 201,000 oz. of gold, 10.2 million lb. of molybdenum, and 1.2 million oz. of silver.
Including reserves, the deposit hosts a measured and indicated resource of 1.2 billion tonnes grading 0.26% copper, 0.017% molybdenum, 0.19 g/t gold, and 1.69 g/t silver plus a 597.2 million tonne inferred resource grading 0.22% copper, 0.016% molybdenum, 0.17 g/t gold, and 1.65 g/t silver.
(This article first appeared in the Canadian Mining Journal)