TECH CORP. A Billion-ton Copper Deposit

The Schaft Creek deposit, 100 miles north of Stewart, B.C., ranks as the largest porphyry copper occurrence in Canada (outside of the Highland Valley). Open pit reserves are 1.07 billion tons grading 0.30% copper and 0.033% molybdenite, with gold and silver credits.

The original showings were discovered in 1957 by a prospector working for Silver Standard Mines, a company in which Teck acquired a significant interest in 1969.

The property was optioned to and drilled by asarco and then Helca Mines, which subsequently sold its interest to Teck. Teck can earn a 70% interest in the project upon bringing it into production.

Schaft Creek is a significant resource, but its development must await improved metal prices as well as developent of the area’s bountiful hydro-electric potential.