A sizeable- tonnage lower-grade material also exists at Caribou. Operating results should be definitive by about mid-year when metallurgical recoveries enter the post tune-up phase in the new 2,000- tonne-per-day mill.
In December, 1987, East West Minerals of New South Wales struck a deal with the now- defunct minerals arm of U.S. oil giant Atlantic Richfield. For a mere $1 million (us) and a commitment to clean up several thousand tonnes of mine wastes left behind when Anaconda mined the upper, gossan portion of the deposit by open pit, East West acquired a property which has undergone about $60 million worth of work.
Once the funding for a new mill (totalling $30 million) was in place, in June, 1988, East West stepped on a fast track leading to production this year. Crews have been working flat out ever since. Proton Systems of Vancouver, B.C., was retained to constuct the mill and J.S. Redpath jumped in to develop the underground captive cut-and-fill stopes.
The objective is to produce 10,400 tonnes of concentrate per month which will be sold to three European Imperial smelters. These smelters have agreed to take about 90% of the concentrate for a minimum of three years. Caribou Fact Sheet Location: ……… 50 km west of Bathurst, N.B. Major owners: ……… East West Minerals N.L. Operator: ……… Caribou New Brunswick Mining Reserves and category: ……… 5,428,000 tonnes of proven and probable ore grading 8.77% zinc, 3.91% lead, 113.25 g silver and 1.66 g gold per tonne. Plus an additional 5.5 million tonnes of possible ore grading 8.37% zinc, 3.59% lead, 101.76 g silver and 1.78 g gold per tonne. Metal(s) to be produced: ……… 126,000 tonnes of concentrate per year containing zinc, lead, gold and silver. Discovery date: ……… 1954 Production decision: ……… N/A Start-up date: ……… January, 1989 (commercial production) Budgeted capital costs: ……… $30 million Actual capital costs: ……… N/A Cash operating costs: ……… $33 per tonne of ore mined (projected). Smelt er charges are expected to be $47 per tonne of ore mined. Means of access: ……… Adit and 20% decline Extent of horizontal workings:
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