In August, Similco Mines, a wholly owned subsidiary of Princeton Mining (TSE), resumed production at its open-pit copper mine in southwestern British Columbia.
The mine operated throughout September at a daily rate of 21,214 tons and is currently processing 25,000 tons per day. Initial production has been from the Ingerbelle stockpile, which contains 10.3 million tons of 0.25% copper and 0.006 oz. gold per ton.
Drilling of the East Ingerbelle zone is increasing grade and tonnage, the overall geological reserve having previously been calculated at 21 million tons grading 0.35% copper.
Over the past five years, Similco produced, on an annual basis, 55 million lb. copper, 15,300 oz. gold and 360,000 oz. silver.
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