Cambior develops Grevet property

The polymetallic Grevet project in northwestern Quebec will be prepared for production in late 1985 or early 1996 at a cost of $81 million.

Directors of owner Cambior (TSE) recently approved the feasibility study for the zinc-copper-silver-gold project, 80 km northeast of

Lebel-sur-Quevillon, which will process 2,500 tonnes of material per day.

Annual production is expected to average 134,000 tonnes of

zinc concentrate and 12,700 tonnes of copper concentrate. Recoveries are estimated at 95% zinc and 81% copper.

The preproduction program will be carried out during the next 18 months, with its completion expected in December, 1995. The work includes development of the underground infrastructure, stope preparation, and the facilities and mine equipment required for the underground operation.

A 2,500-tonne-per-day concentrator will be built, as well as a slurry backfill plant and other facilities and shops required for mining operations. A new 40-km powerline and improvements to a section of Route 101 are also planned.

An initial budget of $18 million has been approved for work to be carried out during the second half of 1994. Cambior says investment of the remaining $63 million is subject to the receipt of environmental permits, trends in the zinc price and the securing of government financial assistance. The company has already submitted applications for subsidies available for the public infrastructures related to the project.

Probable and possible reserves are estimated at almost 11 million tonnes grading 8.5% zinc, 0.45% copper, and 35 grams silver and 0.09 grams gold per tonne. Current reserves will support a 12-year mine life.