Development work continues at Louvicourt base metal project

The well-attended annual meeting of Aur Resources (TSE) in Toronto heard upbeat news about base metals development in Canada.

The massive Louvicourt deposit, being developed by Aur and its partners, is the cause of the jubilation.

The copper-zinc-gold orebody, east of Val d’Or, Que., is to produce 24 million tons of ore over 17 years. From that will be recovered more than 1.8 billion lb. copper, 650 million lb. zinc, 500,000 oz. gold and 14 million oz. silver. (These figures translate into recovered grades of 3.35% copper, 1.35% zinc, 0.02 oz. gold per ton and 0.58 oz. silver. Nominal mill capacity is 4,400 tons per day).

Initial production is scheduled for July, 1994, and full production for December, 1995.

President James Gill quoted an anticipated production cost for copper of US51-55 cents per lb. (1993 dollars and exchange rates), after crediting proceeds from zinc and precious metals production.

Louvicourt is a joint venture involving Aur, Teck (TSE) and Novicourt (TSE), a subsidiary of Noranda (TSE). Teck is earning a 25% interest from Aur, following which the remaining ownership will be 30% Aur and 45% Novicourt. Aur is the operator.

The capital budget, to October, 1994, is $349 million.