Geddes set for action at big Windy Craggy bet

The big but remote Windy Craggy copper-cobalt property of Geddes Resources in northwestern B.C. has attracted a lot of attention over the past few years but, so far, little money for development.

That situation could be about to change, according to President Geddes Webster.

Having brought onto the Geddes board of directors the former president of Imperial Metals Corp., Alan Savage, Mr Webster is convinced that Mr Savage’s presence will help facilitate a new plan to shortly raise about $6 million in flow-through funds for Windy Craggy development.

And initially it will be gold, not the base metals, providing the motive force.

Bids are already out, Mr Webster tells The Northern Miner, for a 5,500-ft tunnel to be driven to a point some 130 ft below the 160-ft- thick gold zone in the deposit, previously reported to assay 0.29 oz gold per ton, and 1.2% copper.

The Windy Craggy is estimated over-all to contain in the order of 300 million potential tons, at a grade of 1.5% copper, 2 lb cobalt, and measurable amounts of silver and zinc as well as the gold.

The underground program, he says, is designed to intersect and test the gold zone, and some 10,000 ft of diamond drilling is planned to delineate gold reserves.

There’s a further intention to drill and bulk sample the large reserves of copper and cobalt from underground. Though intended mainly as a cross-cut of the gold zone, the adit will be advanced across the deposit to allow for examination of a complete 500-ft wall-to-wall section.

“We are estimating the cost of the tunnel alone will be from $4 million to $5 million,” Mr Webster says, with the balance of the expected funds to be used for the bulk sampling, diamond drilling programs.

The company should have the money in place and let the tunnelling contract by about the end of February next year. “We could then go in in May to start the physical operation,” the Geddes president said.

A feasibility study would be scheduled for about a year from now.

Geddes already has an airstrip built in the area of the deposit, and the tunnelling and subsequent work would be a completely air- supported operation, using STOL Caribou aircraft.

Mr Webster says that, in addition to the Windy Craggy, the company has recently been working on its minerals claims known as the Tats property, adjacent and to the south of the Windy Craggy. He said a grab sample of surface mineralization there returned assays of 7.9% copper and 0.30 oz silver per ton. Further work is planned on the Tats in the 1987 field season.

The stock of Geddes Resources, which has been strengthening in recent weeks, is currently trading in the $2 range.