Geddes Resources is well ahead of schedule in its work on a 5,500-ft adit to explore the gold zone of the sulphide deposit at its big Windy Craggy copper-gold-cobalt-zinc project, in northwestern B.C.
Chairman Geddes Webster tells The Northern Miner the company is clearing the portal area now and that the collar of the adit will be opened up and timbered within the next two weeks or so.
“We’re about three weeks ahead of schedule,” he says, adding that Geddes is clearly demonstrating that it is no trouble to operate in the area, despite its remote location.
Mr Webster said the adit will be advanced at a rate of about 35-40 ft per day, and is expected to reach the main sulphide zone within about 140 days or by early fall.
As he said earlier (N.M., March 23/87), the company’s immediate target from its current work is the deposit’s gold zone, identified by Falconbridge Ltd. about four years ago. Falconbridge was originally operator on the project but it opted to be reduced from a 51% working interest to a 22.5% net proceeds royalty.
The Windy Craggy deposit has been estimated 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 as well as the gold.
Geddes has raised $6.6 million in flow-through funds, most of which will go into the adit construction.
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