Molybdenum resource tabled for Getty North

Vancouver — An updated resource tally on the Getty North copper porphyry deposit shows the project contains a significant amount of molybdenum, which Getty Copper (GTC-V, GTCDF-O) is looking to extract by a development plan under review.

The project, near Logan Lake in southwestern B.C., hosts indicated sulphide resources of 25.65 million tonnes grading 0.43% copper and 0.015% molybdenum using a 0.2% copper cutoff grade for about 244 million contained pounds (110,000 tonnes) copper and 8.5 million lbs. molybdenum.

An engineering study previously commissioned by Getty looked at recovering molybdenum from a bulk concentrate produced by flotation. The concentrate could be treated on-site, producing copper cathode and molybdenum trioxide through pressure-oxidation leaching. The process is being reviewed as part of a prefeasibility study under way on the deposit.

An additional 6.45 million tonnes of indicated oxide resource averaging 0.54% copper and 0.011% molybdenum has been outlined, however, Getty is unsure whether the molybdenum in the oxide material is recoverable under its proposed processing plan.

Getty North holds inferred sulphide resources of 7.8 million tonnes at 0.35% copper as well, but there is not enough data to apply a molybdenum grade.

The company is also in the process of evaluating the molybdenum content at its nearby Getty South deposit, which hosts an inferred resource of 28.2 million tonnes grading 0.47% copper for about 290 million contained pounds (131,500 tonnes) copper.

Getty Copper purchased a 50% stake in Getty South, plus 100% interests in the Getty Central and Southwest properties, from private company Robak Industries for 6 million shares in 2003. Under the deal, Getty will carry Robak’s 50% interest in the South project through to production. Getty owns its North deposit outright.

Robak, owned by Getty’s managing director, John Lepinski, also retains a 1.5% net smelter return (NSR) royalty on the projects.

Situated just north of and adjacent to Teck Cominco’s (TCK.B-T, TCK-N) Highland Valley copper mine complex, Getty Copper’s projects are close to significant existing infrastructure.

In mid-2007, the company emerged from a prolonged round of litigation involving legal disputes between the company and certain directors and consultants. After three years, an RCMP investigation into the conflict was closed with no recommendation for prosecution. Getty subsequently settled its legal dispute with former directors Robert Gardner and Vittorio Preto, as well as with consultant Ross Glanville.

A 1999 project assessment report by Bateman Engineering recommended proceeding to the feasibility stage on potential development of the oxide material at the North deposit. The study looked at encouraging economics for a cathode copper operation producing 11 million lbs. (5,000 tonne) per year.

Shares of Getty Copper have recently traded around 10 — giving the junior a $6.8-million market capitalization based on its 67.6 million shares outstanding. The stock has a 52-week trading range of 7.5-40.