Drilling is expected to resume on the Huckleberry porphyry copper property near Kemano, B.C., this month. The drilling will complete the planned 1992 program which was recently suspended because of heavy rains.
New Canamin Resources (VSE) is earning a 100% interest in the property from Kennecott by spending a total of $1.5 million. Kennecott has the right to retain a 60% interest in the project at the time of a production decision by paying New Canamin 150% of its costs above the $1.5-million earn-in. New Canamin drilled a total of 34 holes out of a planned 50-hole program this year. The program is designed to outline a higher-grade core of copper mineralization in a larger porphyry body previously drilled in the early 1970s.
The historic work outlined an estimated reserve of about 85.6 million tons grading 0.4% copper.
On completion of the planned 22-hole program, much of it along the eastern edge of the central core, New Canamin’s drilling will cover an area measuring about 1,500×500 ft.
Drilling results to date have been excellent with copper intersections grading up to 1.05% over 290 ft. in the best hole.
Alan Savage, president, said the company plans to file a prospectus in the new year with the provincial government as an initial permitting step. On completion of the drilling, Savage said a reserve estimate and mine plan will be completed and, if warranted, the project will proceed to feasibility.
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