A new zone has boosted resources at the Callinan polymetallic mine of Hudson Bay Mining & Smelting (HBM&S), near Flin Flon, Man., the company has reported.
Total resources at the new zone, dubbed the Triple 7, are estimated to be 13.3 million tonnes at a preliminary grade of 2.71 grams gold and 37.71 grams silver per tonne, plus 3.32% copper and 5.78% zinc. Of the total resource, 5.2 million tonnes grading 2.43 grams gold, 38.81 grams silver, 2.65% copper and 6.69% zinc are classified as indicated, whereas 8.2 million tonnes grading 2.88 grams gold, 37 grams silver, 3.81% copper and 5.2% zinc are classified as inferred.
The new zone, which was delineated by underground and surface diamond drilling, is a volcanic-hosted massive sulphide deposit lying between 800 metres and 1,500 metres below surface.
Proven and probable base metal reserves at the Callinan mine, which opened in 1990, stand at 3.2 million tonnes grading 1.4% copper and 4.3% zinc.
Edward Yarrow, HBM&S’s vice president of exploration, says that “many factors will have to be considered” before any decision regarding the possible development of the new deposit can be made. He described the extent and grade of the resource as “good news.”
The Callinan mine is owned and operated by HBM&S, a subsidiary of Luxembourg-based Minorco (MNRCY-Q). Callinan Mines (CAA-V) holds a 6.67% net profits interest.
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