The Elenita oxide copper project in northern Chile is now
estimated to contain an in situ resource of 9.1 million tonnes grading 1.57% copper.
Owner Princeton Mining (TSE) arrived at the estimate after drilling 114 holes within a 900-by-600-metre area. The entire program spanned 19,000 metres.
The deposit is made up of a series of stacked, subparallel,
strataform mantos varying in thickness from 2 to 36 metres and dipping at about 45. The mineralization remains open to
expansion in a number of directions, as well as at depth.
Princeton is working on pit designs and calculations for a
minable reserve.
Leachability tests are also under way, and consultant H.A. Simons is carrying out a preliminary feasibility study.
Teck (TSE) and Cominco Resources International (TSE) can earn a half interest by financing a final feasibility study and funding the project through to production.
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