RFC expands Pend Oreille play

Drilling has increased preliminary reserves by 39% at the Pend Oreille zinc project in northeastern Washington state.

RFC Resource Finance (TSE) carried out a 21,918-ft. program, consisting of 21 holes, which extended probable reserves to the northeast.

A new structure, the Warren zone, is estimated to contain 2.3 million tons grading 9.41% zinc and 1.63% lead, while the

previously studied zone hosts about 3.6 million tons grading 11.1% zinc and 1.53% lead.

Reserves at Pend Oreille are now estimated at 5.9 million tons grading 10.44% zinc and 1.57% lead.

The Warren zone has a strike length of 1,600 ft. and is still open to the northeast.

The new reserves are expected to add four years to the 7-year mine life projected by the feasibility study. As a result, the rate of return will be enhanced, as will RFC’s ability to finance the project, which the study determined to be economically viable at 55 cents per lb. zinc.

RFC is 73.4%-owned by Inmet Mining (TSE), formerly Metall Mining.