As a result of this summer’s drilling on the Williams Creek copper-oxide deposit near Carmacks, Yukon, partners Western Copper Holdings (VSE) and Thermal Exploration (ASE) have upped preliminary reserve estimates.
The joint venture estimates total “global” reserves at about 20.1 million tons grading 1.06% copper and 0.013 oz. gold per ton. The reserves extend to a depth of 1,500 ft. at a cutoff grade of 0.5% copper.
Diluted open-pit reserves to a depth of 600 ft. are estimated at about 13.6 million tons grading 1.07% copper and 0.014 oz. gold, up about two million tons from the previous estimate.
Exploration drilling and trenching have also identified three additional zones of copper-oxide mineralization which could add to the project’s potential.
The companies hope to develop the Williams Creek project as a solvent extraction and electrowinning operation producing copper cathodes at a cash cost in the range of 55-65 cents per lb.
A feasibility study is now under way and should be completed by June, 1993, paving the way for a projected startup in mid-1994.
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