Vancouver – A revamped feasibility study and growing reserves for the Mt. Milligan project in B.C. gave Terrane Metals (TRX-V) a healthy boost.
On news Terrane had increased gold and copper reserves by over 30% respectively to 6 million oz. and 2.1 billion lb. its shareprice jumped 8¢ to 78¢.
Terrane now pegs Mt. Milligan’s proven and probable reserves at 482 million tonnes grading 0.2% copper and 0.39 gram gold per tonne.
With additional reserves comes a 45% longer mine-life of 22 years. The updated feasibility study puts capital costs at $915 million.
Terrane says life of mine cash costs will be US$51 per oz. gold net of copper credits.
Mt. Milligan is 155 km northwest of Prince George, B.C.
More to come
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