The Silver Butte mine property in eastern Oregon is now estimated to contain total reserves of 601,758 tons grading 3.06% copper, 2.06% zinc, with 0.037 oz. gold per ton and 1.08 oz. silver.
The updated reserve released by mine owner Formosa Resources (VSE) is derived mainly from recent underground development, but does not include results from a major second-stage surface and underground exploration program now under way.
The main portion of the updated reserve consists of 498,208 tons grading 2.96% copper, 2.36% zinc, and 0.041 oz. gold and 0.74 oz. silver. The remaining 103,550 tons of 3.53% copper and 0.064% zinc with 0.016 oz. gold and 0.74 oz. silver are classed as probable and possible extensions to the A and F zones.
Formosa has mined about 54,000 tons to the end of October.
Be the first to comment on "U.S. ROUNDUP — Silver Butte updates reserves"