Already active on a copper project in the Yukon, Western Copper Holdings (VSE) recently optioned a California copper project with a preliminary reserve estimate of 12.5 million tons grading 0.55% copper, including 7.4 million tons grading 0.75% copper.
Situated 30 miles south of Needles, the 3,000-acre Copper Basin property was extensively explored in 1974. Western can earn a 100% interest, subject to a 3.5% net smelter return, by making payments totalling $65,000 during a 3-year period, and annual advance royalty payments of $20,000 per year starting in 1996.
The Copper Basin property is oxidized to about 200 ft. below surface, with copper occurring dominantly as malachite in the oxide zone, and chalcopyrite in the sulphide zone.
Western is reviewing previous drill data with the objective of defining a near-surface copper-oxide reserve capable of supporting a solvent extraction-electrowinning (SX-EW) operation.
In northern Canada, the company is already well under way with trenching, drilling and metallurgical testwork at the Williams Creek joint venture project 25 miles northwest of Carmacks, Yukon. Western is currently funding the next $960,000 in expenditures on the property (which is also accessible by road).
This year’s program is aimed at testing a number of anomalies peripheral to the No. 1 zone before beginning a feasibility study for a proposed open pit SX-EW operation.
The No. 1 zone contains reserves of 11 million tons grading 1.08% copper and 0.01 oz. gold per ton. Production is scheduled for 1994.
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