Teck Corp. (TSE) plans to mine the Comet- Davenport property near its Afton copper mine at Kamloops, B.C. Three Vancouver-listed companies: Comet Industries, Davenport Industries and Initial Developers will jointly receive a 25% net royalty payment from Afton Operating Corp., a wholly-owned subsidiary of Teck.
The Comet-Davenport property is close to existing plant facilities and Afton Mine Manager, John Lovering, said they could begin mining what is presently a small orebody there sometime this October. Additional exploration will be carried out while mining is under way, he pointed out. A couple of sites have already been drilled and results are forthcoming.
Lovering declined to discuss tonnage but he said it averages about 0.5% copper. Future plans call for the development of the 27 million ton Ajax deposit which is about six miles away. The Comet-Davenport will “bridge the gap” until the Ajax is ready for mining and prevent a shutdown, he emphasized.
The Afton mill is handling 10-11,000 tons per day most of which has been coming from the Pot Hook pit and low grade stockpiles. Throughput will remain the same when the new Crescent pit is developed on the Comet-Davenport property and low grade stockpiles will supply any additional requirements.
A proposal to construct a road to the Ajax property along Jacko Lake has met with considerable resistance by environmental groups. Afton’s initial proposal placed the road fairly close to the shoreline but a second proposal moves it well above the water level and in a cut so it will be hidden from the lake. The environmental group recommended a detour to the north to access the pit from another side but Lovering said “we couldn’t afford it.”
“There are a number of jobs involved here (180) and this Ajax property, when it’s going, will be good for seven years.” The company would like to access the property this fall so they can avoid a shutdown. “We haven’t got a lot of time but if we get the go ahead in the next few months, we should be all right,” he predicted.
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