Discovered in the 1970s, the deposit is hosted in a fractured gneiss within a granodiorite stock. The mineralized zone is 90×2,200 ft. Drilling has intersected copper mineralization to a depth of 1,600 ft of which the upper 800 ft is oxidized, Thermal says.
Both companies are examining the possibility of using a solvent extraction electrowinnings (SX- EW) process to leach the copper oxide material. A low-cost process technique which is used extensively in the U.S, SX-EW yields direct shipping copper cathode.
A first-phase program in progress includes metallurgical testing on a 1.5-ton bulk sample taken from the property. If positive, an in-fill drill program will be performed beginning in March or April, 1989, President Dale Corman of Thermal told The Northern Miner.
A 22-mile section of road will also require upgrading, which Corman says will likely receive territorial government assistance. A major cost item is power, which will require about 26 miles of line in order to reach the site.
Over-all capital costs, taking into consideration the project’s location and similar SX-EW projects in the U.S., will be in the $30-40 million range, The Northern Miner estimates.
Corman says the partners envisage a 750,000-ton-per-day operation capable of producing about 13 million lb of copper per year. Thermal has 11.1 million shares issued, of which 59% are held by management.
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