A 58-hole drill program has wound down at the Red Chris porphyry copper-gold deposit in northwestern British Columbia.
American Bullion Minerals (VSE) holds an 80% interest in the project, while Teck (TSE) holds the remaining 20% (half of which is carried). The latter can increase its stake to 55% by funding a final feasibility study and placing the project into production.
The 21,400-metre program was intended to upgrade and increase the reserve potential. The deposit was expanded in all directions, including the western extension, by 200 metres.
Previous work outlined a geologic resource of 41 million tonnes averaging 0.56% copper and 0.34 grams gold per tonne, with a higher-grade inner core of 30 million tonnes grading 0.73% copper and 0.48 grams gold.
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