Production at the Duck Pond base metal deposit near Buchans, Nfld., should start in late 2006 following a production decision by Aur Resources (AUR-T).
The operation will exploit the larger Duck Pond deposit from a decline ramp and the smaller Boundary deposit from an open pit. Both mines will feed a single flotation plant. The project is estimated to have a capital cost of $92 million.
The project has a reserve of 4.1 million tonnes grading 3.29% copper, 5.68% zinc, 0.9 gram gold and 59 grams silver per tonne. About 400,000 tonnes of the reserve are in Boundary.
About 1.1 million tonnes of inferred resources, grading 3.04% copper, 7.05% zinc, 0.8 gram gold and 71 grams silver per tonne, are expected to be converted to reserves. Reserves and resources together offer about nine years of mine life.
Production would be at a rate of 1,800 tonnes per day, with 18,600 tonnes copper, 34,500 tonnes zinc, 536,000 oz. silver and 4,100 oz. gold being produced annually. Aur has previously estimated cash costs at US$880 per tonne of copper produced, after credits for the other metals.
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