Underground work at the Beaver Brook antimony project in central Newfoundland has confirmed the interpretation of surface drilling, showing that there is potential for stronger mineralization.
Owner Roycefield Resources (ASE) has advanced its underground ramp to 330 metres to evaluate the mineral structure and grade of three of the drill hole intersections in the East zone. Drifting and crosscutting exposed a vein strike length of 95 metres. Underground sampling and test holes along the entire length returned 9.33% antimony over an average width of 8.3 metres — a 46% increase in contained metal over the assays from surface drilling.
At the current antimony concentrate price of $3,200 per tonne, ore grading 9.33% antimony would have an in situ value of US$300 per tonne.
While no reserves are in the proven category, Beaver Brook contains drill-indicated reserves of more than 1 million tonnes grading 4.62% antimony.
Roycefield is aiming for a late-1996 startup at Beaver Brook, after which time the mine is expected to last 12 years.
Be the first to comment on "Beaver Brook shows potential"