The agreement is conditional upon completion by Marshall of a satisfactory feasibility study and receipt of all necessary regulatory approvals. The agreement provides that, upon commencement of commercial production of Restigouche ore by Marshall, East West will process such ore and sell the concentrates in return for 35% of the sales proceeds will be available to Marshall. Mining and processing may be suspended in the event of low metal prices.
Marshall plans to extract a bulk sample of about 50,000 tonnes in the near future to conduct a full- scale plant trial in the East West mill at Caribou. The production of the final feasibility report will follow this plant trial.
The property was acquired last year, and reserve calculations on the open pit portion of the deposit (based on drilling to date) have outlined 1.2 million tons. Grade is 0.35% copper, 5.96% lead, 7.71% zinc, 3.62 oz silver and 0.035 oz gold per ton. Marshall in now applying for environmental permits.
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