Commissioned by Consolidated Stikine, the report by Keewatin Engineering estimates geological reserves of 2.8 million tons grading 0.23 oz gold and 3.34 oz silver per ton for the 21 zone discovery. The tonnage estimate used a specific gravity of 2.8 based on limited measurements.
Open pit reserves of three million tons at 0.26 oz gold equivalent per ton were calculated, based on 8% dilution at 0.015 oz ton grade.
According to Consolidated Stikine, the presence of a thick, high grade core near surface would make the entire resource mineable at an approximate 6:1 strip ratio.
The company said the configuration of the mineralized zones would permit the mining of large tonnages of 0.35 to 0.40 oz gold equivalent material in the early years at low strip ratios. A 1,000- tonne-per-day operation and an eight year mine life is envisioned.
During the summer season, a $4 million program is planned to aggressively explore the entire Eskay Creek property and assess its over-all potential.
The summer program will also assess the commercial potential of the reserves currently outlined in 21 zone. Definition controlled drilling of the open pit reserves is planned, along with surface trenching, geotechnical studies, detailed metallurgical testing and design engineering of open pit and transportation routes.
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