An independent review of mineral resources at the Beaver Brook antimony mine in central Newfoundland has confirmed the estimates of operator Roycefield Resources (TSE).
The report identifies a drill-indicated resource of 1.2 million tonnes grading 4.29% antimony. This total is undiluted, with a cutoff grade of 1.5%.
Underground sampling has yielded antimony grades higher than those obtained from surface drilling, and many underground samples show double the antimony grade of drill core.
The report lists indicated resources of 347,000 tonnes grading 4.34% antimony and probable reserves of 898,000 tonnes grading 3.7%.
Roycefield President Bert Bourgoin says the review, while conservative, supports the calculations of the company.
The 1996 winter drill program has indicated an additional 180,379 tonnes of 3.26% antimony, and the deposit remains open in all directions.
Roycefield is aiming for a late-1996 startup, after which time the mine is expected to last 12 years.
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