Owners of the South Kemess copper-gold project have filed the first of two documents required for approval of mine development with the British Columbia government.
El Condor Resources (VSE) and St. Philips Resources (VSE), 60-40 owners of the property in north-central British Columbia, are proceeding with the development of the project while seeking purchase offers.
The joint venture filed a “pre-application for a mine development certificate,” which provides a comprehensive review of the technical, environmental and socio-economic factors governing the project. This document provides regulators with terms of reference for the second document, the “application for a mine development certificate.” The joint venture expects to file the second document within 12 months following the completion of engineering and feasibility programs now in the planning stages.
Minable reserves on the South Kemess property are estimated at 228 million tons grading 0.23% copper and 0.019 oz. gold based on a copper equivalent cutoff grade of 0.4%. The strip ratio on the minable reserve is estimated at 1.28-to-1.
Preliminary mine planning by El Condor is based on a production rate of 44,000 tons per day over an estimated 15-year life.
The mine would produce an estimated 212,000 oz. gold and 60 million lb. copper per year based on preliminary estimates.
El Condor notes that a number of senior mining companies have initiated independent mine planning and metallurgical studies on the project. As a result, El Condor has appointed Goepel Shields and Partners to advise the company on any proposals that may surface.
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