The Chu Chua deposit is strategically situated within trucking distance of the high grade silver- copper-lead-zinc Samatosum mine which is operated and 70%-owned by Minnova. Rea Gold (TSE) owns the remaining 30% interest in the recently opened mine.
The open pit plan resulted in a reserve of 1.15 million tons grading 2.97% copper (using a 1% copper cutoff) that could be mined at a 3:1 waste to ore stripping ratio.
If the copper cutoff grade is raised to 1.5%, the reserve is estimated at 893,000 tons grading 3.49% copper with a 4.2:1 strip ratio.
These reserves form part of a much larger, steeply dipping sulphide deposit that is open to depth. Metallurgical test work is under way to assess the mill ing characteristics of the deposit in order to maximize copper recoveries.
Chu Chua is owned equally by International Vestor Resources (VSE), Quinterra Resources (TSE) and Pacific Cassiar Ltd. (TSE). Minnova is earning its 50% interest through exploration expenditures.
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