Redcorp to revive Tulsequah Chief

Vancouver-based Redcorp Ventures (RDV-T) is planning to revive the Tulsequah Chief mine project in northwestern British Columbia.

Tulsequah Chief is a past producer with a measured and indicated resource of 5.9 million tonnes grading 2.59 grams gold and 107.41 grams silver per tonne, plus 1.42% copper, 1.26% lead and 6.72% zinc. An additional inferred resource contains 3 million tonnes at 2.42 grams gold, 107.86 grams silver, 1.1% copper, 1.19% lead and 6.38% zinc.

A $3-million program now under way at the site will include infill drilling to upgrade the current inferred resource to the indicated category (and to NI 43-101 standards), as well as step-out drilling to expand the resource at depth.

The updated resource will then be used as the basis for a revised mine plan, leading to a reserve estimate for feasibility evaluation.

Redcorp, through subsidiary Redfern Resources, has spent more than $27 million to bring Tulsequah Chief to the mine development approval stage. The company received its Project Approval Certificate in late 2002.