A recent private placement has Taywin Resources (VSE) planning the first phase of a 3-part program aimed at proving up direct-shipping tonnage at its 100% owned Merry Widow copper-gold property near Port McNeill, Vancouver Island, B.C.
The company says direct shipping became an option after favorable mill tests were completed earlier this year at an operating copper-gold mine. Encouraged by the low work index and the high recoveries, Taywin is now aiming to prove up sufficient tonnage that can be profitably mined, hauled and concentrated at an existing mill.
Funds from the modest placement will be used in the first-phase program which will consist of stripping and close-spaced drilling carried out between diamond drill holes that previously intersected strong mineralization. The drilling is targeted at areas which can be mined from surface, or at zones which are exposed in existing pit walls and can be mined by drifting directly on the mineralization.
Taywin notes that development work and infrastructure is in place at the former producer, allowing for low-cost production.
In a separate development, Taywin recently converted its interest in the Atlin Ruffner mine from 100% ownership to a cash payment plus a retained 5% net smelter royalty.
The company says the transaction with a private mining group is intended to accelerate development of the property. The historic British Columbia mine includes two major zones showing bulk tonnage potential. Government files list reserves of 64,000 tons grading 18 oz. silver per ton and 5% combined lead and zinc.
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