Situated 65 miles northwest of Watson Lake, Y.T., the Logan project is estimated to contain a geological reserve of 13.5 million tons grading 6.17% zinc and 0.77 oz silver per ton, with most of this reserve amenable to open pit mining methods.
The calculation by Cordilleran Engineering was based on 103 diamond drill holes totalling 53,900 ft and a 2.0% zinc cutoff.
According to project operator Total Energold, the reserve is within a mineralized zone 3,750 ft long and 475 ft wide that has been drilled to a depth of 900 ft.
Favorable zinc prices and the prospect of low cost, open pit mining have encouraged the joint venture partners to seek the participation of base metals producers to develop the Logan project.
Under the current agreement, Total Energold must carry the project to a production decision at no cost to Fairfield Minerals.
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