Vancouver – Northern Dynasty Minerals’ (NDM-T) independent resource estimate for the Pebble porphyry gold-copper-molybdenum deposit in southwestern Alaska, confirms its astounding magnitude.
The estimate, by Roscoe Postle Associates provides three resource scenerios; at 0.3% , 0.5% and 0.7% copper equivalent cutoffs.
In the middle, at 0.5% Pebble is estimated at 1.6 billion tonnes grading 0.35% copper, 0.39 grams gold per tonne and 0.018% molybdenum (or 0.69% copper equivalent) in the measured and indicated category – containg 12.7 billion lbs. copper, 20.5 million oz. gold, and 629 million lbs. molybdenum.
There are another 417 million tonnes grading 0.31% copper, 0.42 grams gold and 0.018% molybdenum (0.67% copper equivalent) in the inferred category – for 2.9 billion lbs. copper, 5.6 million oz. gold and 168 million lbs. molybdenum.
Roscoe Postle’s estimate is based on results from over 70,000 metres in 265 holes drilled by Northern Dynasty in 2003 and 2004, and and over 19,000 metres in 118 holes drilled by Teck Cominco (TEK-V) up until 1997.
Roscoe Postle used copper equivalents unadjusted for metallurgical recoveries, based on prices of US$1 per lb. copper, US$400 an oz. gold, and US$6 per lb. molybdenum.
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