A preliminary mineral inventory calculation was released by Westpine Minerals (VSE) for the Lower North zone of the Empress showing on the Taseko copper-gold property, 140 miles north of Vancouver, B.C.
Exploration and development of the project is being funded by a unit of Asarco (NYSE) which has the right to earn a 60% interest. Asarco spent $500,000 in 1990, and a total of 11,490 ft. of drilling in 19 holes was completed. The budget for the 1990 program is still under discussion, but is expected to be a minimum of $550,000.
As calculated by an independent consulting geologist, the Lower North zone is reported to contain a preliminary overall mineral inventory of 7.45 million tons grading 0.73% of copper, 0.024 oz. of gold and 0.05 oz. of silver per ton. The depth from surface to the top of the Lower North zone ranges from 350 to 550ft.
The preliminary reserve estimate is classed as “probable or possible” as the drilling density was deemed insufficient to place any of this material into a proven reserve catagory. A cutoff grade of 0.15% copper and tonnage factor of 12 cu.ft. per ton was used for the analysis. In addition, 17 sample points were used to determine overall inventory.
The calculation represents only the Lower North zone, and excludes the Upper zone and 76 zones, the other zones on the Empress showing.
The Lower North zone is still considered to have exploration potential, as do a number of other known zones and exploration targets on the property.
Be the first to comment on "Westpine releases reserve estimate"