|60km south of Telegraph Creek, British Columbia
Latitude: 57° 22' (North)
Longitude: 131° 10' (West)
5,389.6 million lbs copper
|Deposit Type||Porphyry copper-molybdenum|
|Reserves & Resources||
1,035.3 Mt grading 0.27% Cu, 0.017% Mo, 0.18 g/t Au and 0.45% CuEq
|Mine Type||Open pit|
|Processing Method||Crushing, Grinding, Flotation|
|Estimated Mine Life||23 years|
|Processing equipment||SABC comminution circuit, flotation circuit,molybdenum and copper separation circuit|
Teck Resources Limited
555 Burrard Street, Suite 300
Vancouver, British Columbia, V6C 0B3, Canada
Last updated: June, 11, 2011
The 34,054 ha Schaft Creek copper-molybdenum-gold-silver project is approximately 375 km northwest of the town of Smithers in northwest British Columbia, Canada.
Schaft Creek was the subject of intense and extensive exploration since mineralization was first discovered in 1957. The culminations of this exploration lead Teck Corp. to commission a Prefeasibility Study (PFS) in the early 1980s. Prevailing economic conditions for the next 20 years prevented the deposit from advancing. In 2002, Mr. G. Salazar acquires the right to secure a significant ownership of the property and subsequently incorporated it into the holdings of Copper Fox Metals. As of March 2012, Teck still owned an indirect 23.4% but was divesting its interest; the company has a back-in clause for up to 75% interest.
The Schaft Creek deposit is a large, multi-phase, complex, porphyry copper-molybdenum gold-silver system boasting a combined measured and indicated mineral resource of 1,035.3 Mt grading 0.27% Cu, 0.017% Mo, 0.18 g/t Au and 0.45% CuEq.
A 2008 positive PFS highlighted the option that the Schaft Creek deposit has to be mined by open pit mining methods over a 23 years mine life with the concentrator processing 100,000 tonnes per day. The Schaft Creek resource is amenable to the typical conventional flotation methods utilized for copper/molybdenum porphyry deposits.
The Schaft Creek mineral claims are located in traditional lands of the Tahltan Nation. On May 4, 2007, Copper Fox and the Tahltan Nation announced that they had completed a Memorandum of Understanding aimed at advancing the project.
Copper Fox Metals is working toward completing a Feasibility Study in the first quarter of 2012. On receipt of a positive Feasibility Study Teck has 120 days to exercise its earn-back option.
The Schaft Creek project is approximately 60 km south of the village of Telegraph Creek, 45 km due west of Highway 37, and approximately 375 km northwest of the town of Smithers. It is situated on the eastern edge of the Coastal Mountain Range in north central British Columbia.
The Schaft Creek valley area, at an elevation of 866 m, is the up-stream extension of the Telegraph Creek Lowlands. The surrounding mountain to the south and west of the deposit is steep and rugged. Most precipitation from October through May falls as snow.
The Schaft Creek property is a remote, greenfieldsite with no developed roads leading into it. The property is best accessed by helicopter or fixed wing aircraft.
The property is approximately 375 km northwest of the town of Smithers, BC. Smither is the closest supply centre with the capacity to service the project during construction and operation.
The Schaft Creek property is within the traditional territory of the Tahltan Nation. Three predominantly-Tahltan communities are within 125 km of the property. They are Telegraph Creek, Dease Lake and Iskut. These three communities will provide labor during construction and operation of the mine.
The Schaft Creek deposit is a large, multi-phase, complex, porphyry copper-molybdenum gold-silver system consisting of three distinct, semi-continuous, and structurally modified zones genetically related to the Hickman batholith.
The deposition of sulphides at Schaft Creek is the result of a complex polyphase series of mineralizing events. Sulphide mineral composition: chalcopyrite (50%), pyrite (22.8%), bornite (14.2%) and molybdenite (13%). Chalcopyrite and bornite, the most essential copper ore minerals, occur in stockworks, as disseminations, and in breccia.
Combined Measured and Indicated Mineral Resource of 1,035.3 Mt grading 0.27% Cu, 0.017% Mo, 0.18 g/t Au and 0.45% CuEq. Inferred Mineral Resource of 301.3 Mt grading 0.24% Cu, 0.011% Mo, 0.14 g/t Au and 0.37% CuEq.
The results of the Titan-24 geophysical surveys completed in 2010 and the extension of the higher-grade copper-gold molybdenum-silver mineralization to the east and at depth in theParamountzone in 2011 demonstrated the potential to increase the size and average grade of the Schaft Creek deposit.
Schaft Creek is to be mined by open pit mining methods. Mine life was calculated at 23 years and life-of-mine (LOM) strip ratio is 1.88 for 1,547,559t of waste mined.
LOM ore mined to mill would total 759,156 t at 0.309% copper, 0.216 g/t gold, 1.78 g/t silver, 0.021% molybdenum. Total copper production was estimated at 5,389.6 million pounds.
Mine equipment would consist of Primary Drill - Four P&H 120A (311 mm Electric Drill); Highwall Drill – One Sandvik D245S (150 mm Diesel Drill); Four P&H4100XPC Cable Shovels (104t); One Cat 3516 GENSET; and, 28 Cat 797B Haul Truck (345t).
The concentrator has an annual throughput of 36,000,000 t or 100,000 tpd.
The concentrator will include an SABC comminution circuit followed by a bulk flotation circuit, a molybdenum separation circuit and a copper circuit. The copper circuit has a thickener, filters and a concentrate stockpile. The molybdenum circuit includes filtration, drying and bagging equipment.
The Schaft Creek resource is amenable to the typical conventional flotation methods utilized for copper/molybdenum porphyry deposits. The results indicate that high-grade copper flotation concentrates can be achieved due to the presence of secondary copper minerals such as bornite, covellite and chalcocite.
Molybdenum occurs throughout the resource and can be recovered into a saleable concentrate. The molybdenum concentrates should contain approximately 368 ppm rhenium.
Gold and silver grades in the copper concentrate appear to average approximately 22 and 158 g/t respectively.
Tailings thickeners, tailings storage facility and water reclaim are part of the tailings management system.
There are no known environmental liabilities associated with the property. Although there is little surficial soil in the pre-mining topography, any suitable surficial soils excavated during mining will be stored in stockpiles and used to cap the re-contoured landscape at decommissioning.
Post closure landform, reclamation and ARD/heavy metal impacts of the project will be the subject of extensive work in future studies.
The Schaft Creek mineral claims are located in traditional lands that Tahltan Nation have occupied and used. Copper Fox has initiated discussions with Tahltan Nation Development Corporation, which represents the economic arm of the Tahltan Nation, to set out the joint understanding and intention of both parties to cooperate in carrying out the work at the Schaft Creek project. On May 4, 2007, Copper Fox and the Tahltan Nation announced that they had completed a “Memorandum of Understanding” (MOU).
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