Redhawk Resources Inc TSX:RDK announced preliminary results of an updated resource estimate for its Copper Creek Property in Pinal County, Arizona. Using a cutoff of 0.2% copper equivalent, the measured and indicated resource shows 0.44% copper, 0.01% molybdenum and 1.37 g/t silver for 4.45 billion pounds copper, 86.83 million pounds molybdenum and 20.04 million ounces silver. The inferred resource shows 481.31 million tonnes grading 0.34% copper, 0.01% molybdenum and 0.9 g/t silver for 3.3 billion pounds copper, 63.22 million pounds molybdenum and 12.63 million ounces silver.
The 0.2% cutoff reflects the potential economics of large-scale open-pit mining. The estimates are based on metal prices of $3 per pound copper equivalent and contained within an open-pit geometry using industry-comparable estimates for direct mining, milling, and general and administrative costs. The estimate was prepared by Independent Mining Consultants of Tucson, Arizona. An NI 43-101 technical report will be completed within 45 days and filed with SEDAR.
J. Stephen Barley
by Greg Klein