Next Page 1 | 2
Pretium‘s Snowfield Deposit has 2011 measured and indicated resources of 25.92 million ounces gold, 75.8 million ounces silver, 2.98 billion pounds copper, 258.3 million pounds molybdenum and 22.5 million ounces rhenium. The inferred category shows 9.03 million ounces gold, 50.9 million ounces silver, 1.1 billion pounds copper, 127.7 million pounds molybdenum and 11.5 million ounces rhenium. This resource uses a 0.3 g/t gold-equivalent cutoff.
West of Brucejack-Snowfield, Seabridge Gold TSX:SEA continues drilling its KSM Project. Earlier this month the company announced discovery of an epithermal-style of gold occurrence with the project’s highest gold grades so far. KSM has proven and probable reserves totalling 38.2 million ounces gold, 9.88 billion pounds copper, 191 million ounces silver and 213 million pounds molybdenum.
Another Mountain Boy interest in the region is its 20% stake in the Silver Coin Project, which is 80% held by Jayden Resources Inc TSX:JDN. Silver Coin’s 2011 resource shows a measured category with 218,410 ounces gold, 918,417 ounces silver and 25.53 million pounds zinc. The indicated category shows 624,006 ounces gold, 3.54 million ounces silver and 65.64 million pounds zinc. The inferred category shows 813,273 ounces gold, 6.7 million ounces silver and 128 million pounds zinc. The cutoff is 0.3 g/t gold.
Last March Jayden entered an option with Decade to acquire a 100% interest in two claims adjoining Silver Coin. The agreement allows Jayden to buy the Grassy 1 and Grassy 2 claims for $60,000 by December 31.
When you have really high grades, you can build a mine anyplace —Louis James quoted in the Gold Report
All those inter-related and overlapping endeavours, all that drilling and all those results are fine—up to a point. But what about the logistics of actually building a mine up there?
The region’s best-known success story was Barrick’s TSX:ABX Eskay Creek, which operated until 2008. Louis James, chief metals and mining investment strategist at Casey Research, referred to it in an interview with the Gold Report:
“I had been aware of Snowfield-Brucejack when it was still in Silver Standard [TSX:SSO],” he said. “We never bought because we just weren’t sure a mine would ever actually get built in this remote part of the world, especially with the low grades. But when you have really high grades, you can build a mine anyplace. Places like Eskay Creek were once very remote, but average grade was over an ounce per ton. That’s what it took to operate in that area.”
Next Page 1 | 2
Pages: 1 2