by Greg Klein | December 14, 2016
Crown Mining TSXV:CWM expects to have a metallurgical review of its Moonlight-Superior copper deposits finished in Q1, the company announced December 14. The study aims to verify recoveries found by Placer-Amex in the 1960s and update processing cost estimates. The northern California deposits sit about two kilometres apart.
Crown also reported receipt of an engineering and economic report on Moonlight-Superior that includes an examination of previous resource estimates and of Whittle pit shells using different copper prices. The report will be used to consider commissioning a PEA, the company stated.
Previous owners released a resource for Moonlight in 2007 and Superior in 2013. Using a 0.2% cutoff, the estimates showed:
- indicated: 146.5 million tonnes averaging 0.32% for 1,044 million pounds copper
- inferred: 80 million tonnes averaging 0.28% for 496 million pounds
- inferred: 54.4 million tonnes averaging 0.41% for 487 million pounds
The deposits form part of Crown’s 18,000-hectare Lights Creek property, which also includes the Engels deposit. At a 0.2% cutoff, its 2013 resource showed:
- inferred: 2.6 million tonnes averaging 1.05% for 60 million pounds
Totals for the three deposits come to 1.044 billion pounds indicated and 1.043 billion pounds inferred. Superior and Engels operated between the 1890s and 1930s. Moonlight was a 1960s discovery.
Crown now plans a small drill program to better define and assess the higher-grade areas of Moonlight-Superior.