Re: opinion of copper outlook
in response to
by
posted on
Mar 19, 2015 06:15PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
The drilling was stated at 1500m also. Not much drilling really.
That's only the drilling on LaCasse.
We don't know how much drilling is going on for the geotechnical/geometallurgical work. They talk about infill sampling and sampling for lithogeochemistry. We heard ages ago that they were hoping to do this drilling, but it isn't clear how much is involved.
On the topic of whether Teck is charging the salaries of their employees to the JV, I'm quite certain they are. According to the JV Teck can spend up to $60 million on pre-production work before Copper Fox is required to kick in some funds again. If Teck is doing the work using their people, then they are going to count those salaries towards their contribution.