Re: What's our 25% of SC worth?
in response to
by
posted on
Sep 23, 2021 06:16PM
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 resource number comes from a 3D geomodel based on the drillholes. To calculate the PEA economics they have to define a reasonable pit shell design that would allow extraction from an open pit. The geometry of most ore bodies prevents all of the resource to fit within the pit design. Typically you expect to get 60-70% of the resource within the pit. The rest is still there but would have to be extracted by some other mining method such as block and cave, if the grade is high enough. Here's an example from SC that shows the pit shell outline and high grade material below it, which would not be counted as recoverable metal in a PEA or FS.
