The company is earning a 50% interest from International Vestor Resources (VSE), Quinterra Resources (TSE) and Pacific Cassiar Ltd. (TSE), which own the property equally.
The Chu Chua property contains a drill-indicated reserve of about 2.8 million tons grading 2% copper, with zinc, silver, gold and cobalt values. The deposit is still open to extension.
Minnova’s drilling in the top 250 ft of the deposit last year revealed a high grade zone calculated as 785,000 tons of 3.1% copper or 460,000 tons of 4.07% copper, all of which can be mined by open pit methods.
This reserve is reported to be open in both directions on strike, and it will be the extensions that will be tested by the current program. An open pit mineable reserve and open pit design will be prepared upon completion of the drilling.
Metallurgical testing is also in progress to assess the deposit’s milling characteristics.
Chu Chua is located within trucking distance of the 500-ton- per-day polymetallic Samatosum mine operated by Minnova which is now in its start-up phase. Rea Gold (TSE) holds a 30% interest and a 5% net smelter royalty. Reserves are reported as 661,000 tons grading 32.08 oz silver, 1.2% copper, 3.5% zinc, 1.7% lead and 0.052 oz gold per ton, sufficient for about a 5-year mine life.
]]>
Be the first to comment on "Minnova resumes drilling at Chu Chua"