Based on a study by Kilborn and Associates Ltd. reserves in the recently discovered 1100 lens stand at 14.8 million tonnes, the company says. The reserve calculation was announced at the Rouyn- Noranda, Que., operation following a phase 1 drilling program.
Located about 400 m from the existing Mobrun mine workings, the 1100 is one of four massive sulphide lenses which have been outlined by joint venture partners Audrey (70%) and Minnova Inc. (TSE) (30%).
Reserves at the Mobrun mine have been calculated using two different price scenarios. Under the first scenario Kilborn is assuming a 95 cents (US) per lb copper price, 50 cents per lb for zinc, $6.50 per oz silver and $445 per oz for gold.
In scenario two, Kilborn is using a $1.20 per lb copper price, 78 cents per lb for zinc, $5.80 per oz for silver and $445 per oz for gold. Reserves under those scenarios are as follows: Scenario 1 Ore TonnesCopperZincSilverGoldValue Millions%%oz/tonoz/tonGold oz Proven Mobrun 1.20.872.440.9340.076161,948 Probable 1100 lens 60.665.841.2 0.0501,142,954 Total proven and prob. 7.10.695.301.2 0.0531,304,902 Scenario 2 Proven Mobrun 1.20.872.440.9340.076205,209 Probable 1100 lens 6.50.635.611.2 0.0471,614,294 Total proven and prob. 7.60.675.141.2 0.0531,819,503 According to Kilborn, the 1100 lens will be mined at a rate of 1,500 tonnes per day starting around mid-1992 at an operating cost of $32.28 per metric tonne.
Meanwhile, the company says construction of 1,100-ton-per-day milling facility is proceeding on schedule and production should resume by mid-July.
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