Geddes Windy Craggy keeps building reserves

Copper sulphide mineralization in the north zone of the Windy Craggy deposit in the alpine region of northwestern British Columbia is showing increasing widths, according to results from the latest underground delineation drilling released by Geddes Resources (TSE).

Widths are important to the project because low-cost bulk mining methods (costing $4 to $10 per ton) are the only way the deposit could be profitably extracted at today’s copper prices. Preliminary metallurgical results indicate that with fine-grinding, 90% copper recoveries could produce a concentrate grading 26-28% copper.

A 65-mile all-weather road to the potential mill site would cost about $30 million. Concentrates would have to be trucked out to the Haines Highway and potentially to the port community of Haines, Alaska.

Since January, underground drilling has concentrated on three sections, spaced 200 ft apart in the north drill drift and on two similarly-spaced sections in the south drift. The objective is to come up with a total drill-indicated reserve figure on which to base a mine feasibility study. Reserves are currently 77 million tons grading 2.4% copper with precious metals and cobalt values. The study will consider the feasibility of mining the deposit at a rate of 15,000 to 25,000 tons per day.

Consultants Derry Michener Booth & Wahl are preparing the ore reserve figure, Lakefield Research and Bacon Donaldson Labs are conducting preliminary metallurgical work, Wright Engineers are studying various processing facilities and Steffen Robertson and Kirsten, Consulting Engineers are studying ways to dispose of mill tailings.

On the most northerly section, 10570 N, horizontal hole 101 cut sulphides four times over a total width of 148 m. Copper grades ranged from 1.32% over 4 m to 2.65% over 46 m. The average grade over the 148-m section was 1.84%.

Hole 104, drilled at an angle of +30 degrees on the same section, cut copper values ranging from 0.52% over 10 m to 1.92% over 12 m in four individual sulphide intersections.

The north drift is being extended and a cross cut through the deposit will be excavated to provide a bulk sample for further metallurgical testing. The company plans to spend $10.8 million on the property this year.

A subsidiary of Falconbridge Ltd. (TSE) retains a 22.5% net proceeds interest in the project.

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