The Mines Gaspe division of Noranda (TSE) says it plans to proceed with the development of a new copper deposit at the company’s mining operation near Murdochville, Que. Development of the new orebody, known as the E-29 deposit, is expected to cost nearly $6 million, and will add about three more years of production life to the mine.
Work on development of the orebody will begin immediately with initial production scheduled for 1992, says Noranda. A further capital expenditure of around $3.1 million is slated for new equipment and related costs.
The new deposit hosts reserves estimated at around 2.4 million tonnes with an average grade of 2.69% copper, which were outlined following the completion of a $5-million exploration program that began in 1987. The new reserves are adjacent to the existing E-32 orebody, and will expand the Gaspe operation’s current copper reserves to more than seven million tonnes, the company says.
Mines Gaspe, which employs about 550 people, currently operates a 3,000-tonne-per-day mine and copper smelter near Murdochville with an annual capacity of 60,000 tonnes of copper per year.
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