Cominco can earn a 60% interest in the property by spending twice the amount that Prime spends and by delivering a favorable feasibility study. So far, Prime has spent $12.7 million on the property. Cominco has spent or is committed to spend $17.4 million.
Among the projects completed are expansion and upgrading of the Bronson airstrip, construction of surface accommodations, diversion of Sky Creek, and completion of the Bronson Creek berm. In addition, mine development continued on the 180-m, 300-m and 340-m levels, and the portal was cleared in preparation for driving the 130-m haulage tunnel to the mill site on Bronson Creek.
Cominco is continuing with production ramp development and detailed underground drilling for mine planning purposes. A 40,000- ft drill program is under way to test hangingwall stability, ground support requirements, and general mining conditions. This program alone will cost about $3 million.
Ramp development and stope delineation drilling should be completed by August and an evaluation of results by September. The company expects a full feasibility study and production decision from Cominco by October.
Permitting is in progress and this should be completed by October as well. After a production decision is made, Cominco will likely proceed with foundation work and complete all design work. Mill construction would get under way in the spring of 1990 and production in the late summer.
]]>
Be the first to comment on "Prime updates SNIP project"