Top Mining News : This is the mining news about nash Creek Project in New Brunswick. It is reported that Slam Exploration Ltd. announces it has received a draft 43-101 Technical Report and resource estimate from Wardrop Engineering Inc. for its wholly-owned Nash Creek Project in New Brunswick. The complete mining news is as follows:
SLAM Exploration Ltd. announces it has received a draft 43-101 Technical Report and resource estimate from Wardrop Engineering Inc. for its wholly-owned Nash Creek Project in New Brunswick.
Using a 2% Zinc Equivalent cut-off and after mill recoveries are factored in, Wardrop estimates the Nash Creek deposit contains an indicated resource of 7,807,900 tonnes grading 2.72% zinc, 0.55% lead and 18.26 g/t silver plus an inferred resource of 1,211,700 tonnes grading 2.66% zinc, 0.52% lead and 18.00 g/t silver.
Drilling has been audited and validated by Wardrop in accordance with CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and within NI 43-101 guidelines by Bob Jankovic, P. Geo., an independent Qualified Person as defined by NI 43-101.
Mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) by Bob Jankovic, P.Geo. of Wardrop Engineering, an independent Qualified Person as defined by NI 43-101.
Wardrop is not aware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing or other relevant issues that could potentially affect this estimate of mineral resources. There is insufficient information at this early stage of study to assess the extent to which the mineral resources will be affected by these factors.
Zinc and lead recovery rates were based on the results from metallurgical tests reported 8 January 2008 (stated below). Mill recovery used for silver was 50%, based on historical data.
The near-surface deposit is amenable to open pit mining. The deposit remains open to the north where the continuation of a resistivity anomaly shows potential to extend the near-surface mineralization.
The property boasts excellent infrastructure with a power-line, railway and major highway transecting the property. These links provide immediate access to the Belledune seaport and lead smelter located within 25 km as well as Xstrata’s BMS No. 12 mine and mill within 75 km. Blue Note’s Caribou mine and mill, currently on care and maintenance status, is approximately 90 km by road from Nash Creek.
Preliminary metallurgical tests reported 8 January 2008 show projected mill recovery rates of 90.5% for zinc and 81.5% for lead. These tests produced a zinc concentrate grading 54.5% zinc, 0.9% lead, 5.7% iron and 115 grams per tonne silver as well as a lead concentrate grading 48.51% lead, 5.88% zinc, 16.83% iron and 160 grams per tonne silver.
Showing posts with label Zinc mine. Show all posts
Showing posts with label Zinc mine. Show all posts
Saturday, March 14, 2009
Friday, February 20, 2009
Slam Exploration announces zinc - lead - silver resource at Nash Creek
SLAM Exploration Ltd. announces it has received a draft 43-101 Technical Report and resource estimate from Wardrop Engineering Inc. for its wholly-owned Nash Creek Project in New Brunswick.
Using a 2% Zinc Equivalent cut-off and after mill recoveries are factored in, Wardrop estimates the Nash Creek deposit contains an indicated resource of 7,807,900 tonnes grading 2.72% zinc, 0.55% lead and 18.26 g/t silver plus an inferred resource of 1,211,700 tonnes grading 2.66% zinc, 0.52% lead and 18.00 g/t silver.
Drilling has been audited and validated by Wardrop in accordance with CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and within NI 43-101 guidelines by Bob Jankovic, P. Geo., an independent Qualified Person as defined by NI 43-101.
Mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) by Bob Jankovic, P.Geo. of Wardrop Engineering, an independent Qualified Person as defined by NI 43-101.
Wardrop is not aware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing or other relevant issues that could potentially affect this estimate of mineral resources. There is insufficient information at this early stage of study to assess the extent to which the mineral resources will be affected by these factors.
Zinc and lead recovery rates were based on the results from metallurgical tests reported 8 January 2008 (stated below). Mill recovery used for silver was 50%, based on historical data.
The near-surface deposit is amenable to open pit mining. The deposit remains open to the north where the continuation of a resistivity anomaly shows potential to extend the near-surface mineralization.
The property boasts excellent infrastructure with a power-line, railway and major highway transecting the property. These links provide immediate access to the Belledune seaport and lead smelter located within 25 km as well as Xstrata’s BMS No. 12 mine and mill within 75 km. Blue Note’s Caribou mine and mill, currently on care and maintenance status, is approximately 90 km by road from Nash Creek.
Preliminary metallurgical tests reported 8 January 2008 show projected mill recovery rates of 90.5% for zinc and 81.5% for lead. These tests produced a zinc concentrate grading 54.5% zinc, 0.9% lead, 5.7% iron and 115 grams per tonne silver as well as a lead concentrate grading 48.51% lead, 5.88% zinc, 16.83% iron and 160 grams per tonne silver.
Thursday, August 7, 2008
Mining News: Lundin says Portugal zinc mine 'not viable', mulls options
By:Liezel Hill
Published on 7th August 2008
Updated 5 hours ago
Shares in base-metals miner Lundin Mining slid on Thursday, after the company posted a second-quarter loss of $108,42-million, and said that its Aljustral project, in Portugal, was not economically viable at current zinc prices.
The company recorded a $152,8-million noncash impairment after writing down the value of the Aljustrel operations, where is is battling falling zinc prices, high input costs and a slower-than-expected ramp-up.
Second-quarter revenue declined to $294,1-million, from $319,9-million a year earlier, which the company said was largely related to weaker zinc prices. Copper sales accounted for 70% of revenue for the period.
The company said on Thursday it was considering its options for Aljustrel, which could include a decision to target the known copper resources for early extraction, and expected to make a decision on the way forward before the end of the third quarter.
As things stand, Lundin now expects to produce 30 000 t of zinc this year from Aljustral, compared with its initial guidance of 51 000 t.
The operation is “a low grade, high cost operation, which at present zinc prices is not a viable business,” president and CEO Phil Wright said on a conference call.
The company realised an average zinc price of $2 115/t in the second quarter, 42% lower than a year earlier.
“The situation remains uncertain and there may be further impairment charges arising from additional capital and pre-production operating expenditures at Aljustrel," added Wright.
Lundin's admission that the Aljustrel operation cannot survive at current zinc prices comes less than a month after Vancouver-based Teck Cominco and its partner Xstrata Resources announced that they would close their Pillar mine, in Australia, prematurely because of slumping metal prices, which were compounded by a strong Australian currency.
Lundin, which owns and operates mines in Portugal, Sweden, Ireland and Spain, revised its copper and nickel production forecasts for 2008 upwards on Thursday, but cut its guidance for zinc and lead.
The company now expects to produce 96 000 t of copper and 7 000 t of nickel, thanks to improvements in copper production at the Neves-Corvo mine, in Portugal, and higher nickel and copper output at the Aguablanca operation, in Spain.
However, it is forecasting output of 45 000 t of contained lead and 181 000 t of contained zinc.
Lundin has made a series of significant corporate transactions in the last two years, including a merger with EuroZinc Mining, a $1,4-billion stock-swap deal to buy Tenke Mining, giving the company a stake in the giant Tenke Fungurume copper/cobalt project being built by Freeport McMoRan, and the acquisition of Rio Narcea Gold Mines for about $925-million.
Shares in the company declined 4,43% in Toronto on Thursday, to C$5,18 apiece.
Editor:Liezel Hill
source: miningweekly.com
Published on 7th August 2008
Updated 5 hours ago
Shares in base-metals miner Lundin Mining slid on Thursday, after the company posted a second-quarter loss of $108,42-million, and said that its Aljustral project, in Portugal, was not economically viable at current zinc prices.
The company recorded a $152,8-million noncash impairment after writing down the value of the Aljustrel operations, where is is battling falling zinc prices, high input costs and a slower-than-expected ramp-up.
Second-quarter revenue declined to $294,1-million, from $319,9-million a year earlier, which the company said was largely related to weaker zinc prices. Copper sales accounted for 70% of revenue for the period.
The company said on Thursday it was considering its options for Aljustrel, which could include a decision to target the known copper resources for early extraction, and expected to make a decision on the way forward before the end of the third quarter.
As things stand, Lundin now expects to produce 30 000 t of zinc this year from Aljustral, compared with its initial guidance of 51 000 t.
The operation is “a low grade, high cost operation, which at present zinc prices is not a viable business,” president and CEO Phil Wright said on a conference call.
The company realised an average zinc price of $2 115/t in the second quarter, 42% lower than a year earlier.
“The situation remains uncertain and there may be further impairment charges arising from additional capital and pre-production operating expenditures at Aljustrel," added Wright.
Lundin's admission that the Aljustrel operation cannot survive at current zinc prices comes less than a month after Vancouver-based Teck Cominco and its partner Xstrata Resources announced that they would close their Pillar mine, in Australia, prematurely because of slumping metal prices, which were compounded by a strong Australian currency.
Lundin, which owns and operates mines in Portugal, Sweden, Ireland and Spain, revised its copper and nickel production forecasts for 2008 upwards on Thursday, but cut its guidance for zinc and lead.
The company now expects to produce 96 000 t of copper and 7 000 t of nickel, thanks to improvements in copper production at the Neves-Corvo mine, in Portugal, and higher nickel and copper output at the Aguablanca operation, in Spain.
However, it is forecasting output of 45 000 t of contained lead and 181 000 t of contained zinc.
Lundin has made a series of significant corporate transactions in the last two years, including a merger with EuroZinc Mining, a $1,4-billion stock-swap deal to buy Tenke Mining, giving the company a stake in the giant Tenke Fungurume copper/cobalt project being built by Freeport McMoRan, and the acquisition of Rio Narcea Gold Mines for about $925-million.
Shares in the company declined 4,43% in Toronto on Thursday, to C$5,18 apiece.
Editor:Liezel Hill
source: miningweekly.com
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