50M oz Gold, 245M oz silver, 8.2B pounds copper, 310B pounds moly!!!
Vancouver’s Silver Standard reported Monday the results of a preliminary assessment on the Snowfield and Brucejack projects in northern British Columbia, which detailed the possibility of an average of 700,000 ounces of annual gold production over the life of the mine.
Based on the preliminary assessment prepared by Wardrop Engineering, the Snowfield-Brucejack project would have a capex of US$3.5 billion including $454 million for contingencies.
The 27-year estimated life of mine gold production is anticipated to be 18.91 million ounces with LOM total silver output of 112.36 million ounces. Total LOM copper production is bested to be 1,203,730,000 pounds as well as 99.04 million pounds of molybdenum.
The preliminary assessment also estimated annual average LOM silver production of 4.16 million ounces, an annual average LOM copper production of 44.58 million pounds, and annual average LOM moly production of 3.67 million pounds.
The annual average operating cost is estimated at US$9.38/tonne milled with $8.77/tonne milled for Snowfield mineralization and $12.20/tonne milled for Brucejack mineralization.
In a statement, Silver Standard CEO John Smith said, “This preliminary assessment demonstrates the value of both Snowfield and Brucejack and the potential for a combined development.”
The Snowfield-Brucejack project is adjacent to the Seabridge Kerr, Sulphurets and Mitchell (KSM) with total proven and probable reserves of 30.2 million ounces of gold, 7 billion pounds of copper, 133.1 million ounces of silver and 209.9 million pounds of moly. An updated preliminary feasibility study for KSM is scheduled for early 2011.
