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Scoping Study on Estrades completed and delivered by Met-Chem; 43-101 compliant resources calculations commissioned to Roscoe Postle.
Scoping Study on Estrades completed and delivered by Met-Chem; 43-101 compliant resources calculations commissioned to Roscoe Postle..
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\n\nTORONTO, June 2 /CNW/ - COGITORE Resources, a division of Woodruff\nCapital Management Inc. (the \"Company\") (WOO: TSX-V) is pleased to announce\nthat it has received from Montreal-based Met-Chem Canada Inc. the final report\non a scoping study done on the Company's Estrades Project in Quebec. The\npurpose of the study was to obtain a preliminary assessment of the capital and\noperating costs that would be associated with the development and mining of\npart of the remaining resources at the 100% owned Estrades deposit.\nAlthough the study was conducted based on resource calculations that are\nnot compliant with CIM Definition Standards on Mineral Resources and Mineral\nreserves adopted by CIM Council, November 14, 2004, the Company considers the\nresults of the study encouraging enough to justify an independent National\nInstrument 43-101 resource calculation. Accordingly, a resource calculation\nwas commissioned to Roscoe Postle Associates Inc. (\"RPA\"). The RPA work will\nbe conducted primarily by Bernard Salmon, Eng., who is a consulting Geologist\nwith RPA based in Rouyn-Noranda, Quebec. Mr. Salmon is highly qualified and\nhas extensive experience in mining geology and mineral reserves estimation,\nand more specifically on numerous deposits of the Abitibi region. The work is\nexpected to be completed by mid-July 2006. Based on the Met-Chem scoping study\nand on the RPA report, the Company will determine whether a full scale\nfeasibility study on Estrades is warranted.\nCogitore President GDerald Riverin, Ph.D., P. Geo. stated: \"The completion\nof the scoping study and the commissioning of a NI-43-101 compliant reserve\ncalculation by RPA at Estrades mark an important step in the growth of the\nCompany. While Estrades is still a high profile exploration project for the\nCompany, it encloses a small but high grade base and precious metal deposit\nwhich could benefit in the short term from the existing mine development to\nthe 200 metre level and the current favourable outlook for metal prices. While\nthe RPA study is critical to the future of the known resources at Estrades,\nthe Company will continue to aggressively pursue exploration along the 10 km\nstrike length of the favourable horizon.\"\nAccording to the Company's 43-101 Technical Report on the Estrades\nproperty, Jean-Pierre Cloutier, an independent Quali...