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Woodruff Capital Management Selects Met-Chem to Undertake Scoping Study on Estrades and Extends Drilling Program
Woodruff Capital Management Selects Met-Chem to Undertake Scoping Study on Estrades and Extends Drilling Program.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 15 /CNW/ - COGITORE Resources, a division of Woodruff\nCapital Management Inc. (the \"Company\") (WOO: TSX-V) is pleased to announce\nthat it has selected Montreal-based Met-Chem to undertake a scoping study on\nthe company's Estrades Project in Quebec. The study will commence in mid-March\nand is expected to be completed by May of this year. The purpose of the study\nis to obtain a preliminary estimate of the capital and operating costs that\nwould be associated with the development and mining of part of the remaining\nresources at the 100% owned Estrades deposit.\nCogitore President GDerald Riverin, Ph.D., P. Geo. stated: \"We believe\nthat it is in our shareholders' best interests to carry out this scoping study\nin light of existing mining infrastructure at Estrades and current high metal\nprices. The validation of the historical Mineral Resource estimate and the\ncompletion of the scoping study in May will represent a significant milestone\nfor the Company in unlocking the full value of its projects.\"\nThe objective of the study will be to incorporate the 1992 resource\nestimate to a depth of 400 metres into a mine plan for the project. The 1992\nBreakwater plan will serve as a base for the current scoping study but\nalternatives for the development of the project will also be reviewed. The \nMet-Chem study and report will determine whether a definitive feasibility\nstudy is warranted in light of the existing mine development to the 200 metre\nlevel, the high grade of the resources and the current favourable outlook for\nmetal prices.\nAccording to the Company's 43-101 Technical Report on the Estrades\nproperty, Jean-Pierre Cloutier, an independent Qualified Person (QP) as\ndefined under National Instrument 43-101, qualified as \"drill indicated\" a\n1992 resource estimate by Breakwater Resources of 271,415 tonnes at a grade of\n7.52 g/t Au, 214 g/t Ag, 0.88% Cu, 13.07% Zn and 1.34% Pb to a depth of\n400 metres. In today's standards these estimates would not comply with CIM\nDefinition Standards on Mineral Resources and Mineral reserves that were\nprepared by the CIM Standing Committee on Reserve Definitions and adopted by\nCIM Council, November 14, 2004. While Cloutier believes these numbers to be\nthe most accurate, the Company has not yet done the work necessary to verify\nthe classification of ...