Business
Crown Gold Presents Initial Resource Estimates for its Superior Copper Project in California
Toronto, Ontario--(Newsfile Corp. - October 2, 2013) - Crown Gold Corporation (TSXV: CWM) (" Cro...
About this update from Us Copper Corp
[{"type":"text","content":"\nCrown Gold Presents Initial Resource Estimates for its Superior Copper Project in CaliforniaToronto, Ontario--(Newsfile Corp. - October 2, 2013) - Crown Gold Corporation (TSXV: CWM) (\"Crown\" or the \"Company\") is pleased to announce initial resource estimates, compliant with the requirements of National Instrument 43-101 (\"NI 43-101\"), for its 100% controlled Superior and Engels copper deposits located in northeast California, USA.Highlights:An inferred mineral resource of 54 million metric tonnes at an average grade of 0.41% total copper with 487 million pounds of contained copper in the Superior Deposit. An inferred mineral resource of 2.6 million metric tonnes at an average grade of 1.05% total copper with 60 million pounds of contained copper in the Engels Deposit. The estimate is summarized as follows:Deposit Resource classification Metric tonnes Copper grade (%) Contained copper in pounds Superior Inferred 54,400,000 0.41 487,000,000 Engels Inferred 2,600,000 1.05 60,000,000 Total Inferred 57,000,000 0.44 547,000,000 Notes: Engels tonnage has been adjusted by removal of 700,000 tonnes at the average estimated grade above cut-off to account for material historically mined within the pit shell volume.\"We are very pleased to be able to confirm a significant proportion of the historic (non-43-101 compliant) resource estimate for the Superior Project. This NI 43-101 compliant resource estimate for the Superior and Engels Deposits will be the foundation for a focused exploration program designed to expand in open directions the two deposits identified and to advance the inferred resource to the indicated resource category. We are confident that the Engels resource estimate can be significantly increased and more resources can be established at Crown's Sulfide Ridge Deposit situated between the Superior and Engels Deposits.\" states Stephen Dunn, CEO and Director of Crown Gold. In order to establish a reasonable prospect of economic extraction in an open pit context, the resources above were defined: within an optimized pit shell with pit walls set at 45 degrees; estimated recovery of 90% for copper recovered by flotation and 80% for copper recovered by SX-EW; mining costs of $2.80/tonne of material mined; process costs of $8.00/tonne of material processed by flotation and $1.35/lb Cu for material processed by SX-EW...