Schaft Creek JV in British Columbia advances to prefeasibility stage

One hole cut 11 metres grading 37.9 grams gold per tonne from 148 metres downhole.

The new assays build on near-record drill results reported in August.

The project is positioned to be the largest copper mine in Colombia, the company says.

AT23WS-44, which returned 11.64 g/t over 108.3 metres, represents the most gold-rich drill hole ever recorded at Atlanta.

The Vancouver-based miner aims to produce an average of 25,000 tonnes of rare earth oxides per year, approximately 10% of the world’s current production.

Company says an updated resource estimate at its Basin project in Arizona has increased its grade by 30% and earned it a $2.5 million royalty payment.

The new project involves updating the western portion of the Nelson mapsheet through the compilation of existing geological data, augmented by field surveys and mapping.

The 33,000-hectare North Island property hosts a number of porphyry copper and gold occurrences at varying stages of development.

The company will make an investment of $12 million to redouble its efforts in Peru.