Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Copper Fox Metals (TSXV: CUU) has updated the mineral resource estimate (MRE) on its 100%-owned Eaglehead copper-gold-molybdenum-silver porphyry copper project in northwestern BC.
The MRE was prepared by Moose Mountain Technical Serviceswith a C$5.50 net smelter return (NSR) as the base case for the MRE.
Indicated in situ grades at that NSR are reported as 70.8 million tonnes at 0.221% copper, 0.0108% molybdenum, 0.061 g/t gold, 0.9 g/t silver or 0.326% copper equivalent.
Inferred in situ grades at C$5.50 NSR cutoff are 242.3 million tonnes at 0.192 copper, 0.0035% molybdenum, 0.0434 g/t gold, 0.6 g/t silver or 0.246% copper equivalent.
This is the first time indicated resources were reported for Eaglehead. Copper Fox president and CEO Elmer Stewart described the MRE as a milestone.
“The current pit constrained resource estimate resulted from the geological modelling and compilation completed over the past year and shows a significant increase in project resources when compared to previous historical resource estimates,” he said.
Stewart added that the MRE represents the “upper level of a potentially much larger, open ended porphyry copper deposit.”
