China smelter group agrees to lower Q1 copper charges
The charges tend to fall when ore supply declines and rise when more concentrate is available.
Vancouver-based Rockridge Resources has announced the initial 43-101 resource estimate for its Knife Lake copper-zinc project 50 km northwest of Sandy Bay. Rockridge optioned the property from Eagle Plains Resources and can earn a 100% interest.
The estimate was made using information from Rockridge’s recent drill program and from historic drilling results. The deposit has 3.8 million indicated tonnes grading 0.83% copper, 1,740.7 ppm zinc, 3.7 g/t silver, 0.097 g/t gold, and 82 ppm cobalt – or a copper equivalent of 1.03% using a 0.4% cut-off. There are also 7.9 million inferred tonnes at 0.53% copper, 1,454.9 ppm zinc, 2.4 g/t silver, 0.08 g/t gold, and 53.1 ppm cobalt – or 0.67% copper equivalent using a 0.4% cut-off.
The Knife Lake deposit is a near surface, volcanogenic massive sulphide body. It is open at depth and along strike. The mineralized VMS material is about 15 metres thick and dips 30° to 50° to the east over a known strike length of 3,700 metres. There is also an identified down dip extension of about 300 metres. The geologic setting of the Knife Lake district is similar to the world-class deposits in Flin Flon, Man., says Rockridge.
Rockridge is planning a summer field program to refine and prioritize numerous regional exploration targets.
(This article first appeared in the Canadian Mining Journal)
