mining and Mineral Exploration Industry
website: raymond mill
Although British Columbia skilled a slow commence to the mining and exploration industry in 2009 (as a result of the world slowdown resulting from tight monetary markets), a late season surge in drilling occurred as investor optimism rose in late summer and money became available. Some from the highlights from our own Northwest region show fantastic potential for the 2010 season.
Estimated spending on key and tiny mine development projects was $47 million. Mineral exploration expenditures reached $65 million. There were 17 exploration projects that exceeded $500,000. Exploration drilling totaled about 144,000 metres at 30 drilling programs.
Galore Creek, Red Chris, KSM (Kerr-Sulphurets-Mitchell) and Kitsault lead a group of exciting mine development projects.
Galore Creek copper-gold proposed mine is on hold pending redesign of the project even though construction from the access road continued throughout the year.
Exploration at Red Chris, which also holds a development certificate for an open pit mine, continued for a deep copper-gold deposit.
KSM gold-copper and Kitsault molybdenum projects conducted engineering, environmental and archeological field scientific studies. The KSM project is one of the five largest undeveloped gold resources in the world. It's going to be reviewed under the BC and Canadian environmental assessment processes.
Aggregate resources (measured, indicated and inferred) at the adjoining KSM and Snowfield projects total 4.37 billion tonnes containing 85 million ounces of gold.
And yes, even when you're not familiar with the terminology, that's as large as it sounds!
Kitsault molybdenum mine operated previously and could proceed below an amendment to its existing Mine Permit.
Three small gold projects progressed towards commercial operation.
Yellowjacket project close to Atlin received a Modest Mines Act permit.
Cassiar Gold project began underground development in the Table Mountain mine and surface mining of a bulk sample in the nearby Taurus mine. Function in the two web sites was halted in November.
Near Smithers, the new owner from the closed Dome Mountain mine refurbished the underground workings and applied for a Smaller Mines Act permit to mine the remaining gold resource for off-site milling.
The Endako molybdenum mine spent about $39 million last year, reactivating a significant expansion and modernization program. This was the only significant mine development project active in the region. Huckleberry copper-molybdenum mine, south of Houston, announced a two-year extension of operations, till 2012. Fireside barite, a modest seasonal quarry in the far north, continued operation.
In a landmark move, the governments of British Columbia and Canada agreed to share the price to create the Northwest Transmission line , an extension in the 287 kilovolt power grid to Bob Quinn that could service new mines in the region, like Galore Creek. This really is also encouraging news for exploration projects in the northwest of our province. The proposal is at the moment undergoing the environmental assessment phase and holding public meetings throughout our region.
During 2009, copper, silver and zinc gradually recovered significantly in the value they lost late the preceding year and gold, which had not declined, climbed to a record high value. The price of molybdenum enhanced only a modest amount following it fell far more than any other metal. Thus far, the outlook for 2010 is moderately positive and also the early spring right here in Smithers has everyone anxious to begin exploring.