Journal ArticleMoly mine shows promising future
Published: August 09, 2010 5:00 AM
OnJuly 26, 2010, when the fire risk for the Lower North Thompson Valleywent to a 5 rating for three days Kingsman Resources stopped operationsat their Luxor Molybdenite Property. As a result of the stoppage thecompany decided to hold a show and tell on Friday, July 30, inviting anumber of key players, media, and area representatives.
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As a result, attendees came from as far away as Vancouver and Kelowna to take part in the tour, and to hear about the mine.
KingsmanResources Inc. is an exploration and development company with aparticular focus on gold, copper, silver, lead, zinc, and molybdenumdeposits with a potential for economic grades and large tonnages. Thecompany owns the Luxor Moly Property located 28 kilometers northeast ofBarriere.
The Luxor property is easily accessed by anetwork of good paved and gravel roads to Harper Creek, which emptiesinto the west end of North Barriere Lake. The Luxor property consistsof seven mineral claims totaling 2260.3 hectares in total area. Themineral claims occupy the steep west-facing slope along the east bankof Harper Creek. A flat plateau area, approximately one kilometer wideis found along the east side of the mineral property. Road access ispresent along the west side of the property along Harper Creek and alsoalong the east side of the plateau area at the upper elevations of theeastern side of the Luxor property. Elevations on the property varybetween 850m (asl) along Harper Creek to approximately 1700m throughoutthe plateau area of the property.
On the day of the showand tell, those transported to the site by Kingsman Resources wereimpressed by the steep road that had been carved out of solid rock toaccess the drilling sites. The roadwork had been built by localcontractor Darryl Fennell.
Kingsman reps stated that itwas their intention to hire local people on the project, and thispolicy had proven satisfactory. They note workers from outside the areahave been turned down on job opportunities as the company adheres tothis policy.
Kingsman Resources reps on site were BobMcLaughlin - president, Ralph Bellefleur - accountant, and Ted Drummond- CEO. Included in the attendees were; District of Barriere Mayor MikeFennell, and Sam Phillips representing Simpcw First Nation.
There were also a number of other guests including geologists, engineers and media.
The Luxor property is entirely underlain by quartz monzonites or granodiorites belonging to the Cretaceous age Baldy Batholith.
Thearea of the Luxor property has seen sporadic exploration programscarried out throughout the 1960’s, 1970, 1971, 1980 and 1981. Themajority of this work has consisted of several small-scale geochemicalsoil sampling programs, sporadic rock sampling, prospecting andgeological mapping. A program of 10 diamond drill holes totaling 4,750feet were drilled in 1966, but no results were ever reported.
Soilgeochemical work undertaken by Kingsman in the 2008 field seasonoutlined two sub-parallel north-south striking Mo-in-soil anomaliesthat are greater than one kilometer long and which range in widthbetween 100 and 400 meters.
The newly constructed road facilitates thorough evaluations and allows for drill-testing.
TheLuxor property totals 95 square kilometers, and is located less than 35km southeast of Newmac Resources Inc.’s Crazy Fox property, whereintersections of up to 0.25 per cent Mo across 72 meters have recentlybeen reported.
Kingsman’s target for the Luxor property is that of a bulk-tonnage porphyry molybdenum deposit.
Molybdenumis used mainly as a component of alloyed steel. A silvery white metalwith an atomic number of 42, molybdenum is solid at room temperature,has an atomic mass of 95.94, and appears in the periodic table ofelements under the chemical symbol of “Mo”.
Kingsmansays it will still be a few years yet before the mine can be developedas there are still a number of government regulations that must be met.They do note however, that there are 27 mines that are coming online inB.C. within the near future which could employ 1,000 people.
Theyalso spoke about the benefits to the local economy such as the town ofBarriere which has already experienced commerce due to extended roomstays and meals for their workers.
Kingsman’s CEO TedDrummond said, “I think everybody had a good time, and hopefully got abetter understanding of Kingsman’s best intentions for the communitiesof the North Thompson.”
More information about Kingsman Resources and the Luxor property can be found by going to www.kingsmanresources.com.