News ! 2.57 Billion Pounds Copper M=I
Last PP Done @ Double Current SP...
Crazy Horse's Taysan at 2.57 billion lbs Cu M+I
2012-02-29 09:22 ET - News Release
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Mr. Mitch Alland reports
CRAZY HORSE RESOURCES INC.: TAYSAN PROJECT RESOURCE ESTIMATE INCREASES TO 459 MILLION TONNES IN THE MEASURED AND INDICATED CATEGORIES, WHICH NOW COVERS ALL RESOURCES FOR A 24-YEAR MINE LIFE
Crazy Horse Resources Inc. has released an updated resource statement prepared by Mining Associates Pty. Ltd. of Brisbane, the company's geological consultant, for its 100-per-cent-held Taysan copper-gold project on Luzon Island in the Philippines.
Highlights:
-- Updated resource estimate for the Taysan Project comprises 459 million tonnes (Mt) in the Measured and Indicated categories, at a 0.1% copper cut-off grade. This revised Measured and Indicated resource now allows for a longer mine life (24 years compared to 15 years previously) based on recently updated pit optimisations.-- Based on Measured and Indicated resources, contained copper increases 7% to 2,579 Mlbs; contained gold increases 15% to 1.46 Moz ounces; contained silver increases 1% to 12.34 Moz; and contained magnetite increases by 11% to 14.89 Mt.-- Pre-feasibility study to be completed in April 2012. -- With 302 drill holes for 82,594 meters of core drilling, the Taysan Project has been sufficiently drilled for defining a compliant bankable feasibility study based on the 15 Mtpa mining operation currently planned.-- a Measured resource of 156 Mt at an average copper grade of 0.31% for 1,077 Mlbs of contained copper; -- an Indicated resource of 303 Mt at an average copper grade of 0.23% for 1,502 Mlbs of contained copper; and -- an Inferred resource of 509 Mt at an average copper grade of 0.18% for 2,065 Mlbs of contained copper.