RE:updating resource AND economics?
The 2017 PEA noted (https://gcxcopper.com/site/assets/files/3812/amended_carmacks_pea_report_2017-02-09.pdf):
Using the assumptions highlighted in this report, the Carmacks project would require an extension of the mine life through resource expansion, improvements in silver metal recoveries, capital and/or operating cost reduction or modest increases to gold and copper metal prices to be advanced to the next stage of study (Preliminary Feasibility Study).
This looks like they will be covering off work in recommended in the 2017 PEA.
Since 2017, Au and Cu prices have advanced significantly (Table 1.7 of the PEA shows that mineral prices were Cu: $2.50/lb, Au: $1300/oz, Ag: $17.5,).
From the recent releases it looks like they are addressing the other recommendarions of the 2017 PEA. The May 6, 2021 Press Release focuses on the "resource expansion" recommendation:
The program will consist of up to 10,000 meters of drilling focused on upgrading inferred resources to indicated, as well as step out drilling aimed at delineating new resources where the deposit remains open to expansion
The May 18 press release looks like it is covers off the remaining recommendations. This includes: metallurgy, review of alternative leaching methods, ore sorting (to reduce haulage cost), and review of potential mining scenarios.
So it looks like they are picking up where Copper North left off, and are doing the work required to get information to support a PEA.