Western Copper and Gold, the
Vancouver-based E&D focused on their 100%-owned and extremely rich copper,
gold and molybdenum open-pit development in the Yukon Territory known as the
Casino Property, announced today that the company’s wholly-owned Casino Mining
Corp. subsidiary put in their final proposal for the project to the Yukon
Environmental and Socio-Economic Assessment Board.
Chairman and CEO of WRN,
Dale Corman, explained that a declaration by the Environmental Board of this
final proposal being adequate (which is anticipated within the next few
months), would clear the way for the commencement of more rigorous engineering
efforts, as well as detailed financing for the project’s development. This is a
beautiful copper-gold-molybdenum porphyry deposit and WRN has already mapped
out a conventional flotation mill and heap leach strategy for addressing the
substantial reserves of some 965M tonnes mill ore and additional 157M tonnes
heap leach ore (proven plus probable), which will be retrieved using highly
economical and industry standardized truck-shovel methods.
Initial processing of the
gold-bearing oxide cap on this deposit will provide nice front end
profitability, with the copper/moly concentrate products emerging about two
years into project lifespan. Given the enviable financial position of the
company as of Sept. 30, with $26M in cash and short-term investments, no debt and
the Casino Project neatly tucked under their belt, the six years and over $18M
WRN has put in leading up to this proposal, no doubt feels exceptionally well
spent to shareholders. Not content to rest on their laurels though, WRN is
bucking to sink another one to two million into the permitting completion so
they can get underway by their early 2016 construction target.
Both the President and VP of
Environment Affairs for WRN, Paul West-Sells and Jesse Duke (respectively),
helmed this crucial proposal process, which was led by 90-year industry veteran
international consulting firm, Knight Piésold Ltd., and consisted of a team of
topflight environmental scientists and engineers. This submission is a key step
towards developing the juicy Casino deposit and with confidence running high
that screening of the proposal will go well, WRN is already lining up the
requisite land and water use permit, as well as the quartz mining license work,
with the appropriate Yukon Government authorities.
Licenses and permits in
hand, WRN will be ready to tackle what is easily one of the planet’s biggest
open-pit copper-gold-moly deposits and the abundance of fresh water from the
Yukon River, as well as extant on-site power (power island with dual gas
turbine generators that have heat recovery boilers, as well as a steam
generator and some regular combustion generators for a total capacity of 150
MW) make this rugged site look easily manageable. The NI 43-101 report from
January of 2013 looks solid and we have a clear-cut case of supergene
alteration here with abundant copper further down, granting WRN an easy ramp to
the smelter using conventional recovery methods.
For more info visit the
Western Copper and Gold Corp. site at www.WesternCopperAndGold.com
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