Jack McClintock
Correspondent
Call me, Ishmael. In the summer of 2006 a research vessel named Akademik Ioffe cruised the High Arctic gathering oceanographic information about the Polar Ocean floor. It was a fast double-hulled Russian spy ship that had been sold to a commercial enterprise after the fall of the Soviet Union. My wife and I took a berth aboard the Ioffe to pursue my dream of exploring territory in that legendary part of the world. We drove north out of Worcester for seven hours to the capital city of Ottawa in the province of Ontario, Canada; then took a seven-hour jet flight due north to Resolute Island in the province of Nunavut. A small barren bit of land, Resolute was named to commemorate heroic exploration related to the search for a North West Passage in the frozen wastes above North America. Barely a dot on the map, it lies nearly 1,000 miles above Hudson Bay and occupies some of the most inhospitable real estate on Earth.
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Northisle tables updated PEA on 22-year mine at North Island project in BC
The Hushamu deposit at NorthIsle Copper and Gold’s North Island copper-gold project near the town of Port Hardy in the northern reaches of Vancouver Island, British Columbia. Credit: NorthIsle Copper and Gold.
Northisle Copper and Gold (TSX: NCX) has released an updated preliminary economic assessment on a 22-year, 75,000 tonne-per-day open pit development within its North Island project at the north end of Vancouver Island in B.C.
The study latest “confirms that the North Island project is one of the most attractive copper-gold porphyry projects in Canada,” the company stated in a press release. The project would mine the Red Dog and Hushamu deposits at North Island and produce a copper concentrate with gold by-products as well as a molybdenum concentrate.
Hushamu deposit at North Island Credit: Northisle Copper and Gold
Northisle Copper and Gold (TSX: NCX) has released an updated preliminary economic assessment (PEA) on a 22-year, 75,000 t/d open pit development within its North Island project at the north end of Vancouver Island in B.C. According to the release, the latest study “confirms that the North Island project is one of the most attractive copper-gold porphyry projects in Canada.” The project would mine the Red Dog and Hushamu deposits at North Island and produce a copper concentrate with gold byproducts as well as a molybdenum concentrate.
Over its lifetime, the mine would produce an average of 95.9 million lb. of copper, 99,900 gold oz., and 3 million lb. of molybdenum a year (155.9 million lb. of copper-equivalent) a year at all-in sustaining costs of $2.14 per lb. of copper-equivalent. Based on an initial capital cost estimate of $1.4 billion and $197 million required in sustaining capital, the after-tax net present