Tulsequah Chief Polymetallic Mine May Live to Fight Another Day

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Two years after losing its permit certificate in a court fight with local environmental groups, a Canadian mining company has renewed hope of reviving the Tulsequah Chief polymetallic mining project. Early this year the British Columbia Court of Appeal resended an earlier certificate denial and now the British Columbia Environmental Assessment committee is reviewing the original application for reapproval process. A mandate from the British Columbia Environmental Assessment committee is expected any day now.

Once approval is attained Redcorp Ventures Limited (Vancouver, British Columbia) will seek financing to proceed with project development and engineering sometime this fall. The project has other obstacles to overcome including metal prices, especially zinc prices, which have hit lows as of late. The Tulsequah chief property is a rich polymetallic (copper, lead, zinc, gold, and silver) deposit. Gold prices have remained strong lately at over $300 an ounce.

The project is located in a remote area where it will require intensive infrastructure improvements to facilitate mining. This includes a 30-mile road to access the mine. Capital costs were previously estimated at $148 million and involve and underground mine, crushers, gravity circuit processing, with an above ground fuel storage area and maintenance building.