Western Copper and Gold (TSX: WRN; NYSE: WRN) accomplished its 2021 exploration and drilling program and is transferring ahead with the feasibility research at its 100%-owned On line casino copper-gold challenge within the Yukon, 300 km northwest of Whitehorse.
Western Copper, by its On line casino Mining subsidiary, has been conducting baseline environmental and geotechnical in addition to social and financial research since 2008. The 2021 subject program concluded on the finish of September. It consisted of metallurgical and geotechnical drilling, useful resource affirmation drilling, exploration drilling, soil sampling, and Enersoft logging of current and historic cores utilizing synthetic intelligence (AI). Metallurgical packages are underneath growth for each sulphide ore that might be milled and oxide ore that’s amenable to heap leaching.
The corporate has engaged M3 Engineering and Know-how to conduct the feasibility research, focused for completion within the second quarter of 2022. M3 additionally accomplished a preliminary economic assessment in June, and the feasibility research will probably be based mostly on that data.
After taxes and utilizing an 8% low cost price, the research projected On line casino’s web current worth at $2.3 billion and its inside price of return at 19.5%. The after-tax life-of-mine free money circulation is estimated to be $13 billion.
The bottom case contemplates a 25-year mine life. Pre-production capital prices could be $3.3 billion plus sustaining capital of $719 million. The copper focus would common 28% copper, 25.9 grams gold per tonne and 119.8 grams silver per tonne. The molybdenum focus produced would have a grade of 56% moly. A contemplated second section of development would lengthen the lifetime of the challenge to 47 years with $1.8 billion in extra sustaining capital.
The On line casino deposit sources appropriate for milling (first section) embody 20.4 million measured and indicated tonnes grading 0.16% copper and 0.18 gram gold per tonne. The corresponding inferred useful resource is 1.4 billion tonnes grading 0.1% copper and 0.14 gram gold per tonne.
The leachable sources (second section) embody 217.4 million measured and indicated tonnes grading 0.03% copper and 0.25 gram gold per tonne, plus 31.1 million inferred tonnes grading 0.03% copper and 0.17 gram gold per tonne.
The On line casino challenge must endure environmental evaluation by the Yukon Environmental and Socio-economic Evaluation Board and allowing and licencing by the Yukon authorities and Yukon Water Board. Building of a traditional open pit mine and a mineral processing plant would take about 4 years.