Yellowhead Mining Files Feasibility Study on SEDAR
2012年3月28日 - 8:25AM
PR Newswire (Canada)
TSX-V:YMI VANCOUVER, March 29, 2012 /CNW/ - Yellowhead Mining Inc.
("Yellowhead" or "the Company") has filed its National Instrument
43-101 Technical Report - Feasibility Study for its Harper Creek
project on SEDAR (www.sedar.com). The Feasibility Study will also
be available on Yellowhead's website (www.yellowheadmining.com).
Results from the Feasibility Study were previously announced on
March 2, 2012. The Feasibility Study confirms the technical and
financial viability of constructing and operating a 70,000
tonne-per-day copper mining and processing operation at Harper
Creek. Jay Collins of Merit Consultants International Inc., a
Qualified Person under NI 43-101, has reviewed and approved the
technical content of this news release. About Yellowhead Mining
Inc. Yellowhead's Harper Creek Project is a copper-gold-silver
volcanogenic sulphide deposit located in south-central British
Columbia, approximately 150 kilometers by highway north of
Kamloops. Feasibility Study results announced on March 2,
2012 showed a pre-tax NPV(8 )of $749.7 million with an IRR of 20.2%
based on long-term metal price projections of US$2.50/lb Cu,
US$1,250/oz Au and US$20/oz Ag, and a US$:Cdn$ exchange rate of
0.86:1. The Feasibility Study demonstrated a 28 year project
life at a milling rate of 70,000 tpd (25.55Mt/y). The project as
designed is expected to produce a total of 3.63 billion pounds of
copper, 372,000 ounces of gold and 14 million ounces of silver
contained in concentrate. At a 0.14% Cu cutoff, Proven
Reserves are estimated at 401.18Mt @ 0.272% Cu, 0.031g/t Au and
1.15g/t Ag; Probable Reserves 303.22Mt @ 0.248% Cu, 0.027g/t Au and
1.13g/t for a total Proven and Probable Reserve of 704.4Mt @ 0.262%
Cu, 0.029g/t Au and 1.14g/t Ag. The Feasibility Study is based on
an updated resource (refer to news release dated February 16,
2012). At a 0.20% Cu cutoff Measured Resources are estimated
at 348.5Mt at 0.31 % Cu, 0.034g/t Au, 1.3g/t Ag; Indicated
Resources at 466.5Mt at 0.28% Cu, 0.03g/t Au, 1.3g/t Ag for a total
Measured and Indicated Resource of 815Mt at 0.29% Cu, 0.032g/t Au
and 1.3g/t Ag (5.26 billion pounds of copper contained). A
further 80.17Mt at 0.30% Cu, 0.033g/t Au, and 1.4g/t Ag are
estimated in the Inferred Resource category (0.53 billion pounds of
copper contained) and is reported as waste in the mine production
schedule until it can be upgraded by additional infill drilling.
Yellowhead has a 100% interest in the Harper Creek Project (subject
to the payment of a 3% NSR royalty capped at $2.5 million, adjusted
for inflation and an additional 2.5% NSR royalty on an estimated
1.5 Mt of ore which is expected to be mined beginning in year 16 of
the Feasibility Study mine plan). Forward Looking Statements Except
for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of
applicable securities laws. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
statements, including, among others, the accuracy of mineral grades
and related assumptions, inherent operating risks, planned
expenditures, proposed exploration and development at the Harper
Creek Project, operating and economic aspects of the Harper Creek
Project, as well as those risk factors identified in the Company's
Annual Information Form filed under the Company's SEDAR profile.
Yellowhead undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change except as required by law. The reader is cautioned
not to place undue reliance on forward-looking statements. More
detailed information about potential factors that could affect
projected results is included in the documents filed from time to
time with the Canadian securities regulatory authorities by
Yellowhead. This news release includes disclosure of scientific and
technical information, as well as information in relation to the
calculation of mineral resources and reserves, with respect to the
Harper Creek Project. Yellowhead's disclosure of mineral resource
and reserve information is governed by National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101") under
the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources
and Mineral Reserves, adopted by the CIM Council, as may be amended
from time to time by the CIM ("CIM Standards"). There can be no
assurance that mineral resources will ultimately be converted into
mineral reserves. Mineral resources are not mineral reserves and do
not have demonstrated economic viability. This news release uses
the terms "measured", "indicated" and "inferred" resources. U.S.
persons are advised that while such terms are recognized and
required by Canadian regulations, the U.S. Securities and Exchange
Commission does not recognize them. "Inferred Resources" have a
great amount of uncertainty as to their existence and as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an inferred resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred resources may
not form the basis of feasibility or other economic studies. U.S.
persons are cautioned not to assume that all or any part of
measured or indicated resources will ever be converted into
reserves. U.S. persons are also cautioned not to assume that all or
any part of an inferred mineral resource exists, or is economically
or legally mineable. Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Yellowhead Mining Inc.
CONTACT: Ronald Handford, Executive Vice President, Corporate
Development 604.681.1709 Ext. 204Email:
rhandford@yellowheadmining.comWebsite:
www.yellowheadmining.comTwitter: http://twitter.com/#!/YMI_Mining
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Yellowhead Mining (TSXV:YMI)
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