MOLYBDENUM STUDY: Robust economics projected for restart of Kitsault mine

BRITISH COLUMBIA - Avanti Mining of Vancouver is projecting "robust economics" for its reopened Kitsault molybdenum mine, based on the results of a recent feasibility study prepared by AMEC. The property has an estimated measured and indicated resource of 298.8 million tonnes grading 0.072% Mo plus an inferred resource of 157.1 million tonnes grading 0.05% Mo. In the best-case scenario, the mine and plant would be ready for startup in early 2014 after an expenditure of US$770 million.

The study proposes an open pit that would supply 40,000 t/d to a conventional flotation mill with a SAG-ball mill-pebble crusher circuit. Moly concentrate would be dried and bagged for shipment. Mine life is estimated at 16 years during which time 326,160 tonnes of concentrate would be produced.

The former Kitsault mine is located about 140 km north of Prince Rupert. It was mined from 1968 to1972 and again in 1981-82. Total output during those years was 30 million lb of molybdenum.

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