|Based on NI 43-101 Technical Report filed on Sedar March 10, 2016; results of a new Preliminary Economic Assessment (PEA) was announced Oct 12, 2016 with a report filed November 25, 2016.|
|Resource||15.69 million tonnes oxide, 0.94% Cu, 0.38 g/t Au; Measured and Indicated (NI 43-101 Independent Technical report filed March 2016 on SEDAR).|
|Primary Metals||Copper, gold and silver|
|Process||Heap leach, solvent extraction/electrowinning of copper and cyanide leach of gold and silver (PEA May 2014)|
|End Products||Copper cathode, gold-silver dore|
|Mine Type||Open pit|
|Mine Life||7+ years (based on May 2014 PEA using only 11.98 Mt of ME+IN oxide resource in Zones 1, 4, 7 + 7a)|
|Employees||180 (peak production), 250 (peak construction)|
|Location||220 km north of Whitehorse, Yukon - 400 km from year-round port at Skagway, AK|
|Infrastructure||Good road access, upgrade of a 13 km access road|
|Power||11 km from Yukon power grid|
|Status||Engineering / Permitting|
May 2014, announced Preliminary Economic Assessment (PEA) provides for gold and silver leach, following completion of copper leach. The July 2014 PEA is the first stage of re-engineering of the Carmacks Project to leach copper, gold and silver from the oxide mineralization from three of the numerous zones of mineralization. The July 2014 PEA was prepared by Merit Consultants International Inc and other Independent Qualified Persons.
The July 2014 PEA supersedes the Feasibility Study completed November 2012: Prepared in accordance with the requirements of NI 43-101 by M3 Engineering and Technology Corporation ("M3") of Tucson, Arizona with resource estimation provided by Tetra Tech WEI Inc. ("Tetra Tech") (formerly Wardrop Engineering ("Wardrop")) of Vancouver, British Columbia, and reserve estimation and mine costing by Independent Mining Consultants ("IMC") of Tucson, Arizona. Geotechnical, water management and water quality studies were conducted by Golder Associates ("Golder") of Burnaby, British Columbia. Environmental data were collected by Access Consulting Group ("Access") of Whitehorse, Yukon. The M3 Feasibility is for a copper-only leach operation that is no longer applicable, as the Company pursues a new development plan.
On January 21, 2015, the Company announced that it was going forward with an agitated tank leach of both copper and gold & silver, and therefore eliminating heap leach. The July 2014 PEA will be surperseded with a new PEA and Prefeasibility Study.
Note: The technical report entitled "Preliminary Economic Assessment of Copper, Gold, and Silver Recovery" (the "July 2014 PEA") is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. Refer to the July 2014 PEA, filed on SEDAR under the Company's profile on July 14, 2014, for a discussion of the applicable qualifications and assumptions and the impact on the results of the previous studies on the Carmacks Project.
A new NI 43-101 mineral resource Technical Report was published on Sedar March 20,2016.
The November 2016 PEA will supersede the July 2014 PEA. The new report was filed November 25, 2016. The new PEA is preliminary in nature and includes inferred mineral resources that are considered to speculative geologically to have the economic considerations applied to that that would enable them to be categorized as a mineral reserves and there is no certainty that the PEA will be realized.