Overland halts Yukon base metal mine work
13th Jun 2012
JUNE 13 – Overland Resources has suspended the mine permitting process at its 90%-owned Yukon base metal project in Canada after an economic study indicated it requires a sustained improvement in zinc and lead prices to justify the development.
The economic study recommends a $US247M dual-pit development in preference to single pit/underground mine options. The study shows separate openpits at the Andrew and Darcy zinc deposits would recover 8Mt at 5% zinc and 1.5% lead over 7 years at a life of mine operating cost of $0.70/lb payable metal.
The mine would incorporate a 1Mtpa SAG and ball mill crushing, grinding and flotation circuit to produce separate zinc and lead concentrates producing 95,000wmt 58% zinc concentrate and 28,000wmt 62% lead concentrate annually. Concentrates would be transported by truck to Skagway, Alaska for shipment by bulk carriers.
Overland faces no expenditure obligations to maintain the claims until at least 2026.
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