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Gold/Mining/Energy : Champion Resources - CHL.vse
CHL 27.510.0%Sep 27 5:00 PM EST
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To: rdww who wrote (129)7/12/2000 11:49:17 AM
From: rdww  Read Replies (2) of 176
 
NR on Farim and today had a blurb in NP on this NR
As noted - the 15 yr plan currently envisioned is much less than the reserves of Farim.

Champion completes Farim mine plan studies

Champion Resources Inc CHL
Shares issued 30,647,940 Jul 10 close $0.65
Tue 11 Jul 2000 News Release
Mr. Michael McInnis reports
Champion Resources has completed mine-plan studies on the Farim Phosphate
project in Guinea Bissau, West Africa, by MRDI Canada, a division of AGRA
Simons Limited. An initial 15-year mine plan schedules 37.3 million tonnes
of phosphate ore grading 31.0 per cent P(2)O(5), at a mining rate of 2.47
million tonnes per year. The MRDI report confirmed earlier resource
estimates of 166 million tonnes of phosphate ore grading 29.1 per cent
P(2)O(5), which are available to extend the mine life well beyond 15 years.
Farim will be mined by a conventional truck and shovel operation. The soft
nature of the waste rock and ore allows mining to be carried out with no
need for drilling and blasting. Preproduction stripping will require the
removal of 11.6 million cubic metres of overburden to permit the opening of
two mining faces in the pit. As mining proceeds waste material will be back
filled behind the advancing pit faces. Ore excavated in the pit will be
mixed with water and pumped as a slurry to the process plant for upgrading.
The MRDI report forms part of the due diligence/feasibility study report to
be submitted with the application for the proposed South African financing.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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