DSR-v...in the news:
Doublestar's Sustut copper resource increased by 21%
Mon 3 Feb 2003
News Release
Mr. Paul Saxton reports
SUSTUT COPPER RESOURCE INCREASED
Work completed by Pincock Allen Holt, Denver, Colo., has materially
increased the potentially minable copper resource at Doublestar Resources'
proposed Sustut copper mine. The increased resource derives from the
addition of near-surface mineralization from the Southwest zone to that
delineated in the Southeast zone.
Pincock Allen Holt (PAH) was retained to calculate a new resource for the
property to National Instrument 43-101 standards of disclosure based on
year 2002 drilling. At the onset, only the Southeast zone was being
considered for feasibility, however, recent work by PAH suggests that, at a
minimum, the Southwest zone should be included as an addendum to the study.
Resource calculations by PAH are as follows:
SOUTHEAST AND SOUTHWEST ZONES AT 0.70%
COPPER CUTOFF GRADE
Grade Product
Tonnage Cu Cu
Category 000s % tonnes
Southeast
Measured 3,638 1.880 68,400
Indicated 1,504 1.879 28,300
Inferred 121 1.776 2,100
----- ----- -------
Subtotal 5,263 1.877 98,800
----- ----- -------
Southwest
Measured 1,233 1.381 17,000
Indicated 1,257 1.279 16,100
Inferred 179 1.202 2,100
----- ----- -------
Subtotal 2,669 1.321 35,200
----- ----- -------
Total 7,932 1.690 134,000
===== ===== =======
SOUTHEAST AND SOUTHWEST ZONES AT 0.65%
COPPER CUTOFF GRADE
Grade Product
Tonnage Cu Cu
Category 000s % tonnes
Southeast
Measured 3,859 1.811 69,900
Indicated 1,638 1.780 29,200
Inferred 132 1.685 2,200
----- ----- -------
Subtotal 5,629 1.799 101,300
----- ----- -------
Southwest
Measured 1,358 1.316 17,900
Indicated 1,385 1.223 16,900
Inferred 189 1.171 2,200
----- ----- -------
Subtotal 2,932 1.263 37,000
----- ----- -------
Total 8,561 1.615 138,300
===== ===== =======Based on these latest calculations, the Sustut project has the potential to
mine 21 per cent more copper (25 per cent at a 0.65-per-cent copper cutoff
grade) than was first envisioned with estimates from the Southeast zone
alone.
In early 2002, Doublestar formed a strategic alliance with Northgate
Exploration Ltd. and Procon Mining and Tunneling Ltd., and began a
feasibility study, headed by AMEC of Vancouver, B.C., in regard to bringing
the Sustut copper property to a production decision. The partnership
expects to complete the feasibility in the first quarter of 2003. In the
event that the feasibility study is positive, the partnership contemplates
that the project will operate as a quarry with Procon conducting mining
operations, Northgate treating the ore at the Kemess Mine, and Doublestar
and Northgate equally sharing the profit attributable to the project.
Permitting will be carried out during the first and second quarter of 2003,
with construction scheduled to begin later in the year. |
