Hmmm. I don't see any limitiation on this permit:
Tue Nov 8, 2005
MAX Molybdenum Project Awarded Mining Permit
Vancouver, British Columbia: Roca Mines Inc. ("Roca" or the "Company") announces that the British Columbia Ministry of Energy, Mines and Petroleum Resources ("BC-EMPR") has awarded FortyTwo Metals Inc., a wholly owned subsidiary of the Company, a permit (the "Permit") for the MAX Molybdenum Project, 60 kilometres south of Revelstoke, British Columbia.
The Permit allows for the development and operation of an underground mine and onsite concentrator. The Company intends to fast-track initial development of a 500 tonne per day mining operation that would produce up to 72,000 tonnes per year on a campaigned basis. Initial production will focus on the "HG" Zone, including an estimated 260,000 tonnes ("measured") grading 1.95% MoS2 hosted within the larger MAX deposit comprising 42.9 million tonnes ("measured" + "indicated") grading 0.20% MoS2. A complete NI 43-101 compliant resource estimate was reported by the Company in September of 2004.
The Company's strategy to fast-track a high-grade mine, is intended to minimize the lead time to production and reduce initial capital costs. The use of existing production-sized underground access to the deposit will be maximized. Expansion of the proposed 500 tonne per day mine and mill will be guided by prevailing molybdenum prices and an assessment of ongoing operating costs in late 2006 and in 2007.
Roca's management team considers the delivery of a mining and milling permit a major achievement and milestone for the Company, its advisors and consultants. Management is currently evaluating its various financial alternative towards rapid development of the underground mine and onsite mill, estimated at a total capital cost of US$15 million.
Mr. Scott Broughton, P.Eng. is the NI 43-101 Qualified Person responsible for the preparation of this news release.
ROCA MINES INC.
"Scott Broughton" |
