Campbell Resources granted permit to start mining Merrill Island pit
MONTREAL, Sept. 4 /CNW Telbec/ - Campbell Resources Inc. (the
"Corporation") ("Campbell") (TSX: CCH, OTC Bulletin Board: CBLRF) announces
that it has received the Certificate of Authorization from the Québec Ministry
of Environment that enables the Company to start mining at the Merrill Island
open pit. Beginning immediately, material from the Merrill Island pit will be
processed at Campbell's Copper Rand mill in line with the Company's strategy
to maximize mill throughput.
"The start-up of operations at the Merrill Island pit is a significant
step forward in our strategy to increase the volume of ore processed at the
Copper Rand mill," said André Fortier, Campbell's President and Chief
Executive Officer. "Material from the Merrill Island pit is expected to more
than offset the impact of the previously-announced termination of operations
at the Joe Mann Mine, and development of the high-grade Corner Bay Copper
project is progressing on schedule. The addition of material from these two
deposits is expected to have a positive impact on Campbell's overall unit
costs going forward."
A past producer, the Merrill Island pit is located a short haul,
approximately five kilometres, from the Copper Rand mill. In the initial phase
of mining, approximately 150,000 tonnes will be extracted beginning in
September 2007 at an estimated rate of 20,000 tons per month. The estimated
grade and recovery rate indicate incremental monthly production of
200,000 pounds of copper. In conjunction with this initial phase of mining,
the Company is working to identify additional potential to sustain longer term
production from the Merrill Island pit.
Historic (non 43-101 compliant) resources in the Merrill Island pit are
1.1 million tons measured, grading 0.92% Cu, and 905,000 tons inferred grading
0.53% Cu. The Merrill pit resource estimates are based on prior data and
reports obtained and prepared by previous operators and Campbell. The
necessary work to verify the classification of the mineral resource estimates
has not been completed and the Company is not treating the mineral resource
estimates as NI 43-101 defined resources verified by a qualified person.
(Ref.: May 14, 2007 press release).
Campbell is a mining company focusing mainly in the Chibougamau region of
Québec, holding interests in gold and gold-copper exploration and mining
properties. |
