you mentioned estimating that RC has a billion tons. The Imp estimate from May was about 550 million, so does the difference come from the most recent drill results to the east?
using the figures on III's website, below is some fun with numbers for Red Chris deposits......
From III's plan view, assume the Main zone and East zone each has a separate cone shape.
Volume of a cone = 1/3(pi)(radius squared)(height)
rock density = 2.68
For Red Chris Main, deepest hole is 1000 meters, radius ~400 meters
For Red Chris East, deepest hole is 1500 meters, radius ~380 meters
Main tonnage: 1/3(3.14)(400m)(400m)(1000m)(2.68t/m3)= 448 million tonnes
East tonnage: 1/3(3.14)(380m)(380m)(1500m)(2.68t/m3)=607 million tonnes
Assuming total average grade = .5% copper equivalent, there is over 10 billion pounds of copper at Red Chris. At $3.00/lb, the in ground resource may be valued at $30 billion.
Should continued drilling expand the east deposit, and the drilling to the west, link up the main and east deposits, the tonnage and contained copper will increase. A new deep hole, although low grade, was drilled just west of the Main zone. This tantalizingly suggests there is yet another deposit located to the west. |
