Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (41899)	8/20/2009 6:54:59 PM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Coro Mining eyes end-2010 production decision at San Jorge - Argentina, Chile Published: Friday, August 14, 2009 10:20 (GMT -0400)More news from Chile By Laura Superneau / Business News Americas bnamericas.com Vancouver-based Coro Mining (TSX: COP) aims to carry out feasibility engineering studies during 2010 at its San Jorge copper project in Argentina's Mendoza province, with a view to making a production decision by the end of that year, according to president and CEO Alan Stephens. A local university is reviewing the project's EIS on behalf of the government and is expected to finish within the next few weeks, followed by sectorial and ministerial reviews, Stephens told BNamericas. The public consultation process has already begun, he said, adding that once the government decides to approve the EIS, it must be ratified by the provincial legislature. "If everything goes according to plan it should happen, with a bit of luck, before the end of the year," said Stephens, adding that local authorities recently said the EIS should be approved by early 2010 at the latest. The EIS is based on an April 2008 preliminary economic assessment that showed capex of US$277mn to build an open pit mine with production of 632,000t of copper and 620,000oz of gold over a 16-year life, using flotation-only processing. The assessment used base case prices of US$1.65/lb copper and US$600/oz gold. An earlier prefeasibility study on the project contemplated leaching and SX-EW processing, but was scrapped when Mendoza province banned the use of sulfuric acid and other chemicals. "We concluded that despite the fact that we have to take the oxides and stack them to one side, we still have a viable project and that's what we intend to develop," said Stephens, though "there is a financial impact to everybody, including the people of the province." POWER SUPPLY The preliminary economic assessment assumes that power supply for San Jorge would come via a transmission line to be built near the city of Mendoza to the project, with a splay going off to provide additional supply to the town of Uspallata. The line would be built by the power company, which would have to complete an EIS, Stephens said. Alternatives may include lines that could potentially be built by projects in neighboring provinces, particularly Xstrata's (LSE: XTA) El Pachón. "If that were to happen, that power line might go a bit closer to the project and may be beneficial to us in that we wouldn't have to do any engineering studies. Right now we're assuming that the power line will come from Mendoza." LLANCAHUE PROJECT Coro plans to carry out surface exploration over the coming weeks at the early stage Llancahue project in south-central Chile, with the goal of further drill testing the property starting in October or November, he said. The work aims to build on a 7-hole, 1,300m drill program completed earlier this year. Results included 100m grading 1.38% copper, 0.02% molybdenum and 3.8g/t silver from a depth of 10m.