Darnley Bay Resources (DBL.V) has announced it has engaged JDS to complete a Preliminary Economic Assessment on its Pine Point zinc project in Canada’s Northwest Territories. The PEA will be focused on an initial 10 open pits, with an additional 8 to 10 targets to be incorporated in the mine plan. As you might remember from our previous update, Pine Point is a historic zinc mine which has been operated by Cominco for several decades.
The property consists of almost 50 open pits and two underground mines along a 35 kilometer trend, as you can see on the image above. Historic data suggests Cominco mined 64 million tonnes of ore at an average grade of 7.2% zinc and 4% lead (for in excess of 10 billion (gross) pounds of zinc). In excess of 1 million meters has been drilled on the property, so Darnley Bay knows where it will have to look to expand its resources.
The company has also appointed Stanley Clemmer as its Chief Geologist (subject to TSX Venture approval) and with a history at Cominco and Falconbridge and his position as Project Manager for Sabina Gold & Silver’s (SBB.TO) Hackett River project, Darnley Bay seems to have attracted a knowledgeable person! The exploration budget has been set at C$5M for 2017, and it will be interesting to see what DBL will be able to accomplish with these funds!
Go to Darnley Bay’s website
The author has a long position in Darnley Bay Resources. Please read the disclaimer
