Tungsten-Molybdenum At Fire Tower Zone
In the early 1980s, Billiton Exploration Canada Ltd. invested approximately $150 million for the construction of a tungsten mine and mill at Mount Pleasant’s Fire Tower Zone.
The facility was active from 1983 to 1985, milling 990,200 tonnes of tungsten ore at a grade of 0.35%. Challenging economic conditions and a downturn in the price of tungsten led to the mine's closure in 1985.
Surface facilities from the mine (including ore storage areas, conveyor galleries, warehouse space and office space) remain intact on the property.
The Fire Tower Zone contains a National Instrument 43-101-compliant resource of 13,489,000 tonnes in the "indicated" category at 0.33% tungsten and 0.21% molybdenum, as well as 841,700 tonnes in the "inferred" category at 0.26% tungsten and 0.20% molybdenum.
A scoping study of the Fire Tower Zone was completed and prepared by Aker Metals, a division of Aker Solutions Canada Inc. Results of the scoping study indicate that the Fire Tower Zone is financially robust and the operation is projected to generate about C$1.1 billion in revenue over a 13 year life of the mine.
Read more about this topic: Adex Mining
Famous quotes containing the words fire, tower and/or zone:
“This Indian camp was a slight, patched-up affair, which had stood there several weeks, built shed-fashion, open to the fire on the west.... Altogether it was about as savage a sight as was ever witnessed, and I was carried back at once three hundred years.”
—Henry David Thoreau (1817–1862)
“The tower nearest the water gets the moonlight first.”
—Chinese proverb.
“Light is meaningful only in relation to darkness, and truth presupposes error. It is these mingled opposites which people our life, which make it pungent, intoxicating. We only exist in terms of this conflict, in the zone where black and white clash.”
—Louis Aragon (1897–1982)