{"id":1195757,"date":"2020-07-14T13:52:41","date_gmt":"2020-07-14T18:52:41","guid":{"rendered":"https:\/\/www.mining.com\/?p=1029725"},"modified":"2020-07-14T13:52:41","modified_gmt":"2020-07-14T18:52:41","slug":"western-copper-and-gold-updates-resource-for-casino","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1195757","title":{"rendered":"Western Copper and Gold updates resource for Casino"},"content":{"rendered":"

In its first estimate since 2010,\u00a0Western Copper and Gold\u00a0(TSX: WRN; NYSE-AM: WRN) has updated the resource for its 100%-owned Casino project in the Yukon<\/a> with more drill results, confirming that it is one of the largest copper-gold deposits in the world.<\/p>\n

The new resource includes results from the 2019 drill program and drilling performed from 2010 through 2012 that was unavailable when the company put together its 2010 model; it also incorporates an updated geologic model. The resource remains open at depth.<\/p>\n

Casino now has total measured and indicated resources of 2.4 billion tonnes grading 0.14% copper, 0.19 gram gold per tonne, 1.5 grams silver per tonne for 7.6 billion lb. copper, 14.5 million oz. gold and 113.5 million oz. silver. Inferred resources add 1.46 billion tonnes grading 0.10% copper, 0.14 gram gold, 1.2 grams silver for 3.26 billion lb. copper, 6.6 million oz. gold and 55.2 million oz. silver.<\/p>\n

\n
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The estimated C$2.45 billion capex for Casino is \u201ccomparable to emerging greenfield and brownfield projects.\u201d<\/p>\n<\/blockquote>\n<\/figure>\n

In addition, while the heap leach operation won\u2019t recover moly so it isn\u2019t included in the total resource numbers, it will be recovered in the milling operation at a grade of 0.017% moly in the M&I category and 0.010% in the inferred.<\/p>\n

CEO Paul West-Sells said the new resource numbers will be incorporated into an updated feasibility study but did not specify a date. He also noted that the company expects that, \u201cin addition to the significantly higher number of tonnes, that the strip ratio should decrease significantly due to the conversion of inferred material to measured and indicated in the pit.\u201d<\/p>\n

In a July investor presentation, Western Copper and Gold noted that the estimated C$2.45 billion capex for Casino is \u201ccomparable to emerging greenfield and brownfield projects.\u201d<\/p>\n

Shareholders in the company include management and the board (12%); private high-net worth individuals (48%); and institutional investors (10%).<\/p>\n

Over the last year the company has traded in a range of 44\u00a2 and C$1.90 per share and at presstime in Toronto was trading at C$1.57 per share, up 3.1%. The company has about 115 million common shares outstanding for a C$180 million market cap.<\/p>\n

(This article first appeared in <\/em>The Northern Miner<\/em><\/a> on July 14)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Results confirm that project in the Yukon is one of the largest copper-gold deposits in the world.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1195757"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1195757"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1195757\/revisions"}],"predecessor-version":[{"id":1195788,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1195757\/revisions\/1195788"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1195757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1195757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1195757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}