Casino
PROPERTY SNAPSHOT
PROJECT UPDATES
2008
- PRE-FEASIBILITY STUDY (June 24, 2008)
M3 completed pre-feasibility study on Casino. The report projects 30 year mine life with 20.4% pre-tax IRR, $7.5 billion undiscounted NPV and 3.8 year payback period.
2007
- PERMITTING (Q4 2007)
The Company retained Gartner Lee to lead the collection of information for environmental permitting. To date the work has comprised mostly reviewing historical data and planning future field work.
- PRE-FEASIBILITY STUDY (September, 2007)
Western Copper engaged M3 to commence work on a pre-feasibility study. Western Copper anticipates that the pre-feasibility study will be completed by the end of Q2 2008 and it will cost approximate $1 million. Approximately 2 tonnes of samples were shipped from site to laboratories for grinding, flotation and leaching metallurgical test work to support the pre-feasibility study. Sub-consultants started to work on power supply and transportation studies to assess all development options in those two areas.
- OWNERSHIP (August, 2007)
Western Copper acquired 100% interest in the property in exchange for a $1 million cash payment to Great Basin Gold Ltd.
- EXPLORATION (May, 2007)
188 additional claims were staked by the Company to provide a buffer area around the core claims in anticipation of future development and to cover prospective ground adjacent to the porphyry.
RESOURCE & RESERVE
PROJECT ECONOMICS
PROPERTY HISTORY
Porphyry copper mineralization was first recognized at Casino in 1967. From 1967-1990 various companies drilled 57 core holes (12,294 m) and 33 reverse circulation holes (5,188 m).
In 1991 Archer, Cathro acquired the property and completed a 21-hole HQ diamond-drilling program.
In 1992 Pacific Sentinel Gold Corp. acquired the property and commenced a major exploration program (236 diamond drill holes totalling 73,084 m) that culminated in 1995 in a project scoping study.
The scoping study envisioned a large-scale open pit mine, conventional flotation concentrator that would produce a copper-gold concentrate for sale to Pacific Rim smelters
In 2003 Lumina Copper Corp. acquired the property from Copper Resources Corp.
The option on the Casino property was acquired as a result of the plan of arrangement between Western Copper and Lumina in November 2006.
LOCATION
The Casino property is located about 300 km northwest of Whitehorse, in the Yukon Territory.
Casino has no all season road access. During the short summer, (mid June through September) heavy loads can be barged up the Yukon River to a 19 km access road that connects the river to the camp. During the winter, two access routes are available: a shorter, but steeply undulating route for 194 km from Carmacks and a longer, but gentle river grade route for 224 km from Burwash Landing on the Alaska Highway.
The property has a well-equipped year around airstrip that can handle large aircraft.
The site must be self sufficient in providing water, sewer and electric power. Year around water sources are available from permafrost free wells and electric power must be provided from diesel generation.
PROJECT LOCATION ON A PROVINCIAL SCALE
Source: Technical Report, February 2004