First Quantum Minerals Provides Update on Kansanshi and Ente

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Laf1986

Messages: 4998

Inscription: Jeu 30 Juil 2009 19:54

Message Mar 4 Déc 2012 20:49

First Quantum Minerals Provides Update on Kansanshi and Ente

http://www.menafn.com/menafn/a77ccc0f-5 ... s?src=main

First Quantum Minerals Provides Update on Kansanshi and Enterprise Mineral Resource and Reserve Estimates

VANCOUVER, BRITISH COLUMBIA, Dec 4, 2012 (Menafn - Marketwire via COMTEX) --First Quantum Minerals Ltd. ("First Quantum" or the "Company") is pleased to provide the following update on the Kansanshi and Enterprise mineral resource and reserve estimates in Zambia.

Highlights:

Kansanshi, Zambia



--Measured and Indicated Mineral Resource upgraded to 744.3 million tonnes
("Mt") @ 0.86% Total Copper (TCu)
--This includes the maiden Indicated Mineral Resource of SE Dome of 54.0Mt
@ 0.9% TCu
--121% increase in the combined Measured and Indicated Mineral Resource
tonnes, 74% increase in contained copper,(i) under the same
classifications
--Proven and Probable Mineral Reserves upgraded to 725.6 Mt @ 0.82% TCu
--178% increase in Proved and Probable Reserve tonnes, 106% increase in
contained copper(i) (excluding stockpiles)
--Inferred Mineral Resource of 365.5 Mt @ 0.71% TCu provides opportunity
for further expansion through infill drilling
--Uplift in Mineral Resources and Reserves fully justifies the proposed
doubling of Kansanshi processing to 50 million tonnes per annum ("Mtpa")
--Mine life extended to 16 years - at the increased 50Mtpa throughput rate
(i) Compared to last published Resource/Reserve statement - see
March 2012 AIF



Enterprise, Zambia:



--Maiden Measured and Indicated Mineral Resource: 40.1Mt @ 1.07% Ni
--Maiden Mineral Reserve: 32.7 Mt @ 1.10% Ni
--Confirms potential for an operation producing on average 38,000 Ni per
annum with scope to increase to - 60,000t Ni per annum when economics
allow
--Further potential to expand Mineral Resource and Reserve on the
Enterprise South West Zone



Ahead of the imminent meeting of the First Quantum Board of Directors, these Mineral Resources and Reserves establish the basis for the second phase expansion at Kansanshi involving the sulphide treatment facilities, and the Sentinel plant enhancements required to process Enterprise ore.

KANSANSHI COPPER AND GOLD MINE

Mineral Resource Summary

The Kansanshi copper mine is located at Solwezi in the North-West Province of Zambia. This large-scale, open pit mine has been operated by the Company since initial construction was completed in 2004. Since this time, various upgrades have been undertaken and the mine currently has the capacity to treat approximately 25.0 Mtpa of ore through a series of process streams required to treat the oxide, mixed and sulphide ore types.

A major Mineral Resource delineation drill program has been undertaken over the past two years aimed at identifying the extent of this substantial mineralized system. In excess of 120,000 metres have been drilled across the Main and North West pits together with near mine "step out" drill lines. In addition, a new discovery at SE Dome only 2 km from Main pit has had its economic potential confirmed with a maiden Mineral Reserve now established.

The Resource modelling and estimation has been an on-going process during the year and has been undertaken by CSA Global (UK) in conjunction with the First Quantum geological team. An interim Mineral Resource estimate produced in July 2012 has subsequently been updated with additional drill hole information up until the end of October 2012. This update was finalized in November 2012 and is shown in Table 1.0. The SE Dome Mineral Resource was also developed by CSA Global (UK) and was completed in August 2012 and this is also shown in Table 1.0.

The Mineral Resource for the combined Main and North West regions includes a total of 690.0 Mt @ 0.86% TCu defined by a cut-off grade of 0.3% TCu in the Measured and Indicated classification plus an additional 344.5 Mt @ 0.7% TCu in the Inferred classification.

The Mineral Resource for the SE Dome includes 54.0 Mt @ 0.9% TCu defined at a cut-off grade of 0.3% TCu in the Indicated classification plus an additional 20.8 Mt @ 0.91% TCu in the Inferred classification.



Table 1.0 Kansanshi Main, North West and SE Dome combined Mineral Resource
Estimates

--------------------------------------------------------------------------
KANSANSHI MINERAL RESOURCE AT 30th NOVEMBER 2012
(ABOVE 0.3% TCu CUT-OFF)
--------------------------------------------------------------------------
PitClassMtonnesTCuASCuTCu metal
(%)(%)(kt)
--------------------------------------------------------------------------
MAIN &Measured88.91.100.48974
NWIndicated601.10.830.194,967
Total MI690.00.860.235,942
Inferred344.40.700.042,401
--------------------------------------------------------------------------
SE DOMEMeasured----
Indicated54.20.900.04486
Total MI54.20.900.04486
Inferred20.80.910.03188
--------------------------------------------------------------------------
TOTALMeasured88.91.100.48974
Indicated655.40.830.185,453
Total MI744.30.860.216,427
Inferred365.20.710.042,589
--------------------------------------------------------------------------



The updated Measured and Indicated Mineral Resource for Main, North West and SE Dome regions represents a substantial increase when compared with values published in the March 2012 AIF. Initial comparative estimates show that the Mineral Resource tonnage has increased by some 121%, and total contained copper metal by 74%. The Inferred Mineral Resources has increased by greater amounts and these largely adjacent regions will now be the focus of the targeted in-fill drilling program for 2013.

The SE Dome provides for future flexibility in terms of the opening up of mining regions in predominantly sulphide mineralization; again drilling will continue in 2013.

The majority of the Mineral Resource increase is associated with sulphide mineralization which is significant when determining the optimal development strategies for Kansanshi; and it is now feasible for the expanded life of mine to be determined which adds great confidence to the proposed processing expansion projects.

Mineral Reserve Summary

The Mineral Reserves are defined using the July 2012 Mineral Resource model that was prepared by CSA Global (UK) as part on the on-going resource development strategy during the year. The Mineral Reserves were developed using current economic and physical parameters using the Whittle optimization process; plus utilizing a copper price of 3.00/lb and a gold price of 1200/oz.

The final mine designs for the combined Main and North West Pit and SE Dome pit was undertaken by Cameron Mining Consulting Ltd. Given that the Mineral Resource has now been updated in November 2012, work on a further Mineral Reserve update will commence immediately.

The Mineral Reserve for the combined Main, North West and SE Dome pits are defined at 725.5 Mt @ 0.82% TCu and 0.15g/t Au in the Proved and Probable classification as shown in Table 2.0.



Table 2.0 Mineral Reserve for the combined Main, North West and SE Dome

--------------------------------------------------------------------------
MINERAL RESERVE AT 30thJUNE 2012
(AT 3.00/lb Cu and 1200/ounce Au)
--------------------------------------------------------------------------
Leach Ore
--------------------------------------------------------------------------
TCuAu
PitClassMtonnesTCuASCuAumetalmetal
(%)(%)(g/t)(kt)(t)
--------------------------------------------------------------------------
MAIN &Proved31.31.841.180.225747
NWProbable59.51.751.010.201,03912
Total PP90.81.781.070.211,61419
--------------------------------------------------------------------------
SE DOMEProved------
Probable0.50.940.430.0740
Total PP0.50.940.430.0740
--------------------------------------------------------------------------
TOTALProved31.31.841.180.225747
Probable60.01.741.000.201,04412
Total PP91.31.771.060.211,61819
--------------------------------------------------------------------------
Mixed Ore
--------------------------------------------------------------------------
TCuAu
PitClassMtonnesTCuAumetalmetal
(%)(g/t)(kt)(t)
--------------------------------------------------------------------------
MAIN &Proved29.10.750.162195
NWProbable122.70.890.151,08718
Total PP151.80.860.151,30623
--------------------------------------------------------------------------
SE DOMEProved-----
Probable9.71.300.221262
Total PP9.71.300.221262
--------------------------------------------------------------------------
TOTALProved29.10.750.162195
Probable132.50.920.151,21420
Total PP161.60.890.151,43325
--------------------------------------------------------------------------
Sulphide Ore
--------------------------------------------------------------------------
TCuAu
PitClassMtonnesTCuAumetalmetal
(%)(g/t)(kt)(t)
--------------------------------------------------------------------------
MAIN &Proved41.70.590.142487
NWProbable394.10.600.132,36052
Total PP435.80.600.13260858
--------------------------------------------------------------------------
SE DOMEProved-----
Probable36.80.690.122554
Total PP36.80.690.122554
--------------------------------------------------------------------------
TOTALProved41.70.590.142486
Probable430.90.610.132,61556
Total PP472.70.610.13286362
--------------------------------------------------------------------------
Total Ore
--------------------------------------------------------------------------
TCuAu
PitClassMtonnesTCuAumetalmetal
(%)(g/t)(kt)(t)
--------------------------------------------------------------------------
MAIN &Proved102.11.020.171,04117
NWProbable576.40.780.144,48682
Total PP678.50.810.155,527100
--------------------------------------------------------------------------
SE DOMEProved-----
Probable47.00.820.143867
Total PP47.00.820.143867
--------------------------------------------------------------------------
TOTALProved102.11.020.171,04117
Probable623.40.780.144,87289
Total PP725.50.820.155913106
--------------------------------------------------------------------------
Marginal COG - 0.25% Cu, Reserves include 5% dilution at zero grade and 95%
mining recovery. Strip Ratio 1: 2.4



The uplift in the total Kansanshi Mineral Reserve is substantial when compared with previously published Mineral Reserve statements; tonnages increases in the order of 178% and contained copper by over 106%, excluding stockpile inventories. These expanded reserves can now form a solid foundation on which the expansion of treatment facilities at Kansanshi can now be finalized.

Gold production at Kansanshi has consistently been greater than the values identified in the Mineral Resource; however the lower level of geological confidence associated with the gold should be acknowledged.

ENTERPRISE NICKEL PROSPECT

Resource Estimate Summary

Enterprise is part of the Trident project which includes the Sentinel copper deposit that is currently under development. The project is located approximately 150 kilometres from Solwezi in north-west Zambia. In April 2011, large-scale mining licenses for the development of the Trident project were received from the Government of the Republic of Zambia. The licenses give First Quantum the exclusive rights to carry out mining operations on the full area of interest at Trident for a period of 25 years.

An intensive resource definition drill program has been completed over the Enterprise prospect during 2012. Recent drilling has been focused on a nearby satellite zone known as Enterprise Southwest. Some 359 diamond core holes for over 116,000 metres have been drilled as part of this program. The Enterprise Main Zone has been defined as series of relatively shallow dipping mineralized bodies covering an area of 1000 metres by 500 metres and ranging in thickness from a few metres to over 80 metres.

Resource modeling and estimation has recently been completed by CSA Global (UK). The Mineral Resource estimate for Enterprise Main Zone and Southwest Zone includes a total of 40.1Mt @ 1.07% Ni in Measured and Indicated classification plus an additional 7.0 Mt @ 0.7% Ni in Inferred classification, as shown in Table 3.0.



Table 3.0 Mineral Resources for Enterprise (Main Zone plus South West Zone)

--------------------------------------------------------------------------
Trident - Enterprise Nickel Project (Main and SW)
Mineral Resource Estimate as at 28th November 2012
Cut-off grade of 0.15% Ni
--------------------------------------------------------------------------
TonnageGradeContained Ni
--------------------------------------------
(million tonnes)(Ni %)(kilo tonnes)
--------------------------------------------------------------------------
Main Zone Measured Resource2.71.5141
--------------------------------------------------------------------------
Main Zone Indicated Resource34.31.08372
--------------------------------------------------------------------------
SW Zone Indicated Resource3.10.6018
--------------------------------------------------------------------------
Total Measured & Indicated
Resource40.11.07431
--------------------------------------------------------------------------
Main Zone Inferred Resource2.50.9223
--------------------------------------------------------------------------
SW Zone Inferred Resource4.60.5827
--------------------------------------------------------------------------
Total Inferred Resource7.10.7050
--------------------------------------------------------------------------



Drilling is presently in progress over the Enterprise South West Zone with the objective of enlarging the overall Measured and Indicated Mineral Resource.

Initial metallurgical test work on samples representing a range of mineralogy, with head grades between 0.6 and 6.6% Ni, gave over 90% Ni recoveries to rougher concentrates at grades of between 14% and 17% Ni. Some nine new metallurgical core drill holes have recently been completed on the Main Zone recovering material for further metallurgical testing.

Reserve Estimate Summary

Preliminary mining studies to date are restricted to the Enterprise Main Zone and have defined a total diluted Mineral Reserve of 32.7Mt at 1.10% Ni. This assessment utilizing Whittle optimization techniques has been undertaken by DumpSolver Pty Ltd Perth WA, and has considered a Ni price of 7.50/lb The Mineral Reserves are shown in Table 4.0.



Table 4.0 Mineral Reserves for Enterprise (Main Zone only)

--------------------------------------------------------------------------
Trident - Enterprise Nickel Project (Main Zone only)
Reserve Estimate November 2012
--------------------------------------------------------------------------
TonnageGradeContained Ni
--------------------------------------------
(million tonnes)(Ni %)(kilo tonnes)
--------------------------------------------------------------------------
Proven2.7Mt1.44%39.0
--------------------------------------------------------------------------
Total Probable30.0Mt1.08%324.0
--------------------------------------------------------------------------
Total Proven & Probable32.7Mt1.10%363.0
--------------------------------------------------------------------------
Marginal COG - 0.1% Ni, Reserves include 5% dilution at zero grade and 95%
mining recovery. Strip Ratio 1: 9.27



A preliminary evaluation has identified potential to develop an operation with an annual throughput rate of 4.0 Mtpa and an average Ni annual production rate of 38,000 tonnes. However head grades may be varied to reflect changes in the Ni price cycle hence at certain times Ni production could peak at 60,000 tonnes.

As Enterprise is located just 12 kilometres north of the Sentinel project, it is expected that its development cost will benefit by sharing infrastructure, such as water supply, tailings storage facility, housing and administration, which is currently being developed for the Sentinel project. These unique and significant synergies are expected to result in Enterprise being a very low cost operation.

Qualified Persons

The updated Mineral Resource Estimate for Kansanshi has been compiled by independent consultant M. Titley of CSA Global (UK). The Mineral Resource Estimate for Enterprise has been compiled by independent consultant G. White of CSA Global (UK). The Mineral Reserves at Kansanshi have been compiled by independent consultant A. Cameron of Cameron Mining Consulting Ltd. The Reserves at Enterprise has been compiled by independent consultant N. Journet of DumpSolver Pty Ltd. All independent consultants mentioned are Qualified Persons for the purposes of National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101").

The mineral resource and reserve estimates have been made in accordance with the standards specified in NI 43-101.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

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mbury

Messages: 2310

Inscription: Sam 19 Sep 2009 09:49

Localisation: Nord de l'Alsace, dans le Parc Régional des Vosges du nord

Message Mar 4 Déc 2012 23:27

Re: First Quantum Minerals Provides Update on Kansanshi and

Bien intéressant, un peu comme la présentation de KCM....
Curieuse coincidence ou... projets identiques pour les 2 entreprises?? L'avenir nous le dira...
Bonne soirée MB
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cvarvois

Messages: 1459

Inscription: Mar 1 Sep 2009 16:09

Localisation: French Guiana

Message Mer 5 Déc 2012 15:21

Re: First Quantum Minerals Provides Update on Kansanshi and

First Quantum increases reserves at Kansanshi

Publishing Date
05 Dec 2012 10:24am GMT
Author : Mining Journal

A 178% increase in reserves at First Quantum Minerals Ltd’s Kansanshi copper mine in Zambia could lead to a doubling of processing capacity and an extended mine life, said the company.

Proven and probable reserves have reached 725.6 Mt at 0.82% Cu for 5.9Mt of contained copper, according to a new independent study, while the measured and indicated resources now stand at 744.3Mt at 0.86% Cu – up 121% since the last resource statement.

First Quantum said the results justify the proposed doubling of copper processing at Kansanshi to 50Mt/y and an extended 16 year mine life at this throughput rate.

Kansanshi, located at Solwezi in the North-West province of Zambia is an open-pit mine that began operations in 2004. The mine currently has the capacity to treat around 25Mt/y of ore.

The company also announced a maiden resource and reserve statement for its Enterprise nickel prospect in Zambia, which is part of its Trident project.

Measured and indicated resources at Enterprise were 40.1Mt at 1.07% Ni, while reserves were estimated at 32.7Mt at 1.10% Ni, an independent study showed.

This confirms potential for an operation producing an average of 38,000t/y of nickel and scope to increase to around 60,000t/y of nickel when economics allow, First Quantum said.

Source : http://www.mining-journal.com/productio ... -kansanshi
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phili675

Avatar de l’utilisateur

Messages: 1953

Inscription: Mar 8 Sep 2009 08:03

Message Mer 5 Déc 2012 15:33

Re: First Quantum Minerals Provides Update on Kansanshi and

ZCCM-IH has two strategic choices to make with regard to its investment in KMP.
The first choice is that of maintaining its 20% investment in KMP. The second
strategic choice is to transfer ownership from the KMP level to the FQM level.
These two options will be evaluated during 2012 and a decision will be made
then.


J'espère qu'ils ne vont pas se laisser rouler dans la farine, et sauront faire les bons choix : bonne question lors de l'AG, pour connaitre la décision prise, et les conditions obtenues

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