Friday, August 08, 2014

HudBay plans new drilling for Rosemont copper deposit

Officials of HudBay Minerals, new owner of Augusta Resources, which is the parent company to Rosemont Copper, were introduced today at the Arizona Mining Alliance monthly luncheon meeting in Tucson.    Over 200 attendees from the regional mining and business communities were present.

Rosemont Vice President Lance Newman announced they will be drilling 85,000 feet of new core holes, all on private land they own within the current open pit boundaries at the proposed mine site. It is in conjunction with an extensive geological and technical review of Rosemont's work to date.     Lance described how HudBay staff are immersed in an in-depth study of many years of data, reports, and studies generated for the project as they get up to speed on all the details of the operation.  He emphasized that HudBay is committed to development of the Rosemont mine as one of their centerpiece operations.   In my interpretation, the new drilling is intended to try to convert inferred resources and reserves to more demonstrated reserve category.    [Right, geologic cross section through proposed pit. Credit, Rosemont Copper]

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