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Building a successful mining company
British Columbia-based St. Eugene Mining Corporation Ltd. is seeing success in its exploration projects?one target at a time
A publicly traded, Vancouver based exploration and development company, St. Eugene has its feet firmly planted in the Kootenays. Six high-priority zinc/silver/lead drill targets were identified in 2006 at the Moyie Project 20 kilometres south of Cranbrook in a historic base metal mining basin that stretches from Idaho?s Coeur d?Alene silver/lead camp to B.C.?s 150-million- ton Sullivan zinc/silver/lead mine. Ore has been continuously produced in this area for over 120 years. From 1900 to 1911, the St. Eugene Mine produced 1.4 million tons of ore grading five per cent zinc, 15 per cent lead and seven ounces of silver per ton from three main ore shoots?Lakeshore, Moyie and St. Eugene. At today?s prices, St. Eugene ore is more valuable per ton than the Sullivan ore, the latter of which at 2006 prices would be valued at US$50 billion. In addition, new mining technology makes the Moyie Project attractive once again.
Leading the exploration team is Rolly Trenaman, a professional engineer with 50 years of mining industry experience including the role of manager of the Sullivan Mine. In addition, he has operated the Ptarmigan Gold Mine, Yellowknife and Silvana base metal mine, Sandon.
While the opportunity for locating a 150-million-ton deposit like the Sullivan Mine within the Kootenay geological environment cannot be dismissed, statistical analysis would conclude that the chances of finding a number of million-ton ore bodies are in the order of one hundred times better. And, the fact that these could feed into a centralized concentrator complex makes them attractive and valuable prospects, especially at today?s metal prices.
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Link: www.kootenaybiz.com/showcase/march07/building_mining_company.htm
Added on July 9th, 2007
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