DOCSLIB.ORG

NI 43-101 Technical Report Preliminary Economic Assessment the Revenue Mine Sneffels, Colorado

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
NI 43-101 Technical Report Preliminary Economic Assessment the Revenue Mine Sneffels, Colorado NI 43-101 Technical Report Preliminary Economic Assessment The Revenue Mine Sneffels, Colorado Effective Date: April 18, 2014 Report Date: July 23, 2014 Report Prepared for Fortune Minerals Limited 148 Fullarton Street, Suite 1600 London, Ontario N6A 5P3 Canada . Report Prepared by SRK Consulting (U.S.), Inc. 7175 West Jefferson Avenue, Suite 3000 Lakewood, CO 80235 SRK Project Number 457700.030 Signed by Qualified Persons: Dorinda Bair, BSc Geology, CPG, Principal Consultant (Geology) James M. Beck, Bsc Mining Engineering, PE, SRK Associate Consultant (Environmental) Mark K Jorgensen, BSc Chemical Engineering, SRK Associate Consultant (Metallurgy) Joanna Poeck, BEng Mining, Senior Consultant (Mining Engineer) Reviewed by: Bret Swanson, BEng Mining, Principal Consultant (Mining Engineer) SRK Consulting (U.S.), Inc. Preliminary Economic Assessment – The Revenue Mine Page ii Table of Contents Table of Contents .............................................................................................................. ii 1 Summary ....................................................................................................................... 1 1.1 Property Description............................................................................................................................ 1 1.2 Ownership ........................................................................................................................................... 1 1.3 Geology and Mineralization ................................................................................................................ 2 1.4 Status of Exploration, Development and Operations .......................................................................... 2 1.5 Mineral Resource Estimate ................................................................................................................. 3 1.6 Preliminary Economic Assessment Results ....................................................................................... 4 1.6.1 Underground Mining ................................................................................................................ 4 1.6.2 Processing and Metallurgy ...................................................................................................... 5 1.6.3 Geotechnical and Tailings ....................................................................................................... 6 1.6.4 Infrastructure ........................................................................................................................... 6 1.6.5 Environmental and Permitting ................................................................................................. 6 1.6.6 Capital Costs ........................................................................................................................... 7 1.6.7 Operating Costs ...................................................................................................................... 7 1.6.8 Indicative Economic Results ................................................................................................... 8 1.7 Conclusions ......................................................................................................................................... 8 2 Introduction .................................................................................................................. 9 2.1 Terms of Reference and Purpose of the Report ................................................................................. 9 2.2 Qualifications of Consultants (SRK) .................................................................................................... 9 2.3 Details of Inspection .......................................................................................................................... 10 2.4 Sources of Information ...................................................................................................................... 11 2.5 Effective Date .................................................................................................................................... 11 2.6 Units of Measure ............................................................................................................................... 11 3 Reliance on Other Experts ........................................................................................ 12 4 Property Description, Location and Access ............................................................ 13 4.1 Property Location .............................................................................................................................. 13 4.2 Mineral Titles ..................................................................................................................................... 14 4.2.1 Nature and Extent of Issuer’s Interest ................................................................................... 17 4.3 Royalties, Agreements and Encumbrances ...................................................................................... 17 4.4 Environmental Liabilities and Permitting ........................................................................................... 18 4.4.1 Environmental Liabilities........................................................................................................ 18 4.4.2 Required Permits and Status ................................................................................................ 18 4.5 Other Significant Factors and Risks .................................................................................................. 19 5 Accessibility, Climate, Local Resources, Infrastructure and Physiography ........ 20 DB/MLM FortuneMinerals_Revenue_PEA_457700.030_014_SH July 23, 2014 SRK Consulting (U.S.), Inc. Preliminary Economic Assessment – The Revenue Mine Page iii 5.1 Topography, Elevation and Vegetation ............................................................................................. 20 5.2 Accessibility and Transportation to the Property .............................................................................. 21 5.3 Climate and Length of Operating Season ......................................................................................... 21 5.4 Sufficiency of Surface Rights ............................................................................................................ 22 5.5 Infrastructure Availability and Sources.............................................................................................. 22 5.5.1 Power .................................................................................................................................... 22 5.5.2 Water ..................................................................................................................................... 22 5.5.3 Mining Personnel ................................................................................................................... 23 5.5.4 Tailings Storage Areas .......................................................................................................... 23 5.5.5 Waste Disposal Areas ........................................................................................................... 23 5.5.6 Processing Plant Site ............................................................................................................ 23 6 History ......................................................................................................................... 24 6.1 Historical Production ......................................................................................................................... 29 6.2 Historical Resource Estimate ............................................................................................................ 29 7 Geological Setting and Mineralization ..................................................................... 31 7.1 Regional Geologic Setting ................................................................................................................ 31 7.1.1 Revenue Area Geologic Setting ............................................................................................ 31 7.2 Local Geology ................................................................................................................................... 32 7.2.1 Stratigraphy ........................................................................................................................... 34 7.2.2 Dikes ...................................................................................................................................... 36 7.2.3 Structure ................................................................................................................................ 37 7.2.4 Mineralization ........................................................................................................................ 39 7.2.5 Alteration ............................................................................................................................... 39 7.2.6 Mineralogy of the Mineralization in the Virginius, Terrible and Yellow Rose Veins .............. 40 7.2.7 Project Vein Systems ............................................................................................................ 41 7.2.8 Other Important Veins within the Project Area ...................................................................... 44 8 Deposit Type .............................................................................................................
Load more

Recommended publications
  • High Country Climbs Peaks
    HighHig Countryh Country Cl iClimbsmbs The San Juan Mountains surrounding Telluride are among Colorado’s most beautiful and historic peaks. This chapter records some of the Telluride region’s most classic alpine rock routes. Warning: These mountain routes are serious undertakings that should only be attempted by skilled, experienced climbs. Numerous hazards—loose rock, severe lightning storms, hard snow and ice and high altitudes—will most likely be encountered. Come Prepared: An ice axe and crampons are almost always necessary for the approach, climb or descent from these mountains. Afternoon storms are very common in the summertime, dress accordingly. Loose rock is everpre- sent, wearing a helmet should be considered. Rating Mountain Routes: Most routes in this section are rated based on the traditional Sierra Club system. Class 1 Hiking on a trail or easy cross-country Class 2 Easy scrambling using handholds Class 3 More difficult and exposed scrambling, a fall could be serious Class 4 Very exposed scrambling, a rope may be used for belaying or short-roping, a fall would be serious Class 5 Difficult rockclimbing where a rope and protection are used Route Descriptions: The routes recorded here are mostly long scrambles with countless variations possible. Detailed route descriptions are not pro- vided; good routefinding skills are therefore required. Routes described are for early to mid-summer conditions. The Climbing Season: Climbers visit these mountains all year, but the main climbing season runs from June through September. Late spring through early summer is the best time, but mid-summer is the most popular. Less snow and more loose rock can be expected in late summer.
    [Show full text]
  • Eagle's View of San Juan Mountains
    Eagle’s View of San Juan Mountains Aerial Photographs with Mountain Descriptions of the most attractive places of Colorado’s San Juan Mountains Wojtek Rychlik Ⓒ 2014 Wojtek Rychlik, Pikes Peak Photo Published by Mother's House Publishing 6180 Lehman, Suite 104 Colorado Springs CO 80918 719-266-0437 / 800-266-0999 [email protected] www.mothershousepublishing.com ISBN 978-1-61888-085-7 All rights reserved. No part of this book may be reproduced without permission in writing from the copyright owner. Printed by Mother’s House Publishing, Colorado Springs, CO, U.S.A. Wojtek Rychlik www.PikesPeakPhoto.com Title page photo: Lizard Head and Sunshine Mountain southwest of Telluride. Front cover photo: Mount Sneffels and Yankee Boy Basin viewed from west. Acknowledgement 1. Aerial photography was made possible thanks to the courtesy of Jack Wojdyla, owner and pilot of Cessna 182S airplane. Table of Contents 1. Introduction 2 2. Section NE: The Northeast, La Garita Mountains and Mountains East of Hwy 149 5 San Luis Peak 13 3. Section N: North San Juan Mountains; Northeast of Silverton & West of Lake City 21 Uncompahgre & Wetterhorn Peaks 24 Redcloud & Sunshine Peaks 35 Handies Peak 41 4. Section NW: The Northwest, Mount Sneffels and Lizard Head Wildernesses 59 Mount Sneffels 69 Wilson & El Diente Peaks, Mount Wilson 75 5. Section SW: The Southwest, Mountains West of Animas River and South of Ophir 93 6. Section S: South San Juan Mountains, between Animas and Piedra Rivers 108 Mount Eolus & North Eolus 126 Windom, Sunlight Peaks & Sunlight Spire 137 7. Section SE: The Southeast, Mountains East of Trout Creek and South of Rio Grande 165 9.
    [Show full text]
  • Ouray-Silverton San Juan Mountains Mineral Symposium
    Ouray-Silverton San Juan Mountains Mineral Symposium Ouray-Silverton San Juan Mountains Mineral Symposium Program, abstracts and field guides September 5 - 7, 2014 Ouray, Colorado Sponsored by Colorado School of Mines Geology Museum, Friends of the Colorado School of Mines Geology Museum, 1 and the Colorado Chapter of the Friends of Mineralogy. Ouray-Silverton San Juan Mountains Mineral Symposium The authors of the abstracts and field trip guides and the owners of the pictures that have been used in this proceedings volume have retained their copyrights to their works. These copyright holders have provided individually to each of the three sponsoring organizations, the Colorado School of Mines Geology Museum, the Friends of the Colorado School of Mines Geology Museum, and the Colorado Chapter of the Friends of Mineralogy, a non-exclusive license of unlimited duration to reproduce, sell or distribute within the United States, physical copies of this entire volume, and not parts of this volume, at their organization’s discretion. These rights can not be sold or transferred to any other organization or individual. Reproduction and distribution by digital copy is prohibited except by the copyright owners. Managing editor: Mark Ivan Jacobson Abstract editing: Mike L. Smith and Mark Ivan Jacobson Field trip editing: Robert Larson, Jeff Self, Donna Ware, and Mark Ivan Jacobson Front cover photograph: Hoist house of the Yankee Girl mine, Red Mountain District. Photographed by Jeff Self on November 1, 2012. Copyright © by Jeff Self. Back cover photograph: Zunyite from the type locality, Zuni mine, San Juan County, Colorado. Colorado School of Mines Geology Museum specimen.
    [Show full text]
  • Ouray, Colorado: Sense of Place in the Modern Wild West
    Ouray, Colorado: Sense of Place in the Modern Wild West By Stephanie R. Meador Submitted to the graduate degree program in Geography and the Graduate Faculty of the University of Kansas in partial fulfillment of the requirements for the degree of Master of Arts. Chairperson Dr. James R. Shortridge Dr. J. Christopher Brown Dr. Terry Slocum Date Defended: December 2, 2010 ii The Thesis Committee for Stephanie R. Meador certifies that this is the approved version of the following thesis: Ouray, Colorado: Sense of Place in the Modern Wild West Chairperson Dr. James R. Shortridge Date approved: December 2, 2010 iii Ouray, Colorado: Sense of Place in the Modern Wild West Abstract Stephanie R. Meador Department of Geography, 2010 University of Kansas The small town of Ouray, nestled at 8,000 feet within the rugged San Juan volcanic mountain range in southwestern Colorado, is a memorable place for many individuals. A mining community turned tourist destination, Ouray is a place of economic transitions and identity shifts. This research outlines three different social groups of Ouray— lifelong local residents, those who have recently moved to Ouray, and part-time summer resident workers— and discusses how they interact on a daily basis. Through a series of formal interviews and personal observations, it discusses the meaning Ouray holds for individuals and explores the concept of place attachment. iv Acknowledgments I want to thank my friends in Ouray for sharing their thoughts and their town with me. Without their willingness to open up to me, this thesis would have lost all nuance. I feel so privileged to know the wonderfully unique characters described in this text.
    [Show full text]
  • D-1 GMUG Community Wilderness Proposal 06-25-2019
    From: Northern San Juan Broadband [mailto:[email protected]] Sent: Wednesday, June 19, 2019 6:01 AM To: Hannah Hollenbeck Subject: GMUG Community Wilderness proposal documents for BOCC packet Hello Hannah, Attached please find the narratives and maps for the BOCC June 25 meeting. Commissioners have already received these documents for an April 24, 2018 meeting that I sent to you on April 18, 2018. There have been a few minor boundary changes to the Hayden parcel since that time to accommodate climbing routes. Commissioners can also find the entire proposal (for the whole GMUG Forest) at gmugrevision.com. Thanks! See you next Tuesday. Robyn Cascade, Leader Northern San Juan Broadband/Ridgway, CO Great Old Broads for Wilderness greatoldbroads.org I https://www.facebook.com/greatoldbroads National Office Phone: 970-385-9577 Pronouns: she, her, hers Great Old Broads for Wilderness is a national organization, led by women, that engages and inspires the activism of elders to preserve and protect wilderness and wild lands. Broads gives voice to the millions of older Americans who want to protect their public lands as Wilderness for this and future generations. We bring experience, commitment, and humor to the movement to protect the last wild places on Earth. Abrams Mountain Scenic Special Interest Area Proposed Designated Area Uncompahgre National Forest 3,000 acres Ouray Ranger District General Description At 12,801 feet, Abrams Mountain (aka Mount Abrams), is an iconic peak that rises steeply and directly above the city of Ouray and can be viewed for many miles while driving from Montrose toward Ouray.
    [Show full text]
  • Abrams Mountain Scenic Special Interest Area
    Abrams Mountain Scenic Special Interest Area Proposed Designated Area Uncompahgre National Forest 3,000 acres Ouray Ranger District General Description At 12,801 feet, Abrams Mountain (aka Mount Abrams), is an iconic peak that rises steeply and directly above the city of Ouray and can be viewed for many miles while driving from Montrose toward Ouray. It is the centerpiece landscape feature for the City of Ouray and surrounding area. Gray Copper Falls and several other falls are outstanding scenic features just west of Brown Mountain. There are several historic mines on the slopes of Abrams Mountain and Brown Mountain. Elk, deer and bighorn sheep use the area. The area is not identified as a Colorado Roadless Area. Scenic Values Mount Abrams dominates the San Juan Skyway Scenic Byway for most of its length from Red Mountain Pass across Ironton Park. Its lush green slopes provide a spectacular backdrop to Ouray during the summer, and it is equally beautiful in the winter. From the summit, there are spectacular views to the south of the Red Mountains (1,2,3) and across the valley to Hayden Mountain. Abrams Mountain is part of the long four-mile Brown Mountain ridge, which rises up and down several summits to a high point of 13,339 feet that is the official summit of Brown Mountain. Also known as Duco Mountain, it is identified by a benchmark on the summit. The spectacular Gray Copper Falls and trail is directly west of the Brown Mountain summit. The upper end of the Gray Copper Falls trail intersects with a popular jeep trail spur off the Corkscrew Pass road near the Vernon mine, but the Gray Copper Falls Trail offers visitors a beautiful hike to see the falls.
    [Show full text]
  • 28 Ouray Jeep Jamboree
    28th Ouray Jeep Jamboree Ouray, Colorado September 3 - 5, 2015 Trail Rating 3 – 8 NEW FOR 2015 • Participant tires are not to exceed 37” with a combined lift of 6”. If you exceed these limits you will be turned away at registration and will not be allowed to attend the Jamboree or receive a refund. • In order to be able to sign-up for your trails, your Vehicle Evaluation form must be initialed by the Event Staff when you get your registration packet. • The trail sticker given to you at trail sign-ups needs to be displayed on your windshield prior to leaving for trails on Friday and Saturday. • Each Participant must wear a nametag and wristband from Thursday at Registration through Saturday until the end of the Jamboree. • Clothing will only be available at the Jamboree and will not be displayed on the website, except for the Annual Event T-shirt. • JJUSA Annual Event T-shirts are not trip specific. It is the same for the entire season. Some Jamborees do offer Jamboree specific shirts and merchandise for sale during the Jamboree. • While the Trail Guides do their best to trim back as much brush as possible, we are limited by Federal, Tribal and Private landowners as to how much “trail maintenance” can be performed. ALWAYS REQUIRED • It is mandatory to return a waiver (one per each Jamboree) signed by everyone in your vehicle to the JJUSA office at least two weeks prior to the Jamboree you are attending. A waiver for participant’s under the age of 18 years old must be signed by a parent or the minor’s legal guardian.
    [Show full text]
  • O F F I C I a L V I S I T O R ' S G U I
    OFFICIAL VISITOR’S GUIDE 2019 Spacious rooms with mountain views • Complimentary full breakfast • Walking distance to Ice Park, restaurants, shops, hot springs pool • Guest laundry • Coffee in rooms • Air conditioning • Outdoor spa and sundeck • Fridge and microwaves in all rooms In the Heart of it all... • Platinum Hospitality Award by Centrally located in downtown Ouray Choice Hotel 510 Main Street, Ouray, Colorado 81427 Within walking distance of hot springs pool, Ouray Ice Park, multiple hiking trails, waterfalls & downtown. (970) 325.4331 www.ouraychaletinn.com 191 Fifth Ave., P.O. Box 1163 • Ouray, CO 81427 • 970.325.7203 www.choicehotels.com Table of Contents k 28 4 Welcome to Ouray & Ridgway 6 Recreation Capital of Colorado John Wood - County Road 7A Ouray – The 7 38 Ghost Towns of the Switzerland of America Red Mountain Mining District Ridgway – Think Outside 8 39 Explore our Rich Frontier Past Ridgway & the Colorado 9 Visit Famous Filming Locations Creative Corridor 40 43 Culinary Experiences – 10 Calendar of Events Fresh Food Discoveries Await Outdoor Adventure 15 44 A Destination for Foodies 16 Hiking, Walking & Running & Beverage Connoisseurs 16 18 Breathtaking Bike Rides 46 Weddings & Gatherings 20 Off-Roading: Jeeps & OHVs 48 Scenic Drives & Epic Day Trips Antoni Tapl - Blue Lakes Trail 22 Ridgway State Park & Reservoir 50 Getting Acclimated 24 Rafting, Kayaking, Tubing, 51 Trip Planning – How to Get Here SUPing & Fishing 52 Relocating to Ridgway & Ouray 26 Climbing: Boulders, Mountains, Canyons & Ice 54 Business Directory 54 Accommodations 28 Golf, Photography, Hunting, 55 Dining, Bars & Cafes Wildlife Viewing & More 56 Shopping 29 Snow Sports: Snowshoeing, 57 Entertainment & Nightlife Nordic Skiing & More 58 Outdoor Adventure 59 Health & Wellness 30 Health & Wellness – 60 History & Heritage World-Famous Hot Springs 60 Local Services 31 Activities for Body, Mind & Spirit 32 Arts & Entertainment – OURAY TOURISM OFFICE Galleries, Studios & More 1230 Main St./P.O.
    [Show full text]