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New exploration techniques were developed for the exploration of copper magnetite skarns. Using hand held ground magnetometers beginning in about 1959, many new discoveries were made, some of which remain quite large. Included are the Bawana, Maria, Hidden Treasure, Candy B, and Valley.
Methods of Metal Recovery:
Each major ore body will require a different process to recover all of the metal that can be economically recovered. The first project will be to process the ore in the Hidden Treasure Mine. This mine, like the Maria, Candy B, Copper Ranch, Sunrise, and Valley is rich in copper oxide ore with considerable values in gold and silver. For this reason WUCC will combine several known technologies to allow full recovery of all three metals. In summary, the ore will be milled to a fine powder, concentrated by flotation, Vat leached with ammonia, or acid, in a closed circuit controlled environment, and fed into a SX/EW plant to produce cathode copper. The gold and silver will be precipitated out of the sludge remaining and processed off site.
Mineral Reserves:
It should be noted that often a very fine line is all that exists between ore reserves, probable reserves, and inferred reserves. A good example of this would be the Candy B ore body shown below at 1.26 million tons. Ongoing drilling has already upgraded this deposit to over 7 million tons inferred. The current model suggests up to 40,000,000 tons for the Candy B. If this ore body never exceeds the 7,000,000 tons it will add over 150,000,000 pounds of copper to the reserves base. Almost doubling what is modeled herein. 350,000,000 pounds of copper at today’s price with the gold and silver is over one billion dollars. Management believes the project will grow to far exceed these numbers many times.
Reserves Certified by Mine Development Associates: MDA, per table 4.3 (Tab One), has certified as proven and probable the following reserves using the ultimate pit curves as designed by Medsystem Lerchs-Grossman:
Hidden Treasure Mine - 802,000 tons at 1.75% copper-cutoff at .57% - 28,081,000 pounds of copper
Since the project will also implement the SX/EW operation as contemplated by the Nevada Star Resources Corporation Feasibility Study, a substantial amount of rock that runs .3-.5% copper which would be either not be mined, or would be put in the waste piles, is now ore for the leach pads. It is estimated to contain at least one million pounds or more of copper. Hidden Treasure concentrate (report 72-4, and memo December 14, 1973 Clement K Chase) and Inspiration smelter schedule ran the following: 32.8% CU, 0.87 oz/ton gold, 74.6 oz/ton silver or, $826.56 per ton copper, $351.48 per ton gold, $432.68 per ton silver.
Maria Mine - 559,000 tons at 1.13% Copper-cutoff at .42% - 2,594,000 pounds of copper
Note: same as above except the marginal materiel will be more, perhaps1.5 million pounds of copper.
Copper Ranch Mine - 280,000 tons at 1.13% Copper-cutoff at .43% - 6,327,000 pounds of copper
Note: same as above with approximately 350,000 pounds of copper.
OK Mine - 1,223,000 tons at 0.73% Copper-cutoff at .26% - 7,804,000 pounds of copper
Havenstrite Management certified 1.9 million tons at .62% copper and 23,700,000 pounds of copper. This number, based on the past work of Dotson Exploration Inc. at the OK Mine, is valid.
MDA Tons Certified: 2,864,000 - pounds certified 64,806,000
pounds probable 74,526,000
Reserves Certified by Havenstrite Management (Tab Two):
Mary I Mine - 1,100,000 tons at 0.35% Copper (.5-1 strip) - 7,700,000 pounds of copper
Cortex Dumps - 200,000 tons at 0.55% Copper - 2,200,000 pounds of copper
Essex OK Dumps - 1,770,000 tons at 0.45% Copper - 15,930,000 pounds of copper
Havenstrite tons certified: 3,070,000 - pounds certified 25,830,000
Reserves and Resources Certified by Peter Joralemon (Tab Three):
Note: MDA found a high level of confidence in the Peter Joralemon Report with respect to tons and grade.
Candy B - 1,230,000 tons at 1.26% Copper - 30,996,000 pounds of copper
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NICE...DD...the plot thickens
Candy B, If their is any chance you can obtain proof of that statment my nerves would definitely settle. However, through the vine, others have their doubts.
BTW, do you know if we are pulling ore out of the Candy B pit and sending it to the mill?
YUP.....who knows though...could that damn NSS sneaking up on us again....
Hammer..that would pretty much sum it up! Right now trying to verify if a single load of Con has shipped is probably the least of their/our worries. High Volume and Red today is not looking good...IMO
SALT LAKE CITY -- Lenders have filed a Notice of Default ("N.O.D.") against Western Utah Copper Company Inc. (WUCCWUCC World Ultimate Club Championship
which is located in Milford, Utah. WUCC is reportedly a wholly owned subsidiaryWholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
The Lenders are foreclosing for lack of payment on a 1st Deed of Trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. and also on a 2nd Deed of Trust. The collateral that is secured by these Deeds include, but is not limited to: State land leases, water rights, unpatented mining claims, patented mining claims and other collateral as described in the Deeds of Trust. WUCC has been in default to the Lenders for over one year, therefore the Lenders filed the Notice of Default to foreclose on the collateral. Bridge Loan Capital Fund LP is currently one of the Lenders mentioned above.
Rich, Before or After Oct 9th?
Banlish....I'm just a newbie.... Just trying learn the ropes you know.....
L2 is telling me its down 9.7%....I'm just sayin..
Well possibly..
Well maybe....
Anyone care to take a stab at answering my question?
Posted by: lexion585 Date: Monday, September 21, 2009 3:43:32 PM
In reply to: None Post # of 35142
True: Sounds like you are pretty close to the mine. I heard the mine have/had some special vistors from out of the country? Do you know what this is about? This probably another one of those nasty rumors but maybe you can confirm one way or the other. Thanks
I believe its still in the BETA stage....give it a few months.
Ran 3 times yesterday on Nick.....Peace
Tomorrow their sunshine...one trading day left...
Ya Nate you are probably right.....gotta watch NITE...can be little rascals at times.....
True: Sounds like you are pretty close to the mine. I heard the mine have/had some special vistors from out of the country? Do you know what this is about? This probably another one of those nasty rumors but maybe you can confirm one way or the other. Thanks
WOW...someone is dumping fast.........check the tape for verification...
Opus...my proverbial seatbelt is fastened, just waiting for departure. We should be living the gate soon...
Hammer...are you saying that a BILL of Lading has not surfaced yet?
CPRK..you could be right. I wonder if the mineralization is equivalent across all the pits? hmmmmmm..I will see what I find out on the net...
Sweet! Great news? BTW, does anybody know which pit our newly shipped con derived from?
Hear ya bro....So when do you think that BOL will be posted to the board for all of us to view?
Hammer...WOW nice DD. Yes, something is not adding up that's for sure. And you are 100% spot on as it relates to LT financing. If and only Dotson is able to secure any type of bridge loan, you can almost bet it will be toxic at best. Probably 30% rates would be nominal at best.....
This is a very unfortunate situation current CPRK shareholders are faced with.........Who knows, maybe a R/S is not out of the question anymore??????
SALT LAKE CITY -- Lenders have filed a Notice of Default ("N.O.D.") against Western Utah Copper Company Inc. (WUCCWUCC World Ultimate Club Championship
which is located in Milford, Utah. WUCC is reportedly a wholly owned subsidiaryWholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
The Lenders are foreclosing for lack of payment on a 1st Deed of Trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. and also on a 2nd Deed of Trust. The collateral that is secured by these Deeds include, but is not limited to: State land leases, water rights, unpatented mining claims, patented mining claims and other collateral as described in the Deeds of Trust. WUCC has been in default to the Lenders for over one year, therefore the Lenders filed the Notice of Default to foreclose on the collateral. Bridge Loan Capital Fund LP is currently one of the Lenders mentioned above.
Again who knows for sure....but I can tell you that SLT has had an appetite for growth.....hmmmmmmm who knows...I guess we can all sit and speculate on this fine sunday afternoon. You should really check out their financials......I'm sure they petty cash in their candy draw should be plenty come oct 9th. IMO
Webtime, you are 100% correct...however, this could be a nice little tax write off for them.......IMO I"m sure they could use some of the mill for spares parts and such.
Nate...why would RIO buy CPRK at full price when come Oct 9th, they could probably pick purchase cprk for pennies on the dollar? IMO
Nate...where are you pulling this chart from?
Nice post.....
Nate...start here with your DD and report back if you would...You may get some questions answered.
http://www.bridgeloancapital.com/
No one made claim that CPRK was not real, the real question that still remains to be unanswered is if they can truly deliver the goods, DAY in and DAY out...
Oh beleive me my friend I am very happy to be at the train station on this one.....however, good luck to you...
Twisting, I would say you are doing some of that yourself, trying to pass off speculative information for facts...please be sure to add IMO to your posts next time....We don't want any newbies getting the wrong impression that they justed landed upon a "gold mine"
Well then lets hope that Oct 9th will come and go then!
Nice point.....which just reminds of a little issue that may have been recently swept under the rug. That old milford SUBSTATION. Does anyone know if this issue has been finally resolved, or do the lights still go dim when CPRK flips on the power?
Below is the question I was asking.....
And how much do you think Management is getting paid? BTW, if CPRK is going by local union rates, you will need to raise hourly dollar figure...IMO
LOL...I thought we already discussed this? That weight ticket does not mean jack. In fact tomorrow I will go an produce one of my own and post it to the board......Now where is that thingy, majigger, thing called a BILL OF LADING????
Sorry friend no dice. I've hauled too many commodities in my lifetime to know better.
Now you don't forget those key words either......"Scheduled" "Expects"....Then you have "regular" How do you pull that it means daily out of this?
MILFORD, UT--(Marketwire - 09/17/09) - Copper King Mining Corporation (Pinksheets:CPRK - News) ("Copper King" or the "Company") and its wholly owned subsidiary, Western Utah Copper Company, are pleased to announce that they are scheduled to begin regular shipments of copper concentrate beginning September 21, 2009 to a receiving smelter pursuant to the Company's concentrate sale agreement with RBS Sempra Metals & Concentrates, LLC on behalf of The Royal Bank of Scotland PLC. The Company expects to initially ship one truck load per day, five days a week, gradually increasing to three trucks per day, five days a week. The Company also announces that it further [expects to increase its magnetite production by as much as 100%, from the current level of approximately 2,000 tons every ten days to 4,000 tons of magnetite concentrate every ten days. Shipment of magnetite is currently by rail, while copper concentrate shipments will initially be by truck to a domestic receiving smelter.
And how much do you think Management is getting paid? BTW, if CPRK is going to local union rates, you will need to raise hourly dollar figure...IMO