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relikwie

08/10/11 9:08 AM

#108 RE: relikwie #106

I should add some side info to this PR:

* Total indicated and inferred resources is 276 million lbs, calculating this (using a $4 p/lbs) gives us 1.2 Billion US dollars worth of copper.

* The metallurgy is excellent with 98% recovery

* Ore is high grade

* The deposit lies close to a sea port and better yet, there is an existing underground mining infrastructure which should make mining this cheaper and quicker.

* VEC will have a smelter nearby in Newfoundland operational in 2012. With the seaport and a smelter around the corner this could become an interesting and viable mine.

* Mineralization still continues in depth and to the west of the deposit, so the resources can be added to in the future.