Northern Dynasty Minerals Ltd. released results Jan. 9 from its late-season 2005 drilling in a newly-discovered ore body at the company's proposed Pebble copper-gold mine on the Alaska Peninsula west of Anchorage.
The results confirmed the presence of a large, deep ore zone that could significantly expand the amount of copper, gold and molybdenum ore the mine might produce. Based on its previously known ore resources, Pebble was already the largest undeveloped gold deposit and second largest copper deposit in North America. The new discovery means resources at the mine are even larger than previously thought.
All four holes showed higher-grade copper and gold values that were similar to values reported in other test holes drilled earlier in the fall.
The results, combined with test results announced by Northern Dynasty on Sept. 21, Oct. 20 and Nov. 1, indicate a new porphyry deposit "that hosts a substantial volume of high-grade copper-gold-molybdenum mineralized material," according to a press release from Galahad Gold, an investor in Northern Dynasty. Galahad owns 23.9 percent of Northern Dynasty, whose major project is developing the Pebble mine.
Northern Dynasty said Jan. 9 that all results from its 2005 drill program have now been released and that the company will resume test drilling at the project March 1 with four drill rigs.
The company is also preparing an initial resource estimate for the new ore body, which is located just to the east of a large ore deposit on which Northern Dynasty has been preparing a feasibility study for mining.
"Plans are currently being revised to incorporate this recently discovered substantial high-grade porphyry deposit. Until the new deposit is drilled and delineated, it is premature to finalize the feasibility study or to prepare permit applications," Northern Dynasty said in its press release.
"Accordingly, completion of the feasibility study has been deferred until results of the new east zone drilling are integrated into the overall Pebble project plan," the company said.
Tim Bradner can be reached at tim.bradner@alaskajournal.com.
