The historical past, and the way forward for British Columbia’s Brucejack mine

However the true Brucejack mine story began 1999, when it was acquired by Silver Normal, which held a 60% curiosity on the time of what consisted of about 3,000 hectares and some exploration prospects. The story actually began to achieve momentum in August 2009, when Silver Normal reported an intercept of 16,948 gram per tonne gold over 1.5 metres. 

In 2010 Pretuim IPO’d on the TSX, elevating C$280 million by way of non-public fairness, offtake agreements, and a valuable metals stream. It acquired Brucejack from Silver Normal for $450 million in October that 12 months. 

5 years later, on September 5, 2015, development started at Brucejack, considerably of an anomaly with regards to the persistent allowing processing backlogs in British Columbia miners need to take care of. 

It started business manufacturing on July 1, 2017,  financed throughout one of the protracted mining downturns in historical past, when few buyers have been placing cash into new mines, considerably of an anomaly in mining with regards to money movement within the mining sector. 

Constructed at a capital value of $1 billion, Brucejack was projected to provide roughly 500,000 ounces of gold for the primary 10 years, with an estimated mine lifetime of 18 years. 

A 2020 technical report estimated gold manufacturing of 311,000 ounces per 12 months, at an all-in sustaining value of $743 per ounce, over a projected mine lifetime of 13 years. In 2021, the mine is anticipated to provide between 325,000 and 365,000 ounces of gold.

However the street to manufacturing would show to be rocky. 

Shares in Pretium Sources tanked in early 2018 after the corporate introduced disappointing manufacturing and value forecasts.

Excessive-grade, gold-silver mineralization on the Valley of the Kings happens in steeply dipping and predominantly east- to northwest-trending quartz stockwork veins and breccia zones, inside a broader halo of clay alteration and low-grade mineralization.

Brucejack consists of the Valley of the Kings deposit, and the result’s that the gold mineralization is “nuggety,” which makes it arduous to mill with predictable output.

As of January 1, 2021, Brucejack’s Valley of the Kings deposit held a compliant confirmed and possible reserve base of 11.5 million tonnes grading 8.7 grams per tonne gold and 9.8 grams per tonne silver, for 3.2 million ounces advert 3.6 million ounces of gold and silver metallic, respectively.

The West Zone additionally holds confirmed a possible reserves totalling 29 million tonnes grading 6.8 grams per tonne and 278.5 grams per tonne for a respective 600,000 ounces gold and 26 million ounces silver, respectively.

Brucejack and surrounding tenements are throughout the conventional territories asserted by the Tsetsaut Skii km Lax Ha and Tahltan Nation, and within the Nass Space of Nisga’a Nation.

Enter 2021 

This 12 months, Pretium Sources didn’t disappoint when it made a brand new high-grade gold exploration discovery on the Golden Marmot Zone at Brucejack. 

The corporate mentioned it had obtained assays for the primary 9 drill holes, eight of which intersected gold with a spotlight of 53.5 metres grading 72.5 grams per tonne gold together with 05 metres grading a bonaza 6,700 grams per tonne gold and three,990 grams per tonne silver. 

“Preliminary outcomes from Golden Marmot are thrilling and affirm the district-scale potential of the Brucejack property,” president and CEO Jacques Perron mentioned in an October 2021 assertion.

In November, Newcrest made its transfer and introduced the acquisition.

“We’re delighted to be increasing our presence on this extremely potential area in British Columbia. Brucejack is a Tier 1 mine in a Tier 1 jurisdiction and can ship speedy manufacturing, free money movement and earnings diversification to Newcrest and can match seamlessly into our long-life, low-cost portfolio,” Newcrest CEO Sandeep Biswas mentioned in a media launch.

“The mix of Newcrest and Pretivm will create the main gold miner in British Columbia’s Golden Triangle, working each the Brucejack and Crimson Chris mines,” Biswas mentioned.

“Newcrest focuses on what I name tier-one deposits,” Biswas mentioned in a current interview with The Northern Miner. “We have now a transparent technique the place we wish to proceed to achieve publicity to tier-one deposits, which in our terminology is often 300,000-plus ounces per 12 months equal, comprising copper if out there, and gold.”

Newcrest will carry its intensive block-caving and epithermal vein expertise to the desk, which might entail a philosophical step-change for a way the longer term Brucejack asset shall be operated.

Whereas Brucejack’s previous has seen some hiccups, its future appears brilliant given the deep mining expertise a top-tier miner reminiscent of Newcrest has.

What do you think?

Written by colin


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