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By G. Auld

"A simple method is presented whereby the additional quantity and static pressure necessary to compensate for ventilation duct leakage may be estimated using the circular reference functions of modern spreadsheets. Favourable comparisons have been made to the National Coal Board (United Kingdom) design charts and to a case study analysis. IntroductionIn mining, most ducted systems are applied to the development of access tunnels, and most of these systems leak to some extent. When the ventilation duct fails to deliver the required quantity of air to the work place, there is a significant contribution to the development costs, either directly or indirectly.Directly — More air and more pressure are required to compensate for the leakage, more capital development (ventilation shafts, parallel drives) are required because ventilation systems cannot push the fresh air far enough, and longer re-entry times to ensure toxic blast fumes to be diluted.Indirectly — There is a reduction in productivity because of the inclement atmospheric conditions, and/or closure of development ends because of unacceptable atmospheric conditions at the working place. This has been exacerbated over the last few decades because of the increased use of diesel equipment of ever increasing power, and the more stringent Occupational Health and Safety requirements demanding more air flow per kilowatt of diesel power.The leakage from a duct must, therefore, be reliably estimated in order to assess the effectiveness and construction of the system; assess the effectiveness of the maintenance or repair of the duct; appreciate the cost of the leakage, and therefore apply effective maintenance and installation procedures; and engineer safer, healthier and more cost-effective ventilation systems."

Jan 1, 2002

By N. K. Dumakor-Dupey, G. B. Sakyi-Addo, K. J. Bansah

"Artisanal and small-scale mining (ASM) occurs in many countries around the world, and provides a source of livelihood to many impoverished local people in areas where it occurs. This paper reports the role of female participants and reasons why they engage in ASM. Field visits were made to 12 ASM sites located in the Tarkwa Mining District of Ghana to conduct interviews with male diggers and female participants. It was observed that over 100 women between the ages of 18 and 50 participate in ASM for survival. They engage in ASM largely because they have no alternative employable skills and income sources. These female participants depend on ASM to sustain the lives of their dependents. INTRODUCTION Artisanal and small-scale mining (ASM) conventionally involves use of rudimentary tools (such as picks, shovels, chisels and hammers) to exploit precious minerals and metals from the ground. It has been a major source of livelihood to many impoverished local people for more than a century. In many instances, it is the only source of income to indigenous people who have no alternative employable skills. The World Bank estimated that more than 100 million people around the world benefit from ASM which largely occurs in developing countries in Asia, Africa, Oceania, and South and Central America (World Bank, 2013). Cobalt, which is used in lithium-ion batteries to power cellphones, laptop computers, and electric vehicles, is largely produced by artisanal miners in Congo (The Washington Post, 2016). In Sudan, ASM is a significant contributor to the national economy, accounting for about 85% of total gold extracted yearly from 2010 to 2015 (Ibrahim, 2015). Also, according to the Embassy of Sierra Leone in Washington DC, USA, 90% of mineral export in Sierra Leone can be attributed to thriving artisanal diamond mining in the country (Sierra Leone Embassy, 2016). In Ghana, the ASM sector was recognized by government as a multimillion industrial activity, and through a series of initiatives, it was legalized by promulgating the Small Scale Gold Mining Law of 1989 (PNDCL 218). Presently, artisanal mining is widely practiced in two forms: licensed (registered), sometimes referred to as formal ASM, and unregistered (informal or illegal) operations, popularly called “galamsey”, a name believed to have been derived from “gather and sell” by ancient miners who could not communicate in the English language with European/British miners. The ASM sector in Ghana, like other countries, has seen a rise in female participation over the years. A report by the International Labour Organization (ILO) indicated that women account for about 15% of total workforce in ASM in Ghana, and up to 50% in Africa (ILO, 1999). Other researchers have also estimated women participants in ASM to be between 30 and 70% in Africa (Hinton et al., 2003a; Hinton et al. 2003b; Hilson, 2002). Presently, there is no reliable data from Ghanaian authorities on number of females engaged in ASM. However, data obtained from 15 ASM sites suggest that at least 40% of the employees are women. It is expected that a similar trend exists across ASM operations in Ghana."

Jan 1, 2017

By S. Okubo, K. Fukui

Empirical equations established for estimating the rock strength of the working face based on the cutting forces of a tunnel boring machines (TBM) are further examined and discussed with respect to the dominant factors affecting TBM performance. Constants in the equations are related to TBM-specific parameters such as excavation (tunnel) diameter, cutter diameter, and cutter distance. The relationship between the constants and the TBM specifications is examined in this study on the basis of data collected at ten tunnels, and it is found that the constants are most strongly influenced by the cutter diameter and tunnel diameter. Zur Schätzung der Gesteinsfestigkeit an der Arbeitsfläche ermittelte empirische Gleichungen, die auf den Schneidekräften von Tunnelbohrmaschinen (TBM) beruhen, wurden weiter im Hinblick auf die vorherrschenden, die Leistung der TBM beeinflussenden Faktoren hin untersucht und diskutiert. In der Gleichung enthaltene Konstanten werden zu den TBM-spezifischen Parametern wie Auschachtungs- (Tunnel) Durchmesser, Schneidendurchmesser und Schachtlänge in Beziehung gesetzt. Die Beziehung zwischen diesen Konstanten und den technischen Daten der TBM wird in dieser Studie auf der Basis der bei 10 Tunnelbauten gesammelten Daten untersucht. Dabei wurde gefunden, dass diese Konstanten am stärksten von den Durchmessern der Schneiden und der Tunnel beeinflusst werden. Cette étude examine et discute les équations empiriques permettant d'estimer la résistance de la roche attaquée aux forces de coupe des tunneliers dans le cadre de l'étude des facteurs dominants affectant les performances des tunneliers. Les constantes de ces équations concernent les paramètres spécifiques des tunneliers comme le diamètre d'excavation (du tunnel), le diamètre du couteau et la distance de coupe. Cette étude examine le rapport entre ces constantes et les caractéristiques techniques des tunneliers d'après des données collectées dans dix tunnels et elle conclut que ces constantes sont principalement influencées par le diamètre du couteau et le diamètre du tunnel.

Jan 1, 2003

By Omid Asghari, Amin Mousavi, Arshad Ranjbar

Geometallurgical modeling of the production benches is an attempt to estimate the geometallurgical variables of the different ore domains, which leads to a better understanding of the ore and its properties. Having geometallurgical variables results in a more accurate prediction of ore characteristics, an improved drilling and blasting operation, and better efficiency of the processing plant. In this research, the geometallurgical variables required for the geometallurgical modeling of the extraction benches are discussed. Then, the relations between Bond work index (BWi), as one of the most important geometallurgical variables and the primary grindability index, and rock geomechanical properties are investigated based on the previously published studies. The BWi is the main parameter for measuring the resistance to the grinding of ore minerals. It represents the energy required for processing (e.g., crushing, grinding) ore rocks in the beneficiation plant. As a real case study, BWi of a production bench in Sungun Copper Mine, located in East Azarbaijan province, Iran, was estimated. The rock’s geomechanical properties were measured using laboratory tests, including uniaxial compressive strength, Brazilian tensile strength, point load strength, and hardness. Then, BWi was estimated using the proposed formulas in the literature and the results of the rock’s geomechanical properties. The selected bench consists of three ore zones and two dyke domains. The laboratory tests revealed that the first ore zone has a slightly higher compressive strength than the other two zones, while the compressive strength of the waste rocks is larger than the ore domains. Using the proposed equations in the literature, the predicted values of the BWi for the samples in ore zones are in the range of 6.36 – 14.44 (kWh/t), and therefore this wide range must be considered when the short-term production schedule is planned. In addition, variations are observed in the samples within a specific zone and between the ore zones, demonstrating heterogeneity in the selected bench. Finally, wide-open results obtained by different equations show a necessity to perform a geometallurgical program specifically for the Sungun mine.

Oct 28, 2021

By G. T. Krempasky

In an attempt to develop a suitable precast concrete support for underground use, two different models (1955 and 1958) of a five-piece concrete set were designed, fabricated, and tested under adverse loading conditions. Model 1955 was designed to withstand an ultimate, uniformly distributed, vertical load equivalent to what a three-piece, 12- by 12-inch wood set of intermediate-grade Douglas fir would withstand. A design figure of 138,000 pounds for the vertical load was used on both the 1955 and 1958 models. In addition, the 1958 model was designed to withstand a uniform horizontal load of 7,000 pounds per foot and additional concentrated-point loading. The step- by-step design of each model is presented in the appendixes. A series of five destruction tests was conducted underground on the 1955 model, and results of the tests showed that the type and method of blocking were of major significance.

Jan 1, 1963

By RT White

For many years the concept of life cycle costing (LCC) was promoted for decision making in corrosion protection systems. Nevertheless, the application of LCC was limited. Input data was often sourced from suppliers and met with scepticism. As a result final analysis was often insufficiently rigorous to meet the needs of Project Managers in sound decision making. The need for expediency often resulted in non-optimal corrosion protection system specifications. With improved communications and the global reach of industries, case history data, based upon actual performance has been able to provide input to substantiate decision making. However, today?s focus upon sustainability whereby environmental, economic and even social aspects enter into decision making has extended LCC into Life Cost Analysis (LCA). In an LCA analysis energy and environmental inputs into systems are compared as part of an overall assessment. The development of Agenda 21 at the Rio summit of 1992 has challenged the countries of the world to look at sustainable development in every economic activity. This ranges from construction to mining to electricity production to automotive production, use and disposal. The protection of buildings, infrastructure and transport systems is part of the needs of sustainable development. Zinc based corrosion protection has been an important part of the arsenal of the corrosion protection industry. This paper will highlight the use of LCC and the development of LCA with reference to the use of zinc based protection systems in a number of important industries.

Jan 1, 2006

Solid Energy New Zealand Limited owns and operates the Ohai coal field (Wairaki Coal Mining Licence, CML) in western Southland. The Morley Stream passes directly through the middle of the CML and has required diversion in the past to enable open cast mining to proceed. Solid Energy is evaluating two new open cast pits at Ohai. Commissioning these new pits would necessitate further diversion of the Morley Stream. One of these potential new mines is adjacent to an abandoned State Coal Mines (State Coal) pit and there is an opportunity to substantially rehabilitate this old pit as a corollary to the new mine and the stream diversion project.   Past Morley Stream diversions were undertaken by State Coal and so they predated the Resource Management Act 1991 and the degree of community environmental awareness and involvement that has become the norm these days. Not surprisingly the design and construction of the historic stream diversions was based purely upon mining (operational) and engineering considerations. This led to the stream being diverted in a manner that achieved the clinical conveyance of design volumes of water from points A and B.   Solid Energy realised that the proposed new diversions need to adopt more holistic and environmentally sustainable design principles while also including appropriate mining and engineering constraints. This project involved the design of a 1.7 km diversion of the Morley Stream (median flow of about 1000 litres/second) that would enable progressive prestripping and development of the new mines and would also address final rehabilitation (of the stream), geotechnical risks, hydrological and ecological issues. To address all of these factors the project required a multidisciplinary approach. Moreover, it required a clear understanding of how the mining operational constraints could be integrated with the environmental considerations. A significant aspect of the project was how to take account of fishery instream habitat needs, the resource consent requirements and most of all, the involvement of key stakeholders such as the Fish & Game Council, Department of Conservation, the Iwi and local community in the design process. This was achieved through coordinated consultation and stakeholder involvement in a technical design workshop.

Jan 1, 2005

Iron Concentrate Synthesised from Waste Ferrous Sulfate Produced in Titanium White Preparation

Sep 13, 2010

By Simon D. Strauss

This article is part of a presentation Strauss made Dec. 3, 1988 at the sixth annual American Mining Hall of Fame (AMHofF) banquet in Tucson, AZ. At the banquet, the Mining Club of the Southwest honored Strauss by naming him the 1988 recipient to the AMHofF. (Industry newswatch, page 6). Introduction In the last two decades, there have been two previous periods of sharply rising copper prices. One was in 1973-74; the other in 1979-80. In both cases, a short period of high copper prices was followed by steep and prolonged periods of low prices. In the language of the market analyst, the high prices were called spikes. Is it likely, then, that three or four years from now the present price of copper will show up as a spike in the charts? There are substantial differences between the current position and the markets of 1973-74 and 1979-80. In 1973-74, US copper prices were subject to government-imposed price ceilings of $0.60 per lb through early December, 1973. These were increased to $0.68 per lb through May, 1974. Meanwhile, mines outside the United States were free of restraint. Rising demand in London pushed the price above $1 per lb in the third quarter of 1973. In early April 1974, it reached a peak of $1.50 a lb. In May of that year, the US ceilings were removed and the domestic price began to rise. What were the causes of this price strength? While ceilings held the domestic price below the world market, domestic consumers acquired all the tonnage offered by US mines. Meanwhile, in the world market, buyers feared prolonged shortages. The Club of Rome had warned that world economic growth would be limited by impending depletion of mineral resources. There was al so concern about a copper cartel that might increase copper prices even more. In early 1974, at a special United Nations session, developing-country spokesmen warned the industrialized world to expect high commodity prices. Also adding to the concerns of copper buyers was the fear that when US wage contracts expired in mid-1974, protracted strikes might ensue. The combined effect of this atmosphere was that consumers accumulated large amounts of copper, far above their normal carry. By midsummer, the position changed radically. While some strikes did occur in the United States, they proved short-lived. The most significant development was a massive economic recession. The energy crisis was causing enormous dislocations in the world economy. Construction activities were sharply reduced and automobile sales plummeted. Public confidence was shaken. Copper sales fell precipitately as consumers decided to draw down their swollen inventories. The price came down too. In April 1974, the London price- as noted-was $1.50 per lb. By the end of the year, it was down to $0.57 per lb. In 1973-74, the copper price rise was fed by fears of shortages, cartels, and strikes. In 1979-80, the market rose on the strength of good demand plus political and military instability. The price rise was also fed by inflationary trends, exemplified by speculation in precious metals. Prior to this second spike in copper prices, the market had been depressed despite economic recovery. Despite reduced US output, copper production in the rest of the world was increasing. Though consumption was rising, surplus stocks reached unprecedented levels. At the end of 1977, the aggregate of stocks at the refineries and in the exchange warehouses was 1.5 Mt (1.67 million st). That was more than three months' shipments at then rates of consumption. In 1978, the statistical position improved. Shipments of refined copper that year were 8% greater than in 1977. The result was reduced visible stocks but -just as was to be the case in 1984-86 - the price remained depressed. In 1979, an even sharper drop in visible stocks occurred as shipments rose by another 4%. This time, though, the price responded. In December 1978, the price in current dollars had been less than $0.70 per lb. By the end of 1979, it was above $1 per lb. And in the first quarter of 1980, it averaged more than $1.20 per lb. Military and political developments were a factor. The hostage crisis in Iran was followed by the Soviet invasion of Afghanistan. To many, it appeared that war might result if the Soviets pushed on into Pakistan. At the same time, speculation drove gold and silver prices to incredible levels. As silver prices rose above $40 per oz), copper above $1 per lb did not seem unreasonable. Then, in March 1980, the precious metals price boom collapsed. Copper prices also retreated, though not as much. In February 1980, the copperprice averaged $1.32 per lb. By December, it had dropped to $0.85 per lb. In 1981 and 1982, the decline continued. The present copper situation Why is the current situation different from these two previous episodes of high prices? First of all, today's inventories are far lower than they were in either 1974 or 1980, when the price declines began. The stocks at refineries and in exchange warehouses are substantially less than they were then. More significantly, consumers today have very limited holdings compared with stocks they carried in 1974 and 1980. Even if faced with a downturn in their own business, copper consumers will not be able to stay out of the market. To the extent they have any business at all, they will have to buy copper. And on the supply side, there is also a significant difference. The year 1988 has been unusual. US production is up sharply, responding to higher prices. But production is little changed in the rest of the Free World. Indeed, several of the major producing countries have mined less copper this year than in 1987 despite the prices increases. Peru has had labor problems that have cut its output. Zambia and Zaire suffer from shortages of expatriate technicians, not to mention spare parts. They also suffer from the failure to maintain equipment or perform adequate development. In Chile, the two largest mines, Chuquicamata and El Teniente, have not met their production targets. Chuquicamata is struggling with high arsenic content in its ore. And, in late 1987, severe rockbursts hampered operations at El Teniente. In addition, depletion of some mines in Australia and South Africa has offset rising output at other properties. Indeed, when final mine output figures for 1988 become available, it may well be

Jan 1, 1989

Jan 1, 1970

By Sylvie Poirier

Researchers at Natural Resources Canada (NRCan) CANMET Mining and Mineral Sciences Laboratories (CANMET-MMSL) and Mining Technologies International (MTI) have designed and built a hybrid diesel-electric mining loader that is the first of its kind to be developed for underground mines. Diesel equipment is popular because of its mobility and most mining operations are reluctant to replace it with tethered electrical equipment despite the obvious elimination of diesel contaminants and significantly lower heat generation (? 35% of an equivalent diesel). However, a diesel-electric vehicle, being currently evaluated by CANMET-MMSL, could be beneficial. In this unit, a constant load diesel generator feeds batteries which, in turn, powers electrical motors that drive the equipment. In a hybrid diesel-electric unit, the constant load diesel generator can be optimized for minimal emissions and hence lower dilution air requirements. This paper will present the project status and the anticipated benefits for mining operations through the application of this technology.

Jan 1, 2008

By Rudolph G. Wuerker

THE Krupp-Renn Process,[1] has been successfully used to treat low-grade iron ores, laterites, titaniferous sands, and other minerals, and before World War I1 25 units were built by the Krupp-Grusonwerk, Magdeburg, Germany. J. J. Howard[2] has shown theoretical advantages of the pyro-metallurgical treatment over conventional approaches; and the process was described by R. Durrer[3].

Jan 1, 1951

By W. Banda

"Trial application of air decks on a production shot improved fragmentation (32% reduction in x50). Empirical fragmentation models and digital image processing software were used to estimate fragment size distribution of the blasted muck pile. The x20, x50, and x80 passing fractions, and top size were 42, 265, 683, and 1,455 mm, respectively. Air-deck application reduced explosives load in blastholes, lowering total charging cost by US$20/hole (15% decrease) and the powder factor to an average of 0.86 kg/m3 (12% decrease). Blast results were 443,624 t of blasted material from the block (90% of total muck pile) was smaller than 900 mm.RÉSUMÉ L’application pilote de trous d’air dans le cadre du coup de mine effectué pour commencer la production a amélioré la fragmentation (une réduction de 32 % des x50). Des modèles empiriques de fragmentation et un logiciel de traitement numérique des images ont permis d’estimer la composition granulométrique des fragments du tas de déblais abattus. Les fractions de passé de crible de x20, x50, x80 et la dimension supérieure étaient représentées par des dimensions respectives de 42, 265, 683 et 1 455 mm. L’application de trous d’air a permis de diminuer la charge d’explosifs nécessaires dans les trous de mine, réduisant ainsi les coûts totaux de chargement de 20 $ US/trou (soit une réduction de 15 %) ainsi que le facteur de chargement (facteur poudre) à une moyenne de 0,86 kg/m3 (soit une réduction de 12 %). Les coups de mine ont résulté en 443 624 tonnes de matériaux abattus du bloc (soit 90 % du tas de remblais total) mesurant moins de 900 mm. INTRODUCTIONThe main objectives of production blasting are to achieve optimum rock fragmentation and to minimize overall production costs. Because blast fragmentation significantly affects the profitability of a mine, blasting is the first step of the size reduction in mining: An optimum size distribution is required to maximize the performance of mining and subsequent milling processes. If the fragmentation size distribution can be modelled and controlled, operations performance will improve. Blast fragmentation modelling is important in mineto- mill optimization: It allows the estimation of blast fragmentation distributions that can be modelled in downstream mining processes to determine the optimum blast design."

Jan 1, 2018

By Bruce McDonald

This report contains the Phase I findings of a study to select and test devices for preventing lack of alertness in haulage truck drivers. The extent of the problem was determined by visiting surface metal and nonmetal mines, interviewing drivers and safety personnel and reviewing accident reports. A number of devices for detecting a lack of alertness were considered and three were recommended for testing in actual operation.

Jan 1, 1977

H. DEAN JACOT RMCMI PRESIDENT 1987-1988 on behalf of The RMCMI Board of Directors and Officers The Rocky Mountain Coal Mining Institute cordially invites you and your family to attend the 84th Regular Meeting and Convention to be held June 26, 27 and 28, 1988 at Beaver Run Resort Breckenridge, Colorado

Jan 1, 1987

By Nielen van der Merwe

Mr Janisch' s comment' in the August issue on Dick Stacey's remarks about safety factors indeed requires wider debate. The example he quoted to illustrate the successful application of the safety factor concept in coal mining, namely the Salamon formula, is to my knowledge the only recognized application of that concept. Not only that, but that particular formula should be used only for what it was intended, namely to prevent major disasters. It was never intended to indicate long-term pillar stability, and it should not be used for that.

Jan 1, 1993

By Syd Peng, W. B. Guo, F. Du, L. Yang, J. Yw. Cheng

The annual ICGCM China was initiated in 2014. Up to 2023, ICGCM China has been held 9 times. In the 9 conferences during the past 10 years, about 559 papers in 17 topical areas were presented and attendance ranged from 200+ to 400+ each conference. The 42nd ICGCM China was held in Xiangtan, Hunan, China, 10/20–10/22/2023. There were 86 papers presented in 26 topical areas. In addition, an MS and PhD Research Forum was held concurrently with 36 papers presented by MS and PhD candidates in mining engineering from 8 schools. The conference plays an important role in cultivating advanced degree student talents. In this paper, all 559 papers reviewed previously were summarized. In addition, the 42nd ICGCM China is used to illustrate the current and future development trends of coal mine ground control in China. It summarizes the 122 papers (including 36 MS and PhD forum papers) grouping into, and in terms of, 26 topical areas. In addition, its unique and innovative subject areas, short summary of developments as well as conference strengths and shortcomings will also be presented.

Jun 25, 2024

By David White

This paper is the result of a comparative study of ultimate coal analyses made and published by the United States Geological Survey. This study, at first casually undertaken to devise an acceptable classification of coals based on chemical analyses, was continued in connection with a microscopic examination of a number of the coals. The initial comparisons, made from a relatively small number of analyses, not only confirmed a previous conviction that the elimina- tion of oxygen incident to the development of a coal is economically far more important than has been generally suspected, but also showed that oxygen is very nearly as harmful as ash in coal. The immediate purposes of the present study were: (a) To deter- mine more definitely, from a comparative examination of a large number of ultimate analyses, the relative importance of oxygen as an impurity in various coals; (b) to illustrate the transition between various grades of coal of similar origin-transition mainly due to progressive devolatilization, brought about more or less directly by dynamic influences; (c) to ascertain the relative proportions of oxygen, hydrogen, and carbon in coking coals, especially with refer- ence to a theory tentatively framed to explain the coking quality; and (d) to forecast the probabilities of successfully treating a large number of coals so as to render them amenable, in a softened condition, to satisfactory study under the microscope. Although the hypothesis as to coking quality finds but partial support in the chemical analyses, its consideration has led to a method of predicting from an analysis with a fair degree of certainty whether any given coal will coke by the ordinary process. The unbroken transition between coals originally similar but now classed in widely different groups, whether of the same age or of different ages, as a result of dynamochemical action, appears demonstrated by the analyses as well as by field observation. This subject will not be

Jan 1, 1911

By Charles H. Rich

This Bureau of Mines report is an expansion and update of Information Circular 8719 and comprises maps and tables listing the name, location, and other pertinent data concerning certain fuel-related projects. The maps show the locations of the planned or proposed facilities. The tables include information on projects involving the proposed or planned development of fuel resources, as well as the development of storage, transportation, and conversion facilities. The report covers the 24 States west of the Mississippi River including Alaska and Hawaii. Of the 808 projects for which information is provided, 219 concern coal mines, 246 concern electric generating plants, and 115 concern uranium mines; Energy Supply and Environmental Coordination Act coal conversion notices are also included. Because of the dynamic nature of the energy industry, many uncertainties exist and some of the listed projects may never become realities. Also, no attempt has been made to determine the degree of certainty or viability of each project.

Jan 1, 1978

The latest resource estimate for the Caspiche gold/silver/copper project in the Maricunga region of Chile was released by gold explorer Exeter Resource Corp. The resource is low grade, but bulk minable and drilling to date has shown a NI 43-101 compliant inferred resource of 1,117 Mt (1.23 billion st) grading 0.55 g/t (0.016 oz/st) gold, 3.81 g/t (0.111 oz/st) silver and 0.22 percent copper. Exeter said these findings make the in situ metals amounts of 609 t (19.6 million oz) of gold, 4.4 kt (137 million oz) of silver and 4.84 billion lbs of copper, which the company relates as 33.7 million gold equivalent ounces using assumed metal prices of $23.33/g ($800/oz) for gold, 35 cents/g ($12/oz) for silver and $2/lb for copper. The deposit is almost midway between Barrick?s Cerro Casale gold deposit and Kinross? Refugio Mine. In a statement Exeter chairman Yale Simpson said ?This updated resource estimate places Caspiche firmly among the world?s largest gold-copper discoveries in recent years and clearly supports our decision to aggressively drill the property, despite the global economic decline. ?We expect that the very substantial copper and silver credits will be extremely important, and will markedly impact the potential viability of Caspiche. Specifically, using metal prices of US$2/lb copper, $23.33/g ($800/oz) gold and 35 cents/g ($12/oz) silver, the 4.84 billion lbs of copper and 4.2 kt (137 million oz) of silver are equivalent to 376 kt and 62 t (12.1 and 2 million oz) of gold, respectively. ?Our recent drilling has defined what appears to be a coherent higher grade central zone associated with a definable early stage diorite intrusion. We expect this zone will be important in developing various mining and economic models for the project,? Simpson said. Exeter is still drilling the deposit to expand the re-source estimate further to the southeast and at depth and to upgrade the higher grade central zone to the indicated category. Simpson said, ?Exeter intends to enhance the value of Caspiche by continuing to de-risk the project through ongoing exploration, metallurgy, engineering, water and environmental studies. These studies will continue through the next 12 months and will lead to a conceptual development study. A timeline for the release of that study is being formulated. The project budget for the next 12 months is C$14 million.? Mineweb reported that Caspiche is likely too big of a deposit and at too high of altitude for Exeter to handle alone. Exeter will be looking to other majors, or perhaps the Chinese, to help develop this huge orebody. But, in the meantime, it also has its high grade Cerro Moro deposit in Argentina, which could be brought to production relatively quickly and at relatively low cost.

Jan 1, 2009