With the Provincial Mine Rescue Competition in Revelstoke this Saturday, the Times Review decided to look into one of the more active exploration projects going on in the area.
Aside from the MAX Mind at Trout Lake, there are no active mines in the direct Revelstoke area but exploration results at a property near Carnes Creek north of town are showing promising results, says the head of exploration for the mining company.
“It’s all very favourable and we’re looking to do other phases of drilling and underground tunnelling this year – we’re not sure when,” said Paul Cowley, the vice-president of exploration for Huakan International Mining, the owners of the property. “We like the project, we think its good value.”
Huakan recently released a new mineral resource estimate showing deposits of gold, silver, lead and zinc at the Carnes Creek property, know as J&L Polymetallic project.
Cowley said the property is the company’s flagship property and they are at an advanced stage of exploration. Still, he added, Huakan is still four to five years away from actually doing any mining at the site.
“Our aim is to put it into production some time in the future but there are several steps still in front of us,” he said.
Those include a pre-feasibility study to determine the economic viability of the mine. If that passes muster, Huakan would look for financing to start mining and would also begin the government permit process.
Cowley said the company is encouraged by what it has seen so far at the J&L property.
“It’s a good strong metal value on a per-ton basis,” he said.
Huakan purchased the property in 2007 and did some exploratory work in 2008. It wasn’t until November 2010 that exploration began in earnest.
Cowley said rising metal prices played a role in resuming exploration. “Costs are rising as well but not as much as the gain in metal prices,” he said. “That’s a big advantage.”
Mining has a rich history in the Revelstoke area dating back to the gold rush of the late 1860s, when thousands of miners flocked to the area hoping to strike it rich.
Should the mine open, it would mark the most significant development in that industry around Revelstoke in a number of years.
“It’s not like the big copper mines near Kamloops but it would be a significant underground operation,” said Cowley.
