Canada

Revel Ridge Project

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Categories

Overview

Mine TypeUnderground
StagePreliminary Economic Assessment
Commodities
  • Gold
  • Silver
  • Zinc
  • Lead
Mining Method
  • Longhole open stoping
  • Sill mining
Backfill type ... Lock
Mine Life... Lock
SnapshotRevel Ridge Project - One of the largest undeveloped precious and polymetallic deposits in BC.

The 2023 Revel Ridge PEA considers an underground mine with on-site treatment of the mined material by particle sorting followed by conventional milling, and flotation to produce separate lead and zinc concentrates for sale to third-party smelters, in combination with on-site treatment of refractory gold concentrates to produce gold-silver doré. The mine will comprise an owner-operated, ramp developed, long hole stope underground mine.

Owners

SourceSource
CompanyInterestOwnership
Huakan International Mining Inc. 100 % Direct
Mineral tenure ownership is currently registered to Huakan International Mining Inc.

Rokmaster Resources Corp. had an exclusive option to earn a 100% interest in the Property. On April 9, 2024, Rokmaster Resources Corp. terminated the Option Agreement.

Contractors

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Deposit type

  • Vein / narrow vein
  • Stratabound
  • Orogenic
  • Carbonate hosted

Summary:

Deposit Types
The Revel Ridge Property area contains two distinctly different styles of mineralization: (1) highly planar, arsenical- and Au-rich, structurally controlled polymetallic sulphide zones and with no definitive host rock association, exemplified by the RRMZ ; and two Ag-Zn-Pb deposits hosted only in marbleized and silicified limestone units, exemplified by the RRYZ.

RRMZ – Structurally Controlled Orogenic Au Deposit
Most of the Revel Ridge technical data suggests that the RRMZ is an orogenic Au deposit. The RRMZ deposit is best represented as an orogenic Au deposit and as such, is one of the largest undeveloped Au deposits of this type within the western Canadian cordillera.

RRYZ Ag-Pb-Zn Occurrence – Deposit Model
At Revel Ridge, the second style of mineralization is associated with Ag enriched Zn-Pb deposits. Two deposit models have been used to describe Pb-Zn deposits in the northwestern portions of the Kootenay Arc, such as: (1) Shuswap Metamorphic Complex Pb-Zn Deposits; and (2) Kootenay Arc Carbonate Replacement Deposits.

Mineralization
At Revel Ridge, two main styles of mineralization have been documented: (1) a structurally controlled orogenic goldpolymetallic deposit; and (2) a silver-zinc rich carbonate hosted replacement deposit. The bulk of the economic resource within this deposit is hosted by the orogenic gold-polymetallic deposit, or the RRMZ.

Additional mineralized zones are principally mineralogic and spatial variations on the RRMZ, namely the RRHZ, RRFZ and RR28Z. Significant differences in mineralogy and deformational history suggests that the carbonate hosted silver-zinc-lead rich RRYZ did not developed contemporaneously with the RRMZ. Both the RRMZ and RRYZ have significant potential for expansion.

Revel Ridge Main Deformation Zone
The RRMZ is a structurally controlled orogenic precious and polymetallic (Au-Ag-Pb-Zn-As) deposit. The deformation zone that hosts the RRMZ has been traced along strike for >8 km and down-dip for at least 1,200 m. The deformation zone is effectively a mylonitic shear zone with a dominantly reverse and sinistral movement history. The zone has an average dip direction of 052°/58°. Mineralization occurs over an average true width of approximately 2.5 m.

As is characteristic of most near ductile strain and mylonitic deformation zones, discrete discontinuities and gouge surfaces are only locally developed along the footwall or hanging wall contacts of the zone. The definition of the boundaries of the deformation zone is based on the interpretation of enhanced planar strain fabrics, enhanced millimetre to centimetre scale quartz and sulphide lamella, and a slight discordance in dip between the Footwall and Hanging wall Contacts. The deformation zone Hanging Wall contact is commonly 5º to 10º steeper than the Footwall contact. The deformation zone differs in strike from individual units by approximately 5º to 10º and is commonly 3º to 5º steeper than the dip of the enclosing stratigraphy. The deformation zone is well developed at major lithologic contacts, for example at limestone/quartzite and quartzite/phyllite contacts. The zone appears to narrow and tighten in incompetent black argillaceous phyllites or in the interiors to massive limestone units. Although a significant percentage of gold in the RRMZ is contained within arsenopyrite, the volume of free gold in sheeted quartz veinlets is significant, and may be zoned with respect to elevation.

Within the RRMZ, folded sulphide bands and aggregates commonly re-emerge past their closure points; however, the walls of the deformation zone are not folded. These observations suggest that much of the intense deformation within the shear zone is constrained within the planar boundaries of the shear zone. This feature is a critical attribute of the Revel Ridge deformation zone and suggests that intense, non-coaxial deformation occurs in the interior of the deformation zone, but the overall boundaries of the deformation zone remain highly planar. Consequently, the RRMZ mineralization may be very reliably and successfully targeted with diamond drill holes using broad step-out distances.

Three styles of mineralization are associated with the RRMZ:
1. Early mineral quartz veins. Both in drill core and in underground workings, white quartz veins locally containing moderately coarse-grained black sphalerite occur throughout the Revel Ridge Mine area. The veins appear to boudinaged and embayed into fine-grained massive sulphide bands and appear to pre-date them.
2. Syn-mineral banded massive to semi-massive sulphides – main stage mineralization. Massive sulphide bands consisting of compact grains of arsenopyrite, red-brown sphalerite, pyrite and minor galena form the dominant sulphide phases and are one of the principal hosts to gold mineralization, and higher-grade gold mineralization. Massive sulphide bands range from a few centimetres to decimetre wide and may continue for tens of metres unabated.

3. Sheeted quartz – sulphide veins and veinlets. Narrow, cm- to mm-scale quartz-sulphide veinlets are noted throughout the RRMZ. These veinlets formed parallel to the dominant shear fabric and may contain sphalerite, arsenopyrite and pyrite along their margins.

Revel Ridge 28 Zone (RR28Z)
The Revel Ridge 28 Zone is an unusual, mineralized zone that typically occurs between the RRMZ and Footwall mineralized zones. The RR28Z is known largely from information in the extreme southeastern portions of the Revel Ridge Deposit. This zone is well exposed in the terminus face of the original 830 drift and in drill holes RR21-25, RR21- 28, RR21-28a, RR21-28b, and RR22-94. Individual drillhole intersections of the RR28Z are on the scale of 5-10 m in width, although continuity between drillholes at this stage appears to be limited. The RR28Z Zone has not been modelled for Mineral Resource purposes, therefore width, legth and continuity are uncertain.

Revel Ridge Hanging Wall and Foot Wall Zones (RRHZ – RRFZ)
Although not always encountered, RRMZ mineralization may by sometimes be flanked on both the Hanging Wall and Footwall positions by structurally controlled mineralized zones that approximately parallel it. Both zones are typically characterized by sheeted millimetre- to centimetre-scale quartz sulphide veins and quartz-iron carbonate veins and veinlets.

Revel Ridge Yellowjacket
The RRYZ mineralized zone (RRYZ) differs radically from all other styles of mineralization documented at Revel Ridge.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in conc./ doré koz 1,320
Silver Payable metal koz 94010,716
Silver Metal in conc./ doré koz 12,141
Zinc Concentrate kt 367
Zinc Payable metal M lbs 33372
Zinc Metal in concentrate M lbs 481
Lead Payable metal M lbs 20224
Lead Concentrate kt 225
Lead Metal in concentrate M lbs 254
Gold Equivalent Payable metal koz 1581,795

Operational metrics

Metrics
Daily ore mining rate  ....  Subscribe
Daily processing capacity  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2023 study.

Production Costs

CommodityUnitsAverage
Cash costs Gold USD  ....  Subscribe
All-in sustaining costs (AISC) Gold USD  ....  Subscribe
Assumed price Lead USD  ....  Subscribe
Assumed price Zinc USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2023 study / presentation.
** Net of By-Product.

Operating Costs

Currency2023
UG mining costs ($/t milled) CAD 82.7 *  
Processing costs ($/t milled) CAD  ....  Subscribe
G&A ($/t milled) CAD  ....  Subscribe
Total operating costs ($/t milled) CAD  ....  Subscribe
* According to 2023 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
Closure costs $M CAD  ......  Subscribe
Total CapEx $M CAD  ......  Subscribe
UG OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 833
G&A costs $M CAD 41.6
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EBITDA (LOM) $M CAD  ......  Subscribe
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After-tax Cash Flow (LOM) $M CAD  ......  Subscribe
Pre-tax NPV @ 5% $M CAD  ......  Subscribe
Pre-tax NPV @ 10% $M CAD  ......  Subscribe
Pre-tax NPV @ 8% $M CAD  ......  Subscribe
After-tax NPV @ 5% $M CAD  ......  Subscribe
After-tax NPV @ 10% $M CAD  ......  Subscribe
After-tax NPV @ 8% $M CAD  ......  Subscribe
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Heavy Mobile Equipment

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AV - Autonomous

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 29, 2023
....................... Subscription required ....................... Subscription required Subscription required Dec 29, 2023

Total WorkforceYear
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Aerial view:

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