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United States
Pickett Mountain Project

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 Location:
15 km N from Patten, Maine, United States

  Project Contacts:
1100 Russell Street
Thunder Bay
Ontario, Canada
P7B 5N2
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Copper
  • Lead
  • Zinc
  • Silver
  • Gold
Mining Method
  • Alimak
  • Longhole stoping
  • Cemented backfill
Mine Life9.7 years (as of Jan 1, 2020)
Located in Penobscot County of northern Maine, U.S.A., the Pickett Mountain VMS deposit is one of the highest grade undeveloped polymetallic massive sulphide deposits in North America.


Owners

Source: p. 2
CompanyInterestOwnership
Wolfden Resources Corp. 100 % Indirect
The proposed mine project is located on a 528.2-acre parcel within a 7,145-acre tract of privately owned land owned by Wolfden Mt. Chase LLC, a wholly owned subsidiary of Wolfden Resources Corporation.

Contractors

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Deposit Type

  • VMS
  • Hydrothermal


Summary:

Deposit Type
VMS deposits are the product of hydrothermal vents on the sea floor that form syngenetically with active volcanism and/or plutonism. They form at or just below the sea floor as a product of the discharge of high temperature, seawater-dominated hydrothermal fluid. There are six main elements typically present and are considered essential for the formation of VMS hydrothermal systems and their associated base metal deposits.

This deposit type is typically an accumulation of massive to semi-massive sulphides that are syngenetic, stratabound, and in part strataform. They usually consist of two parts: a concordant massive sulphide lens and an underlying discordant vein-type sulphide stringer or stock-work zone that is within a footwall alteration zone. In some cases, the stringer zone extends into the hangingwall as well, which appears to be the case at Picket Mountain. This continuation of the stringer zone into the hangingwall may indicate the continuation of the hydrothermal system and could represent additional exploration opportunities.

VMS deposits typically form in a diverse spectrum of volcanic-sedimentary environments that range from those dominated by flow, volcaniclastic, and or sedimentary rock types. Any of the three end members may be dominant, but what is characteristic for exploration purposes are the overall characteristics listed above.

Mineralisation
The mineral zone at Pickett Mountain is a volcanogenic m ........


Mining Methods

  • Alimak
  • Longhole stoping
  • Cemented backfill


Summary:

Two mining methods will be employed at Pickett Mountain. The West Zone is narrow and high-grade and will utilise an Alimak mining methodology. Alimak stopes will be 100m high in the upper part of the West Zone and increase to 125m high below the 5150 level. In the wider areas of the East Zone, below 5145 elevation, a longhole mining method will be employed utilising 6-inch blastholes with stoping at 50m vertical spacing. Both methods will employ a primary/secondary mining sequence.

Mining horizons would be developed on each main level (5350, 5250, 5150, 5025, 4900, 4775, 4650, and 4600 levels) Each Alimak vein stope would be 20m along strike with 1 drawpoint per stope in the centre, from the footwall drift.

An undercut over the full width and length, on the lower main level of the potentially economic mineralisation block, would be developed. An Alimak raise would be driven in the centre of a stope from the undercut to the level above the stope. The raise would be screened over its entire length to facilitate drillers working in the raise. Cable bolts would be installed into the hanging wall of the stope, from the Alimak platform in the raise, to support the hanging wall. The Alimak installation would be left in the raise and a longhole ring drill installed on the work platform of the Alimak. The longhole drill would drill 70 mm horizontal drill holes (approximately 8.5m in length) parallel to the footwall and hanging wall of the potentially economic mi ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper t 3,86036,305
Lead t  ......  Subscription required  ......  Subscription required
Zinc t  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Mining scale, tpd  ......  Subscription required
Processing scale, tpd  ......  Subscription required
* According to 2020 study.
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Reserves at November 17, 2021:
Indicated and Inferred Mineral Resource Estimates at 7% Zinc Equivalent cut-off.

CategoryTonnage CommodityGrade
Indicated 2,724,000 t Copper 1.22 %
Indicated 2,724,000 t Lead 3.83 %
Indicated 2,724,000 t Zinc 8.91 %
Indicated 2,724,000 t Silver 97.2 g/t
Indicated 2,724,000 t Gold 0.8 g/t
Indicated 2,724,000 t Zinc Equivalent 17.72 %
Inferred 3,593,600 t Copper 1 %
Inferred 3,593,600 t Lead 3.83 %
Inferred 3,593,600 t Zinc 9.27 %
Inferred 3,593,600 t Silver 105.4 g/t
Inferred 3,593,600 t Gold 0.7 g/t
Inferred 3,593,600 t Zinc Equivalent 17.65 %

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Lead USD  ......  Subscription required&nbs
Assumed price Zinc USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.

Operating Costs:

Units2020
UG mining costs ($/t milled) USD 47.7 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
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2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of September 14, 2020:
HME TypeSizeQuantity
ANFO Loader ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2020
....................... Subscription required ....................... Subscription required Subscription required Sep 14, 2020
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Management Discussion & Analysis 2022
................................... Subscription required 2021
................................... Subscription required 2020
Subscription required - Subscription is required.

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