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Canada
Galore Creek Project

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 Location:
372 km NW from Smithers, British Columbia, Canada

  Project Contacts:
3851 Broadway Ave
Smithers
British Columbia, Canada
V0J 2N3
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StatusCare and Maintenance
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life17.6 years (as of Jan 1, 2011)
The Galore Creek Project is currently in care and maintenance, managing environment, social and permit conditions. However, in 2016 and 2017, the joint venture partners increased funding to the project to preserve drill core, upgrade and improve the camp facilities, and manage environmental and social obligations in anticipation of an improved copper and gold price environment.


Owners

Source: p. 36
CompanyInterestOwnership
Teck Resources Ltd. (operator) 50 % Indirect
Newmont Corp. 50 % Indirect
The project is owned by the Galore Creek Partnership, a 50/50 partnership between Teck and Newmont Corporation (Newmont), and is managed by Galore Creek Mining Corporation (GCMC), a wholly owned subsidiary of the Galore Creek Partnership.

Contractors

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Deposit Type

  • Porphyry
  • Breccia pipe / Stockwork
  • Vein / narrow vein


Summary:

The Galore Creek property is interpreted to be an example of an alkalic porphyry copper–gold–silver system.

The Project is situated within the Stikine Terrane, an exotic terrane accreted to the ancestral North American craton. A sequence of Permian, Mississippian and Devonian age calc-alkaline and bimodal flows and volcaniclastic rocks, interbedded carbonate and minor shale and chert, termed the Stikine assemblage, form the basement of the terrane. Unconformably overlying the Stikine assemblage is a succession of Lower to Middle Triassic sedimentary and upper Triassic volcanic rocks.

The Galore Creek Syenite Complex, of Tertiary age, is centered in the west fork of Galore Creek and is 5 km in length and 2 km in width. The deposits are hosted by potassium-enriched volcanic rocks and pipe-like breccias adjacent to syenite stocks and dykes. They are manto-shaped, and trend north to northeast, following either, or both, syenite contacts and structural breaks. To date, 14 deposits and prospects have been identified, five of which, the Central Zone, Southwest Zone, Junction Zone West Fork Zone and Middle Creek Zone are of economic interest.

Disseminated pyrite is the most abundant sulphide mineral. Chalcopyrite and bornite in the ratio 10:1 are the main copper minerals. Sphalerite and galena are associated with garnet-rich areas and trace amounts of molybdenite, native silver, native gold and tetrahedrite have been noted (Allen, 1966). Magnetite oc ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The proposed Project will be a conventional, large-tonnage, open-pit operation with approximately 528 Mt of ore processed over the life-of-mine, at a nominal daily throughput of 95,000 t/d.

The mine plan for Galore Creek deposits was based on mining six separate phases that were developed from detailed designs based on optimized WhittleTM pit shells for four open pits, at Central, Junction, West Fork, and Southwest.

The production schedule contains one year of pre-production and envisages a mine life of 17.6 years, exclusive of that pre-production year. Annual mine production of ore and waste will peak at 136 Mt/a with a LOM waste/ore stripping ratio of 2.16-to-1.

The mine sequence for Galore Creek deposits is based on mining the six separate phases. The three-phase Central pit is scheduled to produce ore throughout the mine life with the satellite, Southwest, West Fork, and Junction pits supplementing ore production at various stages of the mine life. The Southwest pit will begin production at the start of the schedule to take advantage of lower waste stripping requirements and higher grades. The Southwest pit is also located south of the dendritic water flow allowing additional time for water diversion measures to be implemented. Mining of the Junction pit will begin later in the mine life, as it is located in a higher, more operationally challenging, area. Mining in the Junction pit will occur after mine operations have had several years o ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper k lbs 322,0005,950,000
Gold koz  ......  Subscription required  ......  Subscription required
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as payable metal.

* According to 2011 study.

Reserves at December 31, 2021:

CategoryTonnage CommodityGrade
Measured 256,800 kt Copper 0.72 %
Measured 256,800 kt Gold 0.36 g/t
Measured 256,800 kt Silver 5.8 g/t
Indicated 846,700 kt Copper 0.39 %
Indicated 846,700 kt Gold 0.23 g/t
Indicated 846,700 kt Silver 3.7 g/t
Inferred 198,100 kt Copper 0.27 %
Inferred 198,100 kt Gold 0.21 g/t
Inferred 198,100 kt Silver 2.6 g/t

Commodity Production Costs:

Commodity
Credits (by-product) Copper -1.04 / lb *  CAD
Cash costs Copper 1.83 / lb *  CAD
Cash costs Copper 0.79 / lb *†  CAD
Assumed price Copper 2.5 / lb *  USD
Assumed price Silver 16.9 / oz *  USD
Assumed price Gold 1,050 / oz *  USD
* According to 2011 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2022
OP mining costs ($/t mined) CAD 6.7 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2011 study.
Subscription required - Subscription is required.

2011 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 3,041
Refining costs $M CAD  ......  Subscription required
Freight costs $M CAD 640.2
G&A costs $M CAD 385.4
Total OpEx $M CAD  ......  Subscription required
Mining Taxes $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 7% $M CAD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
Source: Subscription required


Proposed Heavy Mobile Equipment as of August 12, 2011:
HME TypeSizeQuantity
Dozer (crawler) ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 26, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2011

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2020
Year-end Mineral Reserves 2018
Annual Information Form 2017
Annual Report 2015
Pre-Feasibility Study Report 2011
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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