Burnstone Ventures has declared that the 2012 drilling campaign has been started at the Tomichi porphyry copper-molybdenum project, located in south-central Colorado.
In addition, the 2012 campaign will outline and extend the high-grade shallow and popular mineralization area. The company will compile the samples for metallurgical testing. The results received from the 2012 metallurgical testing and drill campaign are significant phases towards the conclusion of a 43-101 compliant economic assessment.
According to Burnstone Ventures’ CEO and President, Doug Fulcher, the company is delighted to move the drilling rig to the property. This is the initial drilling program of the company at the Tomichi project. Burnstone is expecting this program’s results to increase the resource estimation and to improve the overall economy of the deposit. ALS Labs will be contracted to perform the metallurgical work and Burnstone will discuss with the engineering companies to complete an initial development study and associated economic model.
Recently, Burnstone again logged and assayed 22 historic holes out of 26. The recent assay results together with previous assays were specifically utilized to calculate the project’s initially published NI-43-101 mineral resource.
Geosim Services’ Ronald Simpson completed the resource calculation. The resource includes 2.5 Blbs of copper, 552 Mlbs of molybdenum, 30 Moz of silver, 320,000 oz of gold, 124,362 kg of Rhenium, or 5.6 Blbs of copper equivalence in the Base Case scenario.
Burnstone has an option to get a 100% interest in the Tomichi porphyry project situated in south-central Colorado. This project lies in the Colorado mineral belt and was worked initially by Climax Molybdenum and recently by Molycorp. Due to fractured land ownership, work has not been conducted since the drilling campaign in 1982.