Abametales, SA de CV Announces Mining Activity in New Brunswick, Canada

New Brunswick, Canada (PRWEB) January 01, 2014

Abametales, SA de CV, announces that it is actively searching for an investment partner or principal, Apocan Inc. up for sale. Apocan Inc. is known primarily as an antimony resource, and sometimes known as the Lake George Antimony Mine, New Brunswick, Canada. Apocan’s mining lease covers 655 hectares or 6.55 square kilometres located minutes from the 4-lane Trans-Canada highway and less than a two-hour drive to the year-round seaport of Saint John, New Brunswick.

The Lake George antimony mine has operated intermittently since first discovered in the mid 1800’s, and most recently under the name of Apocan Inc in late 1996 early 1997. From 1860 to the present, the Lake George Mine has yielded some two million tonnes of stibnite ore, including 1.4 million tonnes extracted during 1972 through 1997. Typical concentrate grades of 65% to 66% Sb at around 90% recovery with minimal lead and arsenic were consistently achieved during this latter period. The existing concentrator typically processed 500 dry metric tonnes per day of run of mine ore during the latter years.

The deposit, accessed from a 33 degree inclined shaft to a vertical depth of some 350 metres, was mined historically by room and pillar methods. During 1989, the shaft was extended to include a 12th level which remains only partially developed due to cessation of operations caused by sensitivity to metal pricing below US$1000 per tonne. The underground workings are well developed on 11 levels and primed for exploitation at the current price of US$10,000 per metal tonne.

A December 2013 geological audit and resource estimate describes an Indicated and Inferred resource of 1,529,378 short tons (1,387,436 tonnes) of 2.32% Sb at a cut off grade of 1% Sb, and an Indicated and Inferred resource of 926,303 short tons (840,333 tonnes) of 3.04% Sb at a cut off grade of 1.5% Sb.

Minesite infrastructure includes tailings storage, shaft house and head frame, hoist room, on-site weather protected storage of drill core dating from late 1960’s to late 1980’s, 500 tonne per day mill and crushing plant buildings and equipment, electrical sub-station on NB Power Grid (may require upgrading), administration building, warehouse, surface and underground maintenance facilities, and an outdoor concrete loading dock. Prior minesite operations drew from an abundant local labour supply.

The site is currently on care and maintenance and Apocan Inc. has just completed replacement of aging core racks in order to preserve historical drill core which is the geological storybook of the property.

As a final note, although tungsten and molybdenum have not been specifically targeted as part of the Apocan mineralization, the deposit model at Lake George is geologically a member of a spectrum of mineral deposits in which scheelite is associated with broadly equivalent or lesser amounts of molybdenite.

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