Gibraltar, Placer’s New Orebody, Comes on Strong

Canada's newest low-grade porphyry copper mine, Gibralter Mines Ltd. (N.P.L.), has reached production. The subsidiary of Placer Development Ltd., located at Williams Lake in the Caraboo District of central British Columbia, began open pit mining in mid-June on reserves estimated at 358 million tons assaying 0.373r: Cu and 0.016C; MoS,. Each of four separate zones will be mined in a predetermined sequence, in one or more stages, and with a throughput of more than 36,000 tpd. The sequence and stages of mining the zones have been determined by computer calculation and economic analysis and are designed to maximize recovery and minimize cost. At the very least, the mine is off to a promising start. Development costs leveled off at $67 million. 9'; below the anticipated budget.