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By T. R. Ellis

The vast majority of valuations produced for mineral properties using the net present value method provide an estimate of Investment Value or Use Value. Such an estimate can be a long way from the price that the property would sell at if placed on the market. Indicators from the market need to be used to validate or modify the net present value calculation. The comparable sales and replacement cost approaches used in the appraisal of urban buildings generally fail us in the appraisal of mineral properties. Other methods of sales analysis are introduced. Guidelines for what a minerals appraisal report should contain are presented.

Jan 1, 2000

By Dexter C. Hatch

At MacIntyre Development of the National Lead Company, Taha s, New York,, the flotation plant was set up to recover ilmenite from the finer size fraction of the ore that cannot be efficiently treated in the main gravity-magnetic separa¬tion process. It was later expanded to handle the reground middlings from the tables wetherill magnetic separators. The ilmenite-magnetite ore is ground to minus 20 mesh in five 6 x 12 ft. rod mills in closed circuit with DSM screens. The minus 20 mesh screen undersize is pumped to four parallel sections each consisting of two rougher wet-magnetic separators and one cleaner separator for magnatite removal. The screen undersize from the fifth section is distributed to all four sections. The magnetite removed in the roughers is pumped back to the cleaners and the cleaner magnetite is dewatered in rake classifiers and carried by belt to the winter plant or the stockpile area. The nonmagnetic sands from rougher and cleaner magnetic separator are sized for table feed in eight pocket hydraulic sizers. The slime overflows from the Crocketts, the sizers, and the magnetite rakes are collected and pumped to three-inch cyclones for thickening and desliming. The cyclone underflow is the principal flotation plant feed.

Jan 1, 1962

By Ronald R. Rose

Currently six economic heavy mineral deposits are known on the Penholoway Terrace. These are (from south to north) the Green Cove Springs Mine (GCS), Boulogne Mine, Folkston Mine, Mission, Lulaton, and Ludowici. The GCS deposit is located to the west of Highway 17 between the towns of Green Cove Springs and Palatka in the state of Florida and has been mined since 1972. To the north, the erosion created by Black Creek restricts the northern extension of the orebodies and to the south a karst depression and erosion by the St. Johns River restrict southern extensions. The deposit is 20 miles long and up to 4.5 miles wide. Deposit thickness is from 5 feet up to 45 feet. The deposit is a series of regressive barrier island sequences deposited during the Pleistocene along the ancient Penholoway and Wicomico shorelines. The initial transgression of the ocean up to the location of the western Henry orebody was an extensive sea-level still stand as evidenced by the unit thickness and stacked transgressive regressive sequences. This period was followed by sporadic regressing seas and still stands, progressing eastward and stranding the sand bodies which make up the East Extended, TE, and East TE Ridge orebodies. The orebodies are underlain by predominantly non-mineralized fluvial sands and occasional back barrier lagoonal deposited clays. There is a predominance of wetlands on the southern extents of the zone as the surface elevations decrease due to a large karst depression.

Jan 1, 2005

By P. Amelunxen

Over the past several years, the combination of higher energy and steel costs and the recent commercial deployment of high-pressure grinding rolls (HPGR) technology in hard rock mining have led many multinational mining companies to evaluate the suitability of HPGR technology for their particular comminution circuits. HPGR technology is perceived to require a higher capital investment while delivering lower long-term operating costs. This paper undertakes a critical evaluation of this perception. By evaluating the capital and life-of-mine operating costs of competing circuit designs for soft, medium and hard ores, the HPGR break-even point can be identified, at which the incremental capital cost of an HPGR circuit is equivalent to the net present value of the projected operating cost reductions. For ores with hardness parameters above the break-even point, HPGR circuits could offer economic benefits, while for softer ores, SAG mill/ball mill/pebble crushing (SABC) circuits are likely to be more economical and energy efficient. This evaluation considers both an SABC reference circuit and a traditional stage crushing configuration. Other influential factors are also discussed.

Jan 1, 2011

By N. Arbiter

The theoretical analysis of tumbling mill energetics and performance has largely neglected mill dimensionality, and, in particular, the importance of the length/diameter ratio. This is in spite of the fact that practice varies substantially in this area: geographically, for semi-autogenous and autogenous mills, as between North America and South Africa/Scandinavia; historically, for overflow ball mills, for which the L/D ratio has increased significantly from the earliest small mills to/the largest mills currently. The present study is concerned primarily with the influence of the L/D ratio on the design and operation of overflow ball mills; on the occurrence of the overload phenomenon; and on the limits, if any, it may impose on mill capacities because of critical pulp axial velocity limits. It will be shown that the shape face or is of major importance in this area; and that its adjustment to the extent that this is practical should remove the diameter limitations previously postulated for this mill type.

Jan 1, 1990

By S. A. Shuey, P. Taylor

The recycling of electronic waste (e-waste) tends to be a rather complex undertaking when considering the intimate bonding of materials in the average printed circuit board. The development of a recycling process is further complicated when considering the wide variety of products being generated under the heading of “electronics” as well as the constant change in materials of construction coupled with the speed at which electronics are changing. CSM researchers have undertaken a survey of the current state of pyrometallurgical processing of e-waste. This base-line will set the stage for the development of new recycling technology at CSM.

Jan 1, 2004

By Xie Longshui

INTRODUCTION The gold production is from the state-owned gold mines, the local gold mines and the by-product of metal mines. Since 1975, the small gold mines have developed in rapid strides. Currently, there are about 3000 small gold mines in China. Most of them are operated by the local, and the production is about 50% of China's gold output. In the small gold mines, the normalized mining equipments are employed at most of mines, but some mines still use such backward tunnelling and mining tools as pick, shovel and hand hammer etc.. The mining techniques have developed from the primitive to the advanced, especially the methods of open stope, shrinkage and filling have been widely used. Such new mining techniques as bolting, vibrating draw, non-electric ignition and diamond drilling etc. are also introduced in the wall gold mines. In recent years, the development of small gold mines is very fast under the guidance of new mining policy which is ' rapid and great development of large-sized mines, helping small mines to develop, and quick mining for the existing mines; and encouraging the collective and the individual to operate a mine.' GEOLOGICAL FEATURES The gold veins are dominant, which are divided into two types, ie. the mesothermal deposit with altered rock in a crushed zone and the hypothermal deposit with quartz veins. The orebody distribution is not centralized, and the size of deposit and single minable orebody is small respectively. Most of deposit dip at 30° to 50°, characterized by expansion and shrinkage, ramification and compound, thinning out and reappearance, separation and composite at the parallel veins etc.. The ore grade is variable, and the factor of grade change is above 100%. The waste zones with lean or submarginal ore usually exist in deposits. As for the gold deposits with altered rock, the ore boundary is indistinct. Most of gold deposits, particularly the gold deposits with altered rock, are intruded by the late structural rock, thus the faults and joints are developed, and the rock and ore are crushed, especially the host rock of roof wall is very crushed. It ie obvious that the conditions of both formation of deposit and mining are considerably complicated. HISTORY With a long mining history and rich experiences, the local gold sectors are small, but they play an important role in China's gold mining industry. Dated from Xia and Shang Dynasty, the gold goods was made. In the Tang Dynasty, the development of gold mining industry was very fast. A Chinese poem , written by Liu Yuxi -- one of famous poets in the Tang Dynasty, says: As sun is shining over Dengzhou land, The fog on river slowly goes away, The panning girls together meet at bay, The beauty's jewels and stamps of king are gold from river sand. This poem shows the local gold mining was flourishing at that time. In 1888, the local gold mining sectors were all the rage at the moment, and the annual output of gold was as high as 21.5 tons. Since the founding of New China, the development of local gold mining was subjected to several back- sets, but certain advances are made on the whole, especially since 1970. Round about 1970,the simple, backward and indigenous mining was dominant in the small gold mines; for instance, the hand-hammer drilling, the hand-operated winch hoisting and the hand haulage etc.were main methods of gold mining . Up until the late 1970s,great changes took place in stoping, haulage and so on. Currently, some advanced technology and large-sized equipments are adopted in the local gold mines. Generally, the local small gold mining sectors play an important role in development of China's gold mining industry, and are important and attractive sectors. PRESENT DEVELOPMENT

Jan 1, 1987

By S. Hamilton

Occurrences of boron-containing ores are relatively rare on a global basis. The first verifiable use of borax was in the 8th century by Arabian gold and silversmiths. Due to the rarity of the borate mineral occurrences, borates were originally traded at relatively high prices and were used for very specialized applications. Today, there are

Jan 1, 2006

By R. Patterson

Tracer gases have been utilized successfully in a variety of industries, each with specific releasing and sampling methods. The various attributes of tracer gases are dependent on the industry the tracers are utilized in. Tracers must be chemically and thermally stable, safe, odorless, detectable at low concentrations, have a low background concentration, and should not be naturally occurring in the environment if they are utilized in underground mining applications (Thimons et al., 1974). In addition, the tracer gas should be inexpensive, non-corrosive, non-toxic, easily transportable, readily attainable, and non-radioactive (Kennedy et al., 1987). Sulfur hexafluoride (SF6) met many of these above requirements and therefore was introduced as an ideal tracer gas to use in mining industry in the early 1970?s (Thimons et al., 1974). Due to the nature of underground mining including complicated geometry, irregular flows, turbulent flows, obstructed airways, and leakages it is difficult to use conventional anemometer and smoke tube techniques to accurately measure the effectiveness of ventilation controls (Thimons et al., 1974; Klinowski and Kennedy, 1991). There have been several applications of SF6 as a tracer gas in underground metal/non-metal and coal mines. Thimons et al. conducted early testing of SF6 in an underground limestone mine and determined that it is an effective technique for evaluating auxiliary fans, estimating volumetric flow rates in large areas, and measuring low flow velocities. A rapid face ventilation measurement method (FVM) utilizing SF6 was developed by the Bureau of Mines to make face measurements in underground coal mines (Timko and Thimons, 1982). When measuring the effectiveness of jet fans in dead headings SF6 was proven more effective than smoke tubes (Timko and Thimons, 1982). Experiments related to determining methane liberation in the gob were also conducted by injecting SF6 into a borehole (Timko and Thimons, 1982). Also, in an emergency situation where the gob had to be sealed due to a fire, SF6 was released to determine the effectiveness of the seals (Timko and Thimons, 1982).

Jan 1, 2011

By James G. McKelvey

Owners have seen several major tunnel projects in recent years fall victim to a general reduction in the number of bidders as well as an erratic range of pricing. It should be noted though that this is not a universal trend and some projects have seen good competitive bids. Contractual terms and conditions are an important factor in attracting good competition. The Front End documents of tunnel projects have come under increasing scrutiny as tunneling contractors in the U.S. industry are looking much more closely at their risk exposure in the contract terms and conditions. Considering the amount of tunnel construction work upcoming in North America, it is important that General and Special Conditions are put together in a way that provides a reasonable basis to execute the Contract and also provide a fair, balanced and swift way to resolve disputes.

Jan 1, 2008

By S. A. Abdel Sabour

Conventional methods for selecting a production plan for an open pit mine is based on the assumption that ore grades throughout mine life as well as market variables are known with certainty. Another important issue that is also being ignored in the conventional procedure is the value of management flexibility to revise operating policy with time according to the arrival of new information. Based on this oversimplification of reality, an optimum mine plan that is thought to be maximizing net present value (NPV) of the project is selected. Given the multiple sources of risk affecting the estimated NPV, there is a high probability that the actual value will be different from that estimated. This could mislead decision making process regarding selecting an optimum mine plan. This paper proposes a multi-criteria ranking system for selection between alternative mine designs under both geological and market uncertainties. The system is based on integrating multiple market and geological uncertainties as well as the operating flexibility to revise the ultimate pit limits using a Monte Carlo-based real options valuation (ROV) model. To compare the methods, the article applies the proposed system, along with the conventional NPV-based method, to rank possible mine designs for a copper and a gold mine. It has been found that, considering multiple risk analysis measures while integrating uncertainty and operating flexibility results in selecting a mine design that is different from that selected by the conventional method.

Jan 1, 2009

By Chunhui Zhang, Enton Bedini, Jiang Chen, Fengchao Yang, Hang Dong, Xiaoyan Chen

The alteration formed by the reaction of ore-bearing fluid and wall rock is often used as an important prospecting indicator, resulting in the dilution or enrichment of metals or related trace elements. A variety of rock-forming and metallogenic elements have been analyzed in regional stream sediments so that the relationship between the ore-bearing altered rock and the change in the geochemical elemental content can be obtained. Therefore, by using appropriate models, such as matched filtering, the abundance of the distribution of wall rock alteration, similar to the discovered deposits, can be modeled by using the distribution of geochemical elements in the region, and the areas with high distribution abundances are usually favorable prospecting targets. The alteration types related to gold mineralization in the Baiyun gold deposit are potassium feldspar alteration, silicification, pyritization, sericitization, and chloritization. In this paper, the geochemical data of the Qingchengzi ore field (1:200,000 and 1:50,000) have been used to form geochemical images through rasterization. In the three sections of the Baiyun gold deposit, binary-coded curves have been formed, revealing the differences in geochemical elements in stream sediments between altered rocks and the rocks surrounding the Baiyun gold mine. Among them, Au, W, and Mo are enriched elements, while Sn, Zn, and Hg are depleted elements. Several gold deposits are found in the predicted altered rock area by using the matched filtering method during fieldwork, which shows the effectiveness of the method.

Dec 30, 2023

By J. S. Meyer

Although salmonid fishes (including Pacific salmon and trout) have only intermediate sensitivity to copper (Cu) for traditional toxicity endpoints (survival, growth, and reproduction) and thus do not ?drive? the freshwater Cu criteria (e.g., see species-sensitivity ranking in US EPA 2007), Cu concentrations as low as 1 to 2 µg/L have been reported to impair olfaction (the sense of smell) in salmonids in laboratory experiments using dilute fresh water (see references in Meyer and Adams 2010 and DeForest et al. 2011). Olfaction is crucial to predator avoidance, recognition of kin, and reproductive synchronization (Baldwin et al. 2003); and Cu is of general ecotoxicological concern because it can be present in acid/mine rock drainage, industrial and municipal effluents, agricultural runoff, and urban stormwater runoff (Meyer et al. 2007). Therefore, there is public concern that the current regulation of Cu in surface waters is not stringent enough to protect salmonid fishes against olfactory impairment (e.g., OSU 2007; Pearson 2007). Because the toxicity of metals to aquatic organisms is a function of water chemistry [e.g., acute toxicity of Cu generally decreases as pH, water hardness (Ca2+ + Mg2+), alkalinity, and dissolved organic carbon (DOC) concentrations increase; Meyer et al. 2007], hardness-based freshwater criteria for metals are lower at lower water hardness. The recently-developed biotic ligand model (BLM) explicitly takes into account all four of those water chemistry parameters and the concentrations of other major inorganic cations (Na+, K+) and anions (Cl-, SO42-) to predict the acute toxicity of cationic metals (e.g., Ag, Cd, Cu, Ni, Pb, Zn) to aquatic organisms; and the BLM has been adopted by the U.S. Environmental Protection Agency (US EPA) to calculate acute and chronic national freshwater criteria for Cu (US EPA 2007). Consistent with observations of Cu toxicity to aquatic organisms, BLM-based Cu criteria generally are lower at lower pH, water hardness, alkalinity, and DOC concentrations. Therefore, although threshold concentrations for olfactory impairment by Cu can be low in dilute fresh waters, the corresponding hardness-based and BLM-based Cu criteria for the same waters also tend to be low. This leads to a logical question: Are Cu criteria already protective against impairment of olfaction in salmonid fishes, thus obviating the need to decrease those criteria even lower to protect against adverse effects to this physiological/ecotoxicological endpoint? Herein, we demonstrate that in all studies conducted to date, the US EPA?s BLM-based freshwater Cu criteria would have been protective against olfactory impairment in salmonid fishes, but the US EPA?s hardness-based criteria would not always have been protective. This distinction is important because all 50 States in the USA still use hardness-based Cu criteria in their water quality standards, and only some of the States allow use of the BLM to calculate site-specific Cu criteria. Additionally, in the absence of empirical results for calibration of a saltwater Cu-olfactory model, we demonstrate that a proposed unified freshwater-saltwater Cu-olfactory BLM predicts the US EPA?s current saltwater Cu criteria would be protective against olfactory impairment caused by Cu in sea water.

Feb 27, 2013

By David M. Stearns

Introduction Millions of tons of coal are shipped by rail each year in the US. Loading those trains efficiently is a topic being studied by coal producers and railroads. Alternatives range from volumetric loadouts to systems that weigh the product, using either belt conveyor scales, track scales, or weighbins. Each system has its proper application and each has pros and cons, depending on the volume, nature, and layout of the specific loading facility. In recent years, a batch weighing system has been developed that offers significant benefits to higher volume operations shipping by a unit train. The Unitrain Loadout System (ULS) features a precision electronic batch weighing system married to a mechanical loadout system by a microprocessor-based digital control system. A batch weighing loadout could be designed using analog electronics or even a mechanical weighbin. But it is the adaption and use of a microprocessor that provides the primary benefits of a unit train loading facility. Those benefits are accurate weight determination, optimum car use, overload prevention, speed in loading, optimum labor use, and documentation of the loading process. Unitrain History The first ULS was erected for iron ore applications in Canada during the 1960s. The first domestic system on coal was installed at Pittsburg and Midway Coal Co.'s McKinley mine at Gallup, NM, in 1978. At present, there are more than 20 Unitrain Loadout Systems in operation worldwide. They are loading minerals, concentrates, and coal. Eleven systems are presently in service or under construction in the US. In the last several years, a number of comparable systems have also been installed. As a result, the concept has been well proven and is now commercially available from several sources. Unitrain Operation The basic operation of a ULS involves loading a unit train with individually weighed batches of coal while it moves slowly under a loadout tower. Typical coal systems are designed to load at rates of 2.7 to 6.3 kt/h (3000 to 7000 stph). The contents of each car can be accurately weighed. This meets the requirements of the National Bureau of Standards Handbook No. 44 for static weighing. Also, cars can be loaded within very close tolerances. This optimizes railcar usage and prevents overloads. Principal components of the loadout system are the main feed conveyor, the surge bin, surge bin gates, weighbin, weighbin gate, flood loading chute, control room, calibration weights, and hydraulic and electrical systems (Fig. 1). Main feed conveyor: Coal is delivered from a storage area by the main feed conveyor. The conveyor fills the surge bin. It should be capable of conveying coal at the same rate at which it is being loaded. Usually the feed conveyor is equipped with a conveyor scale that can display rate in the control room and control feed to the belt. The surge bin will typically store 227 to 272 t (250 to 300 st) of coal. If the loadout is installed in an over-the-track silo, there is no need for a surge bin. Four double-bladed, hydraulically actuated gates are incorporated into the bottom of the surge bin. These gates open to fill the weighbin. Automatic pre-act points are selected by the control system. They shut these gates as the desired weight is approached. The final amount of coal is added by a single gate that closes. This results in a weighed batch of coal within ± 0.5% of the selected optimum load per railcar. Thus, if loading 91-t (100-st) capacity cars, the system is set to batch up 90.2 t (99.5 st) batches. Each car is expected to be loaded between 90 and 91 t (99 and 100 st). Weighbin: The weighbin is next in the flow scheme. Typically, it is

Jan 3, 1985

By J. Winterton

Cripple Creek and Victor Gold Mining Co. is developing a full-scale pad injection program as part of the overall operational plan for the Valley Leach Facility. As part of the development process the mechanics of the injection methodology are evaluated in the context of physical injection measurements, outcome from geophysical monitoring, and gold leaching theory. The results indicate that hydraulic fracturing analogies advanced heretofore do not accurately describe injection phenomena in unconsolidated and noncohesive material typical of leach pads. A new interpretation is presented and extended to define operational strategies for maximizing gold production.

Feb 27, 2013

By O. F. Brown

The use of quality materials (aggregates and asphalt binder) in optimal proportions is the key to producing optimally performing hot mix asphalt (HMA). The Superpave mix design standard in the US introduced specific volumetric and binder property requirements in HMA design. Different methods for HMA constituent proportioning have been proposed in various guidelines. The design process to determine the HMA blend is currently iterative and engineers rely almost exclusively on experience. This approach is time consuming and often does not result in cost-optimal HMA mixtures. This paper introduces a mixed integer linear programming (MILP) optimization model for hot-mix asphalt constituent proportioning. The MILP model minimizes the total mix cost while satisfying all the volumetric, binder and mix property specification requirements. The model has been successfully validated with real-life example. The aggregates and binder ratios from the model were in close agreement with those from the contractor. The Bailey ratios and the gradation constraints were also satisfied. The cost of the optimal mix was $0.804/Mg less than that of the contractors?. This marginal reduction might make all the difference in an industry that is highly competitive. The MILP model also demonstrated that adding RAP to the contractor?s design would reduce the cost of the blend by $5.74/Mg. The virgin binder content was reduced by 1% because of the recycled asphalt contained in the RAP. This work represents the first successful attempt in incorporating both aggregate and asphalt performance requirements into the optimization formulation. Applying these models will ensure the minimum cost mix that meets all constraints and will increase profit margins for plant operators.

Jan 1, 2012

By J. A. Murray

Maintaining satisfactory air quality in electrowinning tankhouses is problematic and costly, particularly as plant operating current densities have increased. Conventional approaches have not proved completely effective. These include the use of beads, hollow spheres, surfactants and coalescer devices. They require powerful ventilation systems to be installed. As workplace and environmental regulations become more stringent, containment of the acid mist at its source is more attractive. An electrode cap system based on this approach has been developed and tested in two commercial copper electrowinning tankhouses.

Jan 1, 1996

By Dennis A. Swyt

In current post-industrial America, U.S. manufacturing is undergoing major changes both in the technology of its production and in the size and composition of its workforce. At the same time that computers and robotics move the shop floor toward becoming the unmanned "factory of the future" [1], they increase the need within the overall production enterprise for new types of technicians and engineering professionals [2]. Based on previous works which examined, first, the evolution of the technology of manufacturing toward the flexibly-automated factory of the future and, second, the technical- professionalization of U.S. manufacturing sectors [1,3], this paper looks briefly at the workforce of the U.S. metals industry.

Jan 1, 1989

By Earl Rau

Introduction Will cogeneration be a major power source in the future? The location of electric power generating plants has changed. In 1900, more than 50% of electricity was generated by industrial plants. Since then, industrial plant generation of electricity greatly decreased to 17% in 1950 and to only 3% in 1980. Changing economics in electric power generating costs, though, may allow cogeneration to reverse this trend. Cogeneration has been defined as the simultaneous production of electric (mechanical) and thermal energy from a single energy source. Some applications are considered to be byproduct generation of electricity from industrial, thermal operations. Cogeneration is not new to the mining and minerals industry. Smelters and steel mills have used waste heat to generate electricity. Public Utilities Regulatory Policies Act of 1978 The potential for increased industrial cogeneration of electricity is related to the March 9, 1978 enactment of the Public Utility Regulatory Policies Act (PURPA). The US Supreme Court ruled that PURPA is constitutional. The court upheld requirements that utilities interconnect to cogenerators. It also ruled that 100% of avoided costs be used as the guideline for electricity sales by a qualifying facility (QF) to a utility. The state of New York established a floor price $0.06/kWh for electricity sales from a QF to a utility. It is obvious, then, that a cogenerator must first establish price and then become a qualifying facility in order to sell electricity to a utility. Proposed cogeneration plants The estimated industrial cogeneration potential for the years 1986 to 2000 is 9500 to 25,000 MW. Industries represented in this cogeneration estimate are pulp and paper, petroleum, chemicals, food, textiles, rubber, plastics, steel, lumber and wood, cement, glass, metal fabrication, and industrial parks. A cogeneration plant has been proposed for the Union Carbide chemical plant in Institute, WV. A steam turbine/generator would be installed to replace the pressure-reducing valve in the 2.7 MPa (400 psig) header. Scott Paper Co., Mobile, AL, proposed a cogeneration plant using a coal- and wood-fired boiler and a turbine/generator to produce process steam and electric power. A cogeneration system has been proposed for a large oil refining plant. A pulverized coal boiler would produce high-pressure steam to operate a turbine, generator. The exhaust steam from the turbine will go to the process and an existing turbine. Kansas City, MO's Armour meat-processing plant has proposed a cogeneration plant. This proposal is to use a natural gas or oil-fired, gas-driven turbine and a generator. The waste heat from the gas turbine would go to a heat recovery boiler for use as process heat. Dade County, FL is implementing a central energy system to supply electricity, air conditioning, and domestic hot water for five buildings in downtown Miami. The cogeneration system is to provide flexibility, to optimize fuel use efficiency while serving the variable thermal demands. Generation of electricity from municipal waste is not considered to be a cogeneration process but is covered by PURPA. Special considerations are provided for waste/electric power generation to encourage the development of these systems. ?

Jan 7, 1987

By M. J. Gregory

The Pebble Cu-Au-Mo deposit in southwest Alaska is one of the world's largest porphyry deposits. The western part of the deposit was discovered by Cominco America in 1987, who sold the project to Northern Dynasty Minerals Ltd., in 2001. Northern Dynasty discovered the high-grade eastern part of the deposit in 2004 and went into a 50:50 partnership with Anglo American PLC in 2007, forming the Pebble Limited Partnership (Lang et al., 2008). The Pebble Limited Partnership has continued to delineate the deposit through diamond drilling with the most recent resource estimate released in February 2010 (Pebble Limited Partnership, 2010). The Pebble deposit mineral resources comprise 5.94 billion tonnes of measured and indicated resources grading 0.78% Cu EQ, containing 55 billion pounds of copper, 67 million ounces of gold and 3.3 billion pounds of molybdenum. Also delineated are 4.84 billion tonnes of inferred mineral resources grading 0.53% Cu EQ, containing 25.6 billion pounds of copper, 40.4 million ounces of gold and 2.3 billion pounds of molybdenum (Pebble Limited Partnership, 2010). Resources are calculated using a 0.3% Cu EQ cutoff. GEOLOGY AND MINERALIZATION Deposit Geology The Pebble deposit is located in the Kahiltna terrane, between terminal strands of the north-east-striking Lake Clarke strike-slip fault. This fault represents an accretionary boundary and separates the Kahiltna terrane to the north-west from the Peninsular terrane to the south-east (Lang et al., 2008). The Pebble deposit represents a large magmatic-hydrothermal system centered on a group of 90 million year old porphyritic hornblende granodiorite intrusions. An east-west cross section through the southern part of the deposit (Figure 1A) shows the typical relationships between the various rock units which host sulfide mineralization. Sub-parallel ~96 million year old granodiorite and diorite sills were intruded into siltstones of the Jura-Cretaceous Kahiltna flysch. In the west, these sills were cut by a ~96 million year old alkalic intrusive complex composed of porphyritic monzonites and monzodiorites and related intrusion breccias (Bouley et al, 1995). The mineralized 90 million year old hornblende granodiorite intrusions cut all rock types and comprise four small stocks in the western part of the deposit and a larger pluton in the eastern part of the deposit. Recent deep drilling indicates that these intrusions coalesce at depth. The strongest porphyry-style mineralization is centered on the eastern granodiorite pluton and extends into the surrounding rock units (Figure 1A). The western half of the deposit crops out at surface, whereas the eastern side is un-conformably overlain by a cover sequence of Late Cretaceous to Eocene sedimentary and volcanic strata. The deposit was tilted 20º to the east during the Eocene.

Jan 1, 2012