Issue link: http://resourceworld.uberflip.com/i/355430
A U G U S T / S E P T E M B E R 2 0 1 4 www.resourceworld.com 15 been systematically explored with modern technology. The company has several other projects in Turkey, including the Afyon and Golcuk. PJX Resources Inc. [PJX-TSXV] reports that preliminary drilling and additional geophysics on its Vine property in south- east British Columbia has indications for potential zinc-lead-silver mineralization. A newly-discovered structural feature may be similar to other nearby mineral occur- rences as found on the company's West Basin property and at the former Sullivan Mine 35 km to the north. Dr. Trygve Hoy, P.Eng., said, "The Vine and West Basin area have potential for discovery of a significant lead-zinc-silver sedex deposit." Pure Nickel Inc. [NIC-TSXV; PNCKF- OTCQB] is a mineral exploration and development company with a portfolio of properties in Alaska and Canada. On May 7, the company announced the start of exploration activity at its Salt Chuck copper-gold-silver-palladium property in southeast Alaska. Phase I work will include around 1,000-metres diamond drill- ing to test the continuity of gold-copper mineralization encountered by drill hole NPH-12-04 completed in late 2012 in the North Pole Hill part of the property. On April 22, the company also announced encouraging results for a nickel deport- ment study completed for the Eureka Zone nickel-copper-cobalt-PGE occurrence on its MAN Property, also in Alaska. Taseko Mines Ltd. [TKO-TSX; TGB- NYSE MKT] operates the Gibraltar open-pit copper mine in British Columbia (75% stake). Production in Q1 2014 reached 34.5 million lbs copper and 566,000 lbs molyb- denum compared with 23.2 million lbs copper and 355,000 lbs molybdenum in Q1 2013. Copper and molybdenum recoveries rates averaged 85% and 43% respectively. The company also holds the New Prosperity copper-gold project, also in British Columbia, with an indicated resource that comprises 5.3 billion lbs copper and 13.3 million ounces gold. On February 27, Taseko reported that the government of Canada will not issue the federal authoriza- tions for New Prosperity to proceed. The company fundamentally disagrees with this decision and, on May 26, announced it has applied for a second judicial review in rela- tion to the project. Teck Resources Ltd. [TCK.B-TSX; TCK NYSE] has a wide portfolio of interests, including copper and zinc operations in Canada, Chile, Peru and the US. For Q1 2014, Tech's total copper production and share of copper output stood at 85,000 tonnes compared with 83,000 tonnes in Q1 2013. Refined zinc levels reached 62,000 tonnes in Q1 2014 compared with 74,000 tonnes in Q1 2013. The copper unit reported gross profit before depreciation and amortization of $318 million for Q1 2014 compared with $351 million in Q1 2013. The decline was primarily due to lower copper prices and reduced by-product revenues from molyb- denum, zinc and gold, as well as increased smelter processing rate charges. The zinc unit recorded reported gross profit before depreciation and amortization of $121 million for Q1 2014 compared with $126 million in Q1 2013. Thompson Creek Metals Company Inc. [TCM-TSX; TC-NYSE] operates the Thompson Creek molybdenum mine in Idaho and the Langeloth molybdenum met- allurgical processing facility near Pittsburgh, Pennsylvania. It also holds Endako molybde- num mine and the Mt. Milligan copper-gold mine in British Columbia. Mt. Milligan reached commercial production in February and the company recorded three shipments from the site during Q1. The shipment in early April represented future revenue of $15.1 million for copper and $13.9 million for gold. Molybdenum production for Q1 2014 reached 7.9 million lbs compared with 7.7 million lbs in Q1 2013. The average real- ized molybdenum sales price fell to $10.45 per lb in Q1 2014 compared with $11.87 in Q1 2013. Tinka Resources Ltd. [TK-TSXV; TKRFF-OTC Pink; TLD-FSE] holds the Ayawilca zinc project in Peru. On May 21, the company announced the start of a magnetic survey that will encompass its Peruvian plays, including Ayawilca where it expects to identify new areas of poten- tial zinc mineralization. On April 17, the company outlined an arrangement for a $4.54 million financing that will be used to acquire Darwin Resources Corp. and produce additional funds for drilling at Ayawilca. On June 10, Tinka announced that the due diligence period had been completed and that both companies are moving to finalize the statutory plan of arrangement through which Tinka will acquire all of the issued and outstanding common shares of Darwin. Trevali Mining Corp. [TV-TSX, Lima; TREVF-OTCQX; 4TI-FSE] operates the Santander underground zinc-lead-silver mine in Peru and a 2,000 tpd metallurgical plant. Payable metal production for Q1 2014 was almost 14.6 million lbs zinc, just over 5.46 million lbs lead and 268,600 payable oz silver. On June 4, the company announced the discovery of new mineralized zones at Santander: Fatima North and Fatima South. In Canada, Trevali holds the Caribou zinc- lead-silver-copper-gold mine and mill and the Halfmile and Stratmat projects, which are also polymetallic. All are located in the Bathurst Mining Camp in northern New Brunswick. The company aims to start Caribou's commissioning by early 2015. Wallbridge Mining Company Ltd. [WM-TSX; WC7-FSE] is advancing into production the fully-permitted Broken Hammer open pit copper-PGE project in Sudbury, Ontario. On June 17, the com- pany announced it had started delivering the first shipments of ore from Broken Hammer to the Redstone mill operated by Northern Sun Mining Corp. in Timmins, Ontario. An average rate of around 800 tpd ore has been achieved at the mine and Wallbridge is seeking to maintain an ore stockpile equivalent to two weeks of pro- cessing. Exploration work at Wallbridge's other projects in the Sudbury region is being undertaken by Lonmin Plc., which seeks to earn-in on the various properties. Western Copper and Gold Corp. [WRN-TSX, NYSE MKT] has a 100% inter- est in the billion-tonne Casino Project, Yukon. Following a positive feasibility study in 2013, the company submitted an Environmental Assessment Application in 2014. Western Copper is now in the permitting stage for the copper-gold- molybdenum project that will have a mine life of 22 years starting in 2017. n