Pembridge Resources PLC continues to build track record of copper production
- Pembridge Resources says drilling started in the Minto North area of the Minto mine in Canada
- Pembridge Resources reveal 2021 drilling plans for Minto, 'recognising its true value'
Quick facts: Pembridge Resources PLC
Price: 5.475 GBX
Market Cap: £4.87 m
About the company
Pembridge Resources is a London-listed mining company with an investment in Minto Exploration, the company that operates the Minto copper-gold-silver mine in the Yukon, Canada.
The underground copper-gold-silver mine is located around 240km north of the capital Whitehorse along the Klondike Highway. More than US$350mln of capital expenditure has been invested into Minto operations since site construction began in 2006.
The mine was in continuous production between 2007 and 2018, when the mine was placed onto temporary care and maintenance, before Pembridge backed Minto restarted operations in October 2019.
How it is doing
The exploration drilling programme will explore undeveloped parts of the licensed Minto claims in and around the existing deposits and infrastructure that, based on past geophysical surveys and geochemistry, are highly prospective, Pembridge said.
"This is an exciting time for the Minto mine as it restarts exploration on the Minto Claims especially when you consider no exploration drilling has been done on our property for almost a decade,” said chief executive and Chairman Gati Al-Jebouri. "We are optimistic that the results will show further scope to extend the life of the mine."
A total of 13,220 metres of drilling is planned for 2021 with final results expected in early 2022.
Minto Explorations Ltd will reverse into a Canadian shell company named 1246778 BC LTD, known as 778, and list the shares on the TSX under the new name of Minto Metals Corp, which will own 100% of the Minto mine.
What management says
The plans are to explore the highly prospective and undeveloped parts of the Minto Claims area after the senior management of Minto Exploration Ltd approved an exploration drilling programme.
Al-Jebouri talks though the results of the 43-101 Preliminary Economic Assessment Technical Report.
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