In July of 2006, Terrane Metals Corp. acquired the Mt. Milligan project, which is an advanced stage copper-gold project located in central British Columbia, 155 km northwest of Prince George. The project has access to excellent infrastructure and is located between the towns of Fort St. James and Mackenzie.
Placer Dome, the previous mineral rights holder, completed a pre-feasibility study in 1991, spent millions of dollars advancing the project and received a mine development certificate in 1993, this permit expired in 2003. With the increase in commodity prices Placer Dome was reassessing the project in 2005 before being acquired by Barrick Gold. The Mt. Milligan project was then purchased by Terrane Metals Corp.
Terrane is nearing the completion of a two year $20 million dollar feasibility study. Our efforts over the past 24 months have been focused on value engineering and ensuring future environmental stewardship at Mt. Milligan. We have been able to design a project with a low stripping ratio, excellent metallurgy, compact mine site footprint and responsible closure plan. Management believes that Mt. Milligan has the potential to be an environmentally sound, long life and low cost producer of copper and gold that will make a positive impact on the social and economic well-being of the region. In conjunction with the final Feasibility Study, Terrane has been advancing the environmental assessment (EA) of Mt. Milligan using current environmental data compiled with information collected in the 1990s. The EA will be submitted to both the provincial and federal government to help identify any potential environmental and social impacts as a result of the project. The EA process provides an opportunity for all interested parties to contribute to an informed decision making process in the context of sustainable development.
Terrane is committed to maximizing local hiring, employment, and the procurement of supplies and services for Mt. Milligan. We look forward to expanding our positive working relationships within the local and First Nations communities. Terrane hopes to provide a link between a healthy environment and economic viability in the region.
For further information on the proposed Mt. Milligan project:
Gillian Roy
Manager of Public Relations & Sustainability
1500 - 999 W. Hastings Street
Vancouver, BC V6C 2W2
