For immediate release
November 26, 2001
VICTOR PROJECT TO PRE-FEASIBILITY
Toronto, Ontario, November 26, 2001 — De
Beers representatives are in Attawapiskat today to announce their intention
to undertake a mining pre-feasibility
study at the company's Victor Project in the James Bay
Lowlands of Ontario.
The community meetings are to report on the results of
a study, undertaken by De Beers' mining team with input
from engineering consultants Bechtel Canada and AMEC. The
study identified a number of issues requiring further review.
Amongst these are studies to refine capital and working
costs, and also to consider the significant technical issues
that would be encountered when developing an open pit mine
in this isolated region of the northern Ontario.
"The desktop study provides us with good information
for project planning, specifically areas - such as water
management - which need more work," said Jocelyn Fraser,
De Beers Canada. "We remain interested in the project
and this winter will start a pre-feasibility study - a
critical step in the process to help us to determine the
viability of a diamond mine at Victor."
The study identified the need for more detailed geophysical
and delineation work to reduce the uncertainties associated
with the resource and its surroundings. The Victor deposit
is made up of a number of kimberlites, in two separate
pipes, that meet near the surface and which cover an area
of approximately 17 hectares.
The Victor Project is located 90 kilometres west of the
coastal community of Attawapiskat in the James Bay Lowlands.
In 1999, De Beers and the Attawapiskat First Nation signed
a Memorandum of Understanding outlining how the two groups
will work together during the advanced exploration stage
of the project to create jobs and opportunities and to
protect the environment.
- Ends -
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further information contact:
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Linda Dorrington
Manager - Public and Corporate Affairs
De Beers Canada
Email: linda.dorrington@ca.debeersgroup.com
Tel: (416) 645-1710 ext 412 / (905) 849-0619
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