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Chieftain: complete feasibility study by end of year

Posted: October 18, 2012 - 12:04am

Chieftain Metals Inc. announced Tuesday that it plans to complete a feasibility study by the end of the year in its push to open the Tulsequah Chief Mine.

The mining company recently signed a non-binding Memorandum of Understanding with Canadian engineering firm Procon, its parent company China-based CAMC Engineering.

The Taku River Tlingit First Nation recently announced it was pulling out of the process to permit a road across First Nation land from Atlin, B.C. to the mine site near the Taku River. Taku River Tlingit listed Chieftain’s lack of a feasibility study and one of the reasons it withdrew support.

Chieftain’s confidence appears to be buoyed by its recent appointment of a feasibility optimization team for the Tulsequah project. Members include JDS Energy and Mining Inc., Tetra Tech, SRK Consulting, Marsland Consulting for environmental studies and tailings, metallurgy and geotechnnical work done by Klohn Crippen Berger, Ken Sangster and Dave West respectively. 

Chieftain (TSX:CFB) ended down over the day on the Toronto stock exchange at $2.46 and down from the previous month’s high of $3.15.

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