Overview of Vermiculite Canada’s Cavendish Vermiculite Project
Regis Resources, Inc. acquired the Cavendish Vermiculite Project in October 1998. The project is located in the Township of Cavendish, County of Peterborough, Providence of Ontario, Canada, about 50 kilometers North by Northwest from the city of Peterborough. Since the 1998 acquisition, Regis has maintained the original claims and leases and increased the property size to more than 4,100 hectares (10,000 acres).
Vermiculite was first discovered on the property in 1950. Subsequent exploration located the “East Deposit” in the 1970’s. In 1992, further exploration located the “West Deposit” some 2,400 metres west of the East Deposit. Diamond drilling, augur drilling and backhoe trenching techniques were used to develop the deposit. Laboratory testing of samples found that the West Zone vermiculite is a pale amber colour after exfoliation and gives above average bag yields. The testing also confirmed that the deposit does not contain any deleterious minerals that would adversely affect sale of a commercial vermiculite concentrate.
In 1999, Regis commissioned A.C.A. Howe International Limited of Toronto, Ontario to prepare a complete feasibility study of the “West Zone” vermiculite ore body. The West Zone is located within Lots 10-12, Concessions 2 and 3, Cavendish Township, Ontario, Canada and encompasses several mining claims.
It is
estimated that the total reserves for this first area to be developed represent
approximately 1.2 million tonnes of recoverable vermiculite concentrate. At
1.2 million tonnes of recoverable vermiculite, the West Zone hosts a reserve
and resource sufficient for a 24-year mine life at a production rate of 50,000
tonnes of concentrate per year. Strathcona Mineral Services Ltd. confirmed
this estimate. In addition, Regis’ property holdings contain four (4)
other known vermiculite deposits. Because Regis has focused its’ efforts
on developing and bringing the West Zone Deposit into production only limited
exploration work has been conducted on the other deposits. However, the work
has been sufficient to cause Regis to stake additional claims to obtain ownership
of those potential deposits
.
