Moon River Moly has updated the technical report the Davidson Project near Smithers, following a disclosure review by Ontario securities regulators.
“The changes made to the Technical Report are disclosure changes. There are no technical changes to the estimates and results for the mineral resources or the preliminary economic analysis of the Davidson Project,” the company stated.
The Toronto-based company also holds a 25 per cent stake in the Endako Mine Complex, another major molybdenum operation in B.C.
The revised Davidson report includes several clarifications and additions made in response to comments from the Ontario Securities Commission. These include a new statement from the report’s qualified person explaining why a detailed geological model based on lithological units is not required, based on the geology of the Davidson Project. The report now also confirms that survey data met industry standards and was sufficient for constructing a block model used in resource estimation.
Additional language has been added to explain the assumptions behind the mineral resource estimate, including an all-in operating cost of $100 per tonne and justification for the use of a greater than 0.3 per cent MoS₂ cut-off grade. The report also includes the addition of an author to the cover page and clarifies which expert was relied upon during its preparation. Required cautionary language has been added regarding the use of historical resource estimates and references to adjacent properties.
The Davidson Project is a significant molybdenum-tungsten deposit and remains central to Moon River’s plans for mineral development in northern British Columbia.
The Davidson Molybdenum Deposit is situated in roughly nine kilometres northwest of Smithers, within Hudson Bay Mountain. Although the deposit does not reach the surface, it features an existing portal on the mountain’s east side, along with more than 2,100 metres of exploration tunnels. Both the portal and access road are visible from the town. However, the planned underground mine entrance and surface infrastructure will be located on the mountain’s west side, out of view from Smithers. The company says the eastern portal will be used only during the early stages of development.
