Pebble Project Moves Forward After Election Victory

In Alaska?s southwest corner, in the Bristol Bay region, 476 holes have been drilled to help define the size of the Pebble Project. The results indicate that the deposit holds close to 32 Mt (72 billion lbs) of copper and 2.9 Gt (94 million oz) of gold. The Pebble Partnership, an Alaskan limited partnership of Anglo American and Northern Dynasty Minerals, owns the project that consists of two world-class mineral deposits. Currently in the prefeasibility and prepermitting stage of development, the Pebble Project is one of the largest and highest profile exploration projects in North America. History The Pebble West Project was originally discovered in 1988 by Cominco (now Teck Cominco). Drilling programs in 1997 defined a near-surface mineral deposit of 1 Gt (1.01 billion st). Minerals found included copper, gold and molybdenum. Northern Dynasty Minerals acquired the property in 2001 and, by 2005, it had confirmed a measured and indicated resource of 4.1 Gt (4.5 billion st) containing 1.2 kt (42.1 million oz) of gold, 11.2 Mt (24.7 billion lbs) of copper and 612 kt (1.35 billion lbs) of molybdenum and additional silver. By September 2005, Pebble East, a deeper, but richer deposit had been found. Drill data by the end of 2005 confirmed a 3.4-Gt (3.7-billion st) inferred resource containing 19 Mt (42.6 billion lbs) of copper, 1.2 Mt (39.6 million oz) of gold and 1.2 Mt (2.7 billion lbs) of molybdenum.