Selwyn Chihong to spend $56M on proposed Howards Pass mine

The owners of the zinc deposit at Howards Pass, Yukon, are budgeting $56million next year to confirm their multi-billion-dollar planfor a mine at the site is viable.

The combinedclaims are touted as the biggest zinc lead deposit in the world.

Former Yukoner, Maurice Albert, is vice president of external affairs for Selwyn Chihong, which is now the sole owner of the property.

He say company plans would make it the biggest mining project in Yukon history, with an estimated construction cost of $1.8 billion.

Obviously this is early days at this time but that is what our engineers are telling us," Albert says.

The new owners are proposing an open pit mine producing up to 25 thousand tonnes per day. That's up seven fold from earlier production targets, and roughly triple of what was mined in Faro.

Albert says the company still has to determine which Pacific sea port can handle it's product.

"Presently there is no port that has capacity to handle the volume of concentrate we will generate, Albert says. With the decision on the port will come the decision on routing."

Plans for next summer include rebuilding bridges and access roads, more drilling on site, and a search for hydro power.

Albert says interim agreements are in place with all affected First Nations.

The company has already spent more than $100 million exploring the property.