Buchans Resources has operations and projects in Canada, Ireland, and the United Kingdom with exposure to zinc, lead, silver, and manganese.
Through its wholly owned subsidiary Buchans Minerals Corporation, Buchans Resources has a 100% interest in the Lundberg and other properties in the historic Buchans Mining Camp in Central Newfoundland operated from 1928 to 1984 and was regarded as one of Canada’s richest base metal mines. The former Buchans zinc-lead mine is reported to have produced about 16 million tonnes of high grade zinc, lead and copper over that period.
The Buchans base metal project comprises four advanced base metal properties in the Buchans area of central Newfoundland that contain numerous exploration prospects; namely the 100% owned Buchans property (which contains the Lundberg deposit), the 100% owned Tulks North property (which contains the Daniels Pond deposit), the 100% owned Bobbys Pond property (which contains the Bobbys Pond deposit), and a 49% joint venture interest in the Tulks Hill property (which contains the Tulks Hill deposit).
The Lundberg deposit is a stockwork-type VMS deposit surrounding and extending from the Lucky Strike orebody of the former Buchans mine. In March 2013, Buchans reported an indicated resource of 23.44 million tonnes grading 1.41% Zn, 0.60% Pb, 0.35% Cu, 5.31 g/t Ag and 0.07 g/t Au (March 2013).
In August 2011, Buchans reported the completion of a positive Preliminary Economic Assessment (PEA) by Wardrop Engineering, based on a 5,000 tonne per day open pit mining and milling operation over a 10 year mine life. The PEA is based on Inferred Mineral Resources, which are not Mineral Reserves and do not have demonstrated economic viability.
During 2016, Buchans, through its wholly owned subsidiary Buchans Minerals Corporation, in a collaboration agreement with Canadian Zinc Corporation (TSX:CZN) successfully completed a research programme to evaluate the metallurgical characteristics of their respective volcanogenic massive sulphide (“VMS”) Zn-Pb-Cu-Ag-Au base metal deposits in central Newfoundland .
The metallurgical research study demonstrated that the ore from Buchans Lundberg, Daniels Pond and Bobbys Pond deposits can be successfully processed in a central mill using a sequential flotation flowsheet, and that selective zinc, lead and copper concentrates at marketable grades can be produced from these deposits.
Buchans’ other exploration properties include Northern Pennines located in the northern Pennines area of England, United Kingdom; Moate, County Westmeath; and Tatestown, Navan, County Meath, Ireland and an indirect interest in Xtierra’s base metal project in Zacetecas, Mexico.
Buchans Resources is continuing to advance its other exploration projects in Canada, Ireland and the UK and also seek other advanced stage projects in other locations around the world.