|Status:||Forecasted to resume production in 4th Quarter 2014|
|Location:||Lincoln Co., Montana, USA|
|Ownership:||100% by Revett Mining Company, Inc.|
|Project Type:||Underground Room & Pillar Mine / Conventional Flotation Processing|
|Products:||Silver & Copper Concentrates|
|Commodities:||Silver / Copper (40% Ag / 60% Cu by value)|
|Reserves (P&P):||11.07 million tons @ 1.01 opt Ag & 0.39% Cu|
4,000 tons per day
1.0 million oz Silver per annum (avg. at planned production)
8.0 million pounds Copper per annum
The Troy ore body was discovered by Bear Creek Mining (Kennecott) in the early 1960's, and was later optioned to ASARCO to develop and operate. Asarco operated the Troy Mine from 1980 until early 1993. The mine plan was based on mining the thick middle quartzite ore zone which, coupled with shorter haulage routes to the crusher, enabled a production rate of 8,000 tons per day (tpd). After mining the majority of the middle quartzite ore zone and a significant decline in metal prices, ASARCO shut down the mine and placed it on care-and-maintenance with the intent of reopening once economics warranted. Revett acquired the property in 1999.
Late in 2003 as metals prices began to improve Revett made the decision to go back into production. Hiring and rehabilitation commenced in May 2004 with first concentrate being produced in December 2004. Since resuming production in late 2004, the Troy Mine has produced 8.4M ounces of silver and 69.5M pounds of copper. In December 2012, the Company suspended operations due to unstable ground conditions. Revett is now completing development work on alternate access to the A and C beds and expects to resume limited production in late 2014. Once further development to the I Beds is completed, the Company expects to return to full planned production levels of around 4,000 tons per day, hopefully by mid-2015.
Higher metal prices and a successful ongoing drill program have allowed the Company to add resources and reserves each year. At the end of 2013 reserve estimates totaled 16.57 million tons which equates to a mine life of 12 years.