Projects

Davidson Project

The Davidson project is located on the eastern flank of Hudson Bay Mountain, eight kilometers west of the town of Smithers, British Columbia (population 5,300). The Davidson project hosts a large molybdenum-tungsten deposit, featuring one of the highest molybdenum grades of any large deposit in the world. The property’s location features strong infrastructure including highways, railroad access, electrical power and a stable workforce in Smithers. Since the deposit was discovered in 1957, more than 72,000 metres of drilling. Underground development began in 1966 and 2.7 kilometres of underground workings have been completed, with most of the core still available at a warehouse in Smithers. Most of the earlier work was undertaken by Climax Molybdenum and Amax, two large American mining companies, and later work was by optionee Blue Pearl Mining, a Canadian molybdenum mining company.

A resource estimate was undertaken by independent consultants in 2023 for Moon River Capital, with the following conclusions:

• At 0.1% MoS2 cutoff grade: 314 million kg (692 million lbs) Mo, at a grade of 0.11% Mo
• Higher 0.3% MoS2 cutoff grade:  59.4 million kg (131 million lbs) Mo, at a grade of 0.25% Mo

The study recommends that Moon River undertakes a Preliminary Economic Assessment at a cost of about $300,000. That study is expected to begin shortly with results early in 2024. In 2008, a Feasibility Study was undertaken on behalf of Blue Pearl by engineering firm Hatch. While the study is out of date and no longer compliant with 43-101 regulations, for historical context it recommended the construction of an underground mine accessed by an adit. The study recommended mining at a rate of 2500 tonnes per day over a 12-year mine life, shipping run-of-mine ore to the Endako mill site about 200 kilometres to the east by rail.