 |
 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Swamp Point Aggregate Project
Highbank Resources signed an agreement on February 10, 2005 with Portland Canal Aggregates Corporation (PCAC) to acquire a 100% interest in the Swamp Point Sand, Gravel, and Aggregate project on Portland Canal, south of Stewart, on tidewater, in Northwest British Columbia (BC). This North Coast site has now been proven to host a 70-million ton aggregate deposit for future shipping via a deep-water load-out facility (click for news release). The process of permitting is well underway with some key components already in hand.
The Merits of this Gravel and Aggregates Business OpportunityAfter oil, aggregates are the most extracted mineral resource in the world. BC provides some of the highest quality aggregates on the Pacific Coast of North America. The Swamp Point Property, on the east side of the Portland Canal fjord on tidewater, north of Donahue Creek; it is a medial glacial marine terrace consisting of well-sorted tough gravel and sands. The Swamp Point Project will consist of an aggregates operation and a deep-water load-out terminal.
Highbank's Corporate Objectives and Aggregates ResourcesObjective - to mine and produce sand and gravel, and hard rock aggregates from its Swamp Point Property. Mission - to create a significant new construction aggregates company and to become a leading supplier in the aggregates industry. Business Strategy - to contract out all major mining operations, deliver a minimal processed bulk product that can be further processed by the end-user, and transport large quantities of high quality, cost-competitive construction aggregates by bulk freighters to aggregates-deficient markets throughout the Pacific Rim on a FOB basis. Target Markets - Primary - North America's Pacific Northwest, from BC to California; Secondary - Pan Pacific including South Korea, South East Asia, Japan, Hawaii. Time Frame - two (2) years. Months 0-12 will include Stage One evaluation and trial mining phase. Months 12-24 will include the completion of Stage Two feasibility and the commencement of large-scale mining. Location - Swamp Point is located approximately 160 kilometres north of the port of Prince Rupert and 50 kilometres south from the port of Stewart. Both the city of Prince Rupert and the township of Stewart offer year-round ice-free, deep-sea ocean ports, capable of accommodating Panamax-class ships. Access to the Property is by helicopter, float equipped aircraft, or boat from either Prince Rupert or Stewart. The flight times are approximately 40 minutes from Prince Rupert, 15 minutes from Stewart and 60 minutes from Terrace.
Resource - The area of the Swamp Point deposits, now under license, is estimated to contain a multi-million tonne in situ resource of sand and gravel and aggregates (granite).
*The specific gravity value of 2.17 used to convert volumes to tonnes is the value used by B.C. Government to assess extraction tonnages for royalty revenue purposes.
AccessibilityAvailability of transportation corridors is an extremely important factor for marketability of aggregates in and out of the Lower Mainland and off the BC coast. Tidewater access provides the lowest transport cost and is critical to low-value bulk products. The Swamp Point Property is located on tidewater that is easily accessible by barge and/or ship, ensuring competitive transportation costs to markets. Shipping through Prince Rupert offers access to all markets. The Port of Prince Rupert represents the most efficient land-sea route to Asian markets. It is 30 hours sailing time closer to Asia than any other port of the West Coast of North America, including Vancouver, Oakland and Los Angeles. This reduces both the time and cost of shipping. The township of Stewart provides an additional viable port.
It is the northern-most deep water port in British Columbia.
The Port is ice-free and navigable year-round, handles approximately
20 ship calls per annum and offers two deep-water anchorages,
of which one anchorage can accommodate Panamax-class ships.
more>>> Article from The Globe and Mail - July 16, 2007
Latest Pictures of Drilling on The Swamp Point Aggregate Project
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
 |
