Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
16-8
which 2.85 million tons of stockpiled low-grade mineral reserves would be processed
until depleted in Year 45. No sulfide or transitional material would be mined over the
course of open pit operations; consequently, no surfaces in the ultimate pit walls are
expected to expose sulfide mineralization.
Total mine production during Years 2-14 would generally range between 3.5 and 3.9
million tpy, or about 14,000 to 15,600 tpd for 250 pit operating days per year. Peak
mining rates during Years 15-28 would range between 4.5 and 4.7 million tpy of total
material, or about 18,000 to 18,800 tpd. Over the life of the project, total material
handling is estimated at 151.2 million tons, including 19 ktons of high-grade stockpile
and 2.85 MM tons of low-grade stockpile recovery.
Excluding the pre-production stripping period, the open pit mine life is estimated at 38
years under the proposed mine production schedule. Hydromet plant operations are
projected for 45 years.
A one year pre-production stripping period is planned to remove approximately 7
million tons of waste material to allow access for production mining. The waste
stripping will be performed by a contractor at an estimated cost of $3.40 per ton,
totaling $23.4 million. Blasting operations, loading, hauling, dozing waste into lifts,
mobilization/de-mobilization and contractor profit are included in this unit cost. The
contractor assumes a fleet of nine to ten 100-ton trucks and an average one-way haul
distance of about 5,000 feet.
