Outlook
The Company is pleased to see the positive impact that initiatives implemented during the course of the year have had on tonnage and metal production at the Copper Rand mine.
During the third quarter, the Company began to execute its strategy of mining satellite deposits in the Chibougamau mining camp to supplement production with the permitting and start of development of the Merrill Pit.
With the processing of high-grade ore from the Corner Bay deposit scheduled to begin in the fourth quarter, the Company expects further
improvements in both production and costs going forward.
The initial 42,000 ton bulk sample carries an average grade of 3.7% copper and a mining rate of 450 tons per day is expected.
In addition, management continues to evaluate opportunities to acquire additional ore sources in and around Chibougamau.
Copper Rand
The Company continues to make significant progress at the Copper Rand mine, and the impact of the
introduction of Alimak mining and other initiatives to increase productivity can be seen in the improved tonnage milled and increased metal production during the third quarter.
The Copper Rand Mine has historically operated
with one stope.
The objective is to have a minimum of three stopes by the first quarter of 2008. Tons of ore milled have increased consistently during 2007, from 22,043 tons in the first quarter, to 24,656 tons in the second quarter, to 47,758 tons in the current quarter.
Underground development has also consistently improved during the year, rising from an average of 19 feet per day in the first quarter to 23 feet per day in the second
quarter to 3 1 feet per day in the current quarter.
Preparation of additional Alimak stopes is ongoing in an effort to increase the number of working faces in the mine.
The paste fill system is now operating at full capacity, which will continue to help stabilize ground conditions going forward.
Corner Bay
Development for extraction of a bulk sample at the Corner Bay deposit is progressing quickly with expenditures to date under budget.
CMAC-Thyssen employees have excavated 540 meters of the ramp and adjacent openings to date. The first tonnage from Corner Bay should be milled at the Copper Rand Mill in November.
While extracting the 42,000-ton bulk sample, the Company will apply for permitting to continue mining.
Merrill Pit
Following the receipt of environmental permits in September, the Company moved quickly to initiate production from the Merrill Pit.
To date, 75,000 tons of ore have been blasted and 18,000 tons milled grading 0.43% copperand .014 ounces per ton gold.
With the successful start up of this operation the Company intends to produce 30,000 tons of ore per month from Merrill Island, a 50% increase over the initial tonnage planned.
Grades above 0.30% Cu are profitable at this operation. In addition to the concentrate being produced, the Merrill tonnage is leaving positive impact on backfilling at the Copper Rand Mine and on milling costs for the Copper Rand Mill.
Joe Mann
Joe Mann has ceased operations in September. The mine is currently held on a care & maintenance basis prior to the conclusion of a final agreement for the sale of the mine.
Production revenue lost by the closure of Joe Mann is expected to be more that offset by revenues fro the Merrill Pit and
Corner Bay.
About Campbell Resources Inc.
Campbell Resources Limited is a mining company focusing mainly in the Chibougamau region of QuCbec, holding interests in gold and gold-copper exploration and mining properties.
The Company's shares trade on the Toronto Stock Exchange under the ticker symbol CCH.
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