After the acquisition of the Kutcho project, Capstone began reassessing the development plans by focusing on the development of a smaller scale, lower capital cost operation, focussing on high grade production.
In June of 2008, Capstone completed a preliminary economic assessment which evaluated the potential for a smaller scale open pit operation. Subsequent to this study, Capstone conducted a detailed resource definition drill program within the Main deposit, as well as metallurgical and environmental baseline studies. The results of this work were incorporated into a new preliminary economic assessment published in September 2009, revised in July 2010 and further refined in a Pre-feasibility Study filed in March 2011.
Since exploration was completed in 2011, Capstone is currently focused on completing basic engineering and preparing the Kutcho Project Environmental Assessment Certificate (EAC) Application along with discussions with First Nations and other stakeholders. It is anticipated that the EAC Application will be submitted in 2013.