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Capstone Mining Corp.
Summary
| Project: | Cozamin | |
|---|---|---|
| Deposit: | Cozamin | |
| Location: | Mexico | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 12/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-12-2018: Capstone Mining Corp. announces a Resource Estimation report for its Cozamin deposit at the Cozamin project. Updated mineral resource and ore reserve estimate at the project. Vancouver, British Columbia - Capstone Mining Corp. ("Capstone") (TS | |
| Resources: | (Reserve, Prob.): 6.195Mt @ 1.60% Cu, 42.89g/t Ag, 0.71% Zn, 0.14% Pb | |
| CP/QP: | [Resources]: Garth Kirkham (Kirkham Geosystems Ltd.) | |
| ABSTRACT: | Vancouver, British Columbia - Capstone Mining Corp. ("Capstone") (TSX:CS) releases positive results of an updated Technical Report for its Cozamin Mine in Zacatecas, Mexico. “The Cozamin mine continues to be a valuable asset for Capstone and formed the foundation upon which we built our company,” said Darren Pylot, President and CEO of Capstone. “Since commencing production at 1,000 tpd in 2006, Cozamin has demonstrated a remarkable ability to continue to discover and define new reserves. Today, more than 12 years and approximately 12 million milled tonnes later, we announce the next step in Cozamin’s evolution. The combination of the new Reserves as well as the significantly increased Inferred Resources give us the confidence to make additional investment to increase Cozamin’s production profile. We look forward to continued exploration success and the further delineation of reserves at Cozamin as the mine continues to operate well into the future.” Mineral Reserve Estimate The following Mineral Reserve estimate incorporates all resource drilling to October 24, 2018. This estimate formed the basis for th e Materials Handling Study that prioritized options to increase production. Cozamin’s mill throughput is currently constrained by the mine’s ability to deliver ore to surface. The Materials Handling Study identified congestion on the main haulage ramp as the mine production bottleneck and compared several alternative solutions Suite 2100 – 510 West Georgia Street Vancouver, BC, V6B 0M3, Canada Tel: 604-684-8894 Fax: 604-688-2180 www.capstonemining.com 2 to sustainably raise production to match the nameplate mill capacity. For a total investment of less than $5 million, Cozamin will be able to transform its haulage network from a two-way single ramp to a one-way ramp loop by connecting an existing main ramp to a planned ramp with a short (~1 km) drift. The future one-way haulage loop (including the aforementioned planned ramp) is expected to be completed by the end of 2020 and raise production by approximately 30%, when compared to current mine production rates | |
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