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Cardero Resource Corp.
Summary
| Project: | Zonia | |
|---|---|---|
| Deposit: | Zonia | |
| Location: | United States | |
| Commodities: | Copper | |
| Date: | 2/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-2-2018: Cardero Resource Corp. announces a PEA report for its Zonia deposit at the Zonia project. PEA study results incl. post-tax NPV (8%) of $192M, IRR of 29%. Vancouver, British Columbia…Cardero Resource Corp. (“Cardero” or the “Company”) (TSX: CDU, | |
| Resources: | (Resource, M+I): 76.8Mt @ 0.33% Cu with 510Mlb Cu contained | |
| CP/QP: | [Overall Report]: Terre Lane, Todd Harvey (Global Resource Engineering Ltd.) | |
| ABSTRACT: | Vancouver, British Columbia…Cardero Resource Corp. (“Cardero” or the “Company”) (TSX: CDU, Frankfurt: CR5) is pleased to announce results of a new Preliminary Economic Assessment (“PEA”) on the Zonia copper-oxide deposit in Arizona, USA. Cardero has an Option Agreement with Redstone Resources Corporation (“Redstone”) under which Cardero has been granted an exclusive option to acquire a 100% interest in the Zonia Copper Project (the project). The PEA is based on the amended resource estimate by Tetra Tech Inc. (see news release NR-17-08 dated November, 2017) and outlines an open-pit, copper-oxide heap leach project with a 9-year mine life and favourable economics. “We are pleased to announce the results of this PEA as part of our ongoing development of the Zonia Copper Project. The results show us that the economics of the project are excellent and that gives us the assurance to advance the project through feasibility. We believe the upward trend in the price of copper, along with additional exploration of the new porphyry target to the north of the existing drill defined copper oxide deposit, will also add more value to the project ”, stated Stuart Ross, President and CEO of Cardero. The PEA was prepared by Global Resource Engineering Ltd. (“GRE”) of Denver, Colorado, in accordance with the Canadian Securities Administrators (CSA) NI 43-101. GRE reported on the scopinglevel capital and operating costs, and project economics associated with the potential development of the Zonia copper oxide project. | |
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