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Copper Mountain Mining Corp.
Summary
| Project: | Copper Mountain Mine | |
|---|---|---|
| Deposit: | Copper Mountain Mine | |
| Location: | Canada | |
| Commodities: | Copper-Silver-Gold | |
| Date: | 10/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-10-2018: Copper Mountain Mining Corp. announces a Resource Estimation report for its Copper Mountain Mine deposit at the Copper Mountain Mine project. Updated mineral resource and ore reserve estimate at the project. Vancouver, B.C., October 1, 2018 – C | |
| Resources: | (Reserve, P+P): 210Mt @ 0.26% Cu, 0.08g/t Au, 0.89g/t Ag | |
| CP/QP: | [Resources]: Peter Holbek (Internal) | |
| ABSTRACT: | Vancouver, B.C., October 1, 2018 – Copper Mountain Mining Corporation (“Copper Mountain” or the “Company) is pleased to announce an updated Mineral Reserve and Mineral Resource estimate along with updated life of mine production guidance for its Copper Mountain mine (“Copper Mountain Mine” or the “Mine”), located in southern British Columbia. All metrics are on a 100% basis. “Our Flagship Copper Mountain Mine’s longevity provides a solid cash flow base for our new growth projects,” Commented Gil Clausen, Copper Mountain’s President and CEO. “The production projections in this updated guidance do not include the large Mineral Resource or potential from the New Ingerbelle deposit. We believe extraordinary upside exists as we now begin the evaluation of integrating New Ingerbelle into the Copper Mountain Mine plan.” Life of Mine Production Plan The Company’s life of mine production plan and guidance is based on Copper Mountain Mine’s updated Mineral Reserves only. This production plan does not include any other Mineral Resource categories or production from the New Ingerbelle deposit. The Company believes that potential exists to increase production by converting Copper Mountain Mine Resources to Reserves, increasing resources through exploration in addition to the contribution of potential production from New Ingerbelle, which could thereby extend its mine life far beyond current Reserves. The Company is evaluating operational alternatives to incorporate New Ingerbelle into the Copper Mountain mine plan (See September 27, 2018 Press Release for more information on New Ingerbelle). Total material moved is expected to be 572 million tonnes over 14 years, with total ore mined expected to be 148 million tonnes and total waste expected to be 424 million tonnes. 13.5 million tonnes of inferred resource within the pit shell is treated as waste. Using average recoveries of 79% for copper, 68% for gold and 71% for silver, total production is expected to be 925 million pounds of copper, 333,000 ounces of gold and 4.2 million ounces of silver. A summary of operating metrics is provided below. | |
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