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Copper North Mining Corp.
Summary
| Project: | Carmacks | |
|---|---|---|
| Deposit: | Carmacks | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 10/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-10-2016: Copper North Mining Corp. announces a PEA report for its Carmacks deposit at the Carmacks project. Updated PEA: Pre tax NPV(8%) CAD$11.9M, Pre Tax IRR 9.4%. Vancouver, British Columbia – Copper North Mining Corp. (“Copper North” or the “Compan | |
| Resources: | (In pit Resource, M+I): 11.551Mt @ 0.997% Cu, 0.435g/t Au, 4.34g/t Ag | |
| CP/QP: | [Resources]: Dr. Gilles Arseneau (Arseneau Consulting Services) | |
| ABSTRACT: | Vancouver, British Columbia – Copper North Mining Corp. (“Copper North” or the “Company”) (TSX.V:COL) is pleased to announce the results of a Preliminary Economic Assessment (the “New PEA” or “PEA”) that evaluates the recovery of gold and silver alongside the recovery of copper at the Company's Carmacks Copper-Gold-Silver project. The Carmacks Project is located in south central Yukon within the southern end of the copper-gold-silver Dawson District. Dr. Harlan Meade, President and CEO of Copper North states: “The work completed at Carmacks has significantly improved the project with addition of gold and silver recovery alongside copper recovery. Application of standard agitated tank leach technology reduced operating and environmental risk, compared to the previously proposed heap leach of copper, gold and silver. The application of agitated tank leach provides for rapid leaching of the copper-gold- silver mineralization and reduction of production cost of copper production. We are particularly pleased with the low cash cost of copper production to US$1.08/lb, net of gold and silver credits. The PEA indicates that, not only has good progress been made, but also with the potential expansion of mineral resources, a modest increase of metal prices and other improvements could result in significant benefits for project economics”. The Carmacks Project is an open pit operation for processing of oxide copper, gold and silver mineralization. The re- engineered project in the New PEA utilizes agitated tank leach processing of copper oxide mineralization to produce cathode copper, followed by agitated tank leach cyanidation and carbon-in-leach (CIL) process for recovery of gold and silver in doré. Tailings are filtered for dry-stacked storage. Drilling in 2015 identified a substantial sulphide mineral resource that warrants further evaluation of the potential for mining and processing the sulphide mineralization. Exploration has also indicated additional oxide mineral resources for which management believes further drilling is warranted for both oxide and sulphide mineralization to expand mineral resources and extend mine life. | |
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