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Copper North Mining Corp.
Summary
| Project: | Carmacks | |
|---|---|---|
| Deposit: | Carmacks | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 1/30/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2017: Copper North Mining Corp. announces a PEA report for its Carmacks deposit at the Carmacks project. Amended PEA results incl. pre-tax NPV (8%) of $12M, IRR of 9.4%, 5.2yr payback. CNMC commissioned JDS to complete the PEA for the Carmacks Projec | |
| Resources: | ||
| CP/QP: | [Resources]: Dr. Gilles Arseneau (Arseneau Consulting Services) | |
| ABSTRACT: | CNMC commissioned JDS to complete the PEA for the Carmacks Project. The purpose of this study is to complete a review and compilation of the resources, mining designs and preliminary economics following the reporting requirements stipulated by Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects (NI 43-101). The Kilborn studies examined the development of the copper oxide mineral occurrence as an open pit mine with valley fill heap leaching followed by solvent extraction and electrowinning. The 2007 and 2012 M3 studies updated the development plan, capital and operating cost estimates, and financial analysis for the project as a copper heap leach operation. The Merit study was a PEA of the recovery of copper from the deposit by acid heap leaching using an on/off pad and recovery of gold and silver by heap leaching using cyanide. The present report is a PEA of the recovery of copper, gold, and silver, using a two-stage agitated tank leach process and dry stack tailings storage. This PEA is based only on the oxide copper-goldsilver Mineral Resource in Zones 1, 4, and 7 of the Carmacks deposit defined by Arseneau (2016). The remaining sulphide Mineral Resource in Zones 1, 4, and 7, and the combined oxide and sulphide Mineral Resource defined in Zones 2000S, 12, and 13 by Arseneau (2016) are not included in this PEA. This PEA does not include Inferred Mineral Resources in the economic calculations; only Measured and Indicated Mineral Resources are included. However, the PEA is preliminary in nature and there is no guarantee that any of the Mineral Resources will be converted to Mineral Reserves or that the PEA will be realized. | |
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