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Excelsior Mining Corp.
Summary
| Project: | Gunnison | |
|---|---|---|
| Deposit: | Gunnison | |
| Location: | United States | |
| Commodities: | Copper | |
| Date: | 12/5/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 5-12-2016: Excelsior Mining Corp. announces a Feasibility Study report for its Gunnison deposit at the Gunnison project. Feasibility Study results incl. post-tax NPV (7.5%) of 807M, IRR of 40%, 24 year LOM. M3 Engineering & Technology Corporation (M3) was | |
| Resources: | (Reserve, Prob.): 782Mt @ 0.29% TCu for 4505Mlbs Cu contained at North Star | |
| CP/QP: | [Resources]: Michael M. Gustin (Mine Development Associates) | |
| ABSTRACT: | M3 Engineering & Technology Corporation (M3) was commissioned by Excelsior Mining Corp. (“Excelsior”) to prepare a feasibility study (FS) in accordance with the Canadian National Instrument 43-101 (“NI 43-101”) standards for reporting mineral properties, for the Gunnison Copper Project (the “Gunnison Project” or the “Project”) in Cochise County, Arizona, USA. The Project utilizes in situ recovery (ISR) methods to leach copper from a buried copper oxide deposit and extract the copper by conventional solvent extraction-electrowinning (SX-EW) technology. The ISR process involves injecting leach solutions acidified with sulfuric acid into the oxidized mineralization to get soluble copper into solution. Recovery wells pump the copper-bearing pregnant leach solution (PLS) to the surface for copper recovery by SX-EW into salable copper cathodes. The Project envisages development in three production “stages” with capacities of 25 million pounds per annum (mppa) in Stage 1, 75 mppa in Stage 2, and 125 mppa in Stage 3. The stages to ramp up production were meant to minimize capital at risk until the in situ recovery (ISR) process at the Gunnison Project is better understood. For Stage 1 operations, Excelsior will use the neighboring Johnson Camp Mine (JCM) that has a functional 25 mppa SXEW plant north of the Gunnison Project wellfield on the north side of Interstate 10 that it purchased in 2015. In the current mine plan, Stage 2 production will commence in Year 4 of the mine life and will utilize the JCM SX-EW plant, as well as a new 50 mppa Gunnison SX-EW plant which will be located on the south side of Interstate 10, next to the Gunnison wellfield. Stage 3 production will commence in Year 7 of the mine life by doubling the size of the Gunnison SX-EW plant. | |
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