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Nevada Copper Corp.
Summary
| Project: | Pumpkin Hollow | |
|---|---|---|
| Deposit: | Pumpkin Hollow | |
| Location: | United States | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 9/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Mine Development | |
| Report details: | 10-9-2018: Nevada Copper Corp. announces a PEA report for its Pumpkin Hollow deposit at the Pumpkin Hollow project. PEA for open pit mining method results incl. post-tax NPV of US $1385M (5%), IRR of 21%. VANCOUVER, British Columbia, Sept. 10, 2018 -- Nev | |
| Resources: | (Resource, M+I): 397Mt @ 0.48% Cu, 0.001oz/st Au, 0.060oz/st Ag in Open pit plan | |
| CP/QP: | [Resources]: Ronald Turner (Golder Associates) | |
| ABSTRACT: | VANCOUVER, British Columbia, Sept. 10, 2018 -- Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for the development of its open pit project (the “Open Pit Project”) at its 100% owned Pumpkin Hollow property (“Pumpkin Hollow”). The PEA contemplates the option of developing the Open Pit Project independently from the Company’s underground mine at Pumpkin Hollow (the “Underground Project”) which is fully funded as to expected construction capital expenditures and under construction (see News Release dated August 28, 2018) and presents an alternative to the previously disclosed option for the integrated development of the Pumpkin Hollow mine. The PEA for the Open Pit Project describes the opportunity to develop the Open Pit Project for a substantially lower upfront capital cost compared to previous technical studies by implementing the same “margin-over-tons” philosophy that has been used to optimize the Underground Project. The PEA study focuses on a fresh mining perspective for the deposit, while utilizing strengths of the previous feasibility study data (as set out in the Existing Technical Report)1 on aspects of metallurgical test work and environmental design, with a focus on project value / economic returns, rather than chasing scale. The go-forward Open Pit Project work plan following the PEA will include analysis of the successful 2018 drilling program to produce an updated Mineral Resource, and the completion of a Pre-Feasibility Study for the Open Pit Project which will further test the staged production plan set out in the PEA using the (to be) enhanced Mineral Resource. “We are highly encouraged with the results of the PEA for our open pit project at Pumpkin Hollow. The report clearly illustrates the potential to put this large, open pit project into production with lower capital costs and in a shorter period of time than originally envisaged. The phased development approach also aligns with our strategy of pursuing optionality through low-capital intensity and staged production growth to generate shareholder returns. We have used this same margin-over-tonnes philosophy with the Pumpkin Hollow underground mine, which will be in production in 2019, and we are looking forward to the next steps in advancing the open pit project.” Golder Associates Ltd. (“Golder”) and Sedgman Canada Limited (“Sedgman”) prepared the PEA report, supported by the Nevada Copper project team. The PEA study focuses on the Pumpkin Hollow open pit North and South deposits and does not include the underground development. | |
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