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Taseko Mines Ltd.
Summary
| Project: | Yellowhead | |
|---|---|---|
| Deposit: | Yellowhead | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 1/16/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2020: Taseko Mines Ltd. announces a Resource Estimation report for its Yellowhead deposit at the Yellowhead project. Technical report on the mineral reserve update at project. January 16, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE Ame | |
| Resources: | (Reserve, P+P): 817Mt @ 0.28% Cu, 0.030g/t Au, 1.3g/t Ag at project | |
| CP/QP: | [Resources]: Richard Weymark (Internal) | |
| ABSTRACT: | January 16, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the "Company") is pleased to announce that recently updated technical work on the Yellowhead Copper Project in Central British Columbia has resulted in a 22% increase in recoverable copper reserves and significantly improved project economics. The Company has filed a new technical report (“Technical Report on the Mineral Reserve Update at the Yellowhead Copper Project” dated January 16, 2020) (the “Technical Report”) on SEDAR. The Technical Report was prepared in accordance with NI 43-101 and encompasses a new development plan and updated study on the Yellowhead Copper Project. Russell Hallbauer, Chief Executive Officer, of Taseko, commented, “In 2018, after our Senior Management and Engineering teams recognized the significant inherent value in the Yellowhead orebody that had not been identified in Yellowhead Mining Inc.’s 2014 Feasibility Study, a decision was made to acquire the company. In early 2019, Taseko completed this transaction for approximately C$13 million in Taseko stock.” “The project had over C$70 million spent by previous owners on ore reserve definition, environmental work, as well as the 2014 Feasibility Study, and the acquisition was immediately accretive to Taseko. We began re-engineering the project in early 2019 and now have completely reworked the development concept,” Mr. Hallbauer continued. “Today, we are announcing a project with a pre-tax NPV of C$1.3 billion (at consensus metal price assumptions), a C$500 million increase over the 2014 Feasibility Study. The optimizations and modifications we have made are not only beneficial to the economics of the project but will also improve it from an environmental assessment process standpoint. The leverage this mine has to metal prices is huge, and with only a 10% increase in these assumptions, the pre-tax NPV climbs to C$2 billion.” | |
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