Copper Mountain: Robust PEA Results for New Ingerbelle

Copper Mountain (TSX:CMMC) has announced that it has completed a base case preliminary economic assessment on its 75-percent owned New Ingerbelle property, one kilometer from the company’s flagship operation, the Copper Mountain mine, in southern British Columbia.

As highlighted in the press release:

New Ingerbelle is expected to have total production of 768 million pounds of copper and 550,300 ounces of gold over its mine life, based on Measured and Indicated Resources only. The production plan assumes the use of Copper Mountain mine’s existing mine equipment fleet and mill.

The mine would have an after-tax NPV of US4394 million, an annual copper production of 85 million pounds and a 12-year mine life.

Copper Mountain President and CEO, Gil Clausen said:

“New Ingerbelle represents a low capital, low risk, high quality development project in a world-class mining jurisdiction. Our next steps include evaluating various operational alternatives to test against this base case, which assumes supplanting Copper Mountain mine production. We will study incorporating New Ingerbelle into the Copper Mountain mine plan using the existing mill and study expanding the mill at Copper Mountain to increase the combined annual production.  New Ingerbelle should give us tremendous flexibility as we execute our low risk growth strategy. This PEA demonstrates just how much potential value this project holds.”

Click here to read the full Copper Mountain (TSX:CMMC) press release,