Copper North Announces PEA Results for Carmacks Copper

Copper North Mining Corp. (TSXV:COL) announced the results of a preliminary economic assessment that evaluates the recovery of gold and silver alongside the recovery of copper at the proposed Carmacks Copper leach project located near the village of Carmacks in Central Yukon. Following the PEA, Copper North will complete a second phase of re-engineering and optimization of the mine and processing plan.

As quoted in the press release, highlights from the added recovery of gold and silver include:

• Net Revenues increased approximately 28% from US$677 million to US$870 million
• Net Cash from Operations increases by 42% from US$333 million to US$471 million
• Life of Mine Operating Cost increases from US$344 million to US$398 million; a 15% increase
• Life of Mine Cash Operating Cost, after gold and silver credits, decreased from US$1.59/lb to US$1.07/lb for copper
• Pre-tax NPV(discounted at 8%) is US$66 million and After-tax NPV(8%) is US$32 million
• Pre-tax Internal Rate of Return is 15% and After-tax IRR is 12%
• Copper recovery remains unchanged at 85% and gold recovery is 78% and silver recovery 75%
• Capex increased from US$178 million including contingency for the M3 Feasibility Study to US$225 million (including a contingency of US$21M) for the PEA
• Potential Life of Mine Annual production is 30,000,000 pounds copper, 17,300 ounces gold and 165,000 ounces silver
• Mine Life approximately 8 years

Click here to read the Copper North Mining Corp. (TSXV:COL) press release