The Conversation (0)
Nevada Copper Corp. (TSX:NCU) filed its National Instrument 43-101 Technical Report Feasibility Study for its Pumpkin Hollow project in Nevada on SEDAR. The Feasibility Study confirms the technical and economic viability of constructing and operating a stand-alone 70,000 ton-per-day open pit copper mining and processing operation.
As quoted in the press release:
Highlights of the Stage 2 Open Pit Feasibility Study (all amounts are stated in United States dollars):
- The project development consists of a nominal 70,000 ton-per-day open pit mining and milling operation;
- The open pit proven and probable mineral reserves increased from 3.2 to 4.1 billion pounds of copper reflecting a 29% increase. The current mineral reserves for the precious metals are 717,530 ounces of gold and 26.7 million ounces of silver. Mineral reserves are based on drill data up to July 2012;
- First production targeted for 2016, with the mine life expanding from 18 to 22 years. The current open pit mine life is based on increased daily throughput of 70,000 ton-per day, up from 60,000 ton-per-day previously;
- The 29% increase in mineral reserves reflects a lower copper price of $2.80 per pound copper used for the current pit design limit, versus $3.00 per pound used in the 2012 mineral reserve. The expansion of the mineral reserves has resulted in a merged North and South open pit. This has had a positive impact on sustaining capital; moving South pit pre-stripping out 4 years and reducing equipment needs;
- Life-of-Mine (“LOM”) metal production contained in concentrates totals 3.7 billion pounds of copper – an increase of 29%, 483,476 ounces of gold and 15.0 million ounces of silver;
Click here to read the Nevada Copper Corp. (TSX:NCU) press release