The Conversation (0)
Nevada Copper Corp. (TSX:NCU) provided an update on the Pumpkin Hollow Project: Stage 2 Open Pit optimization and updated Feasibility Study has been modified to allow for the inclusion of high grade supplemental mill feed from the East and E2 underground deposits; land conveyance and final permits are expected by June; the production-sized shaft at the eastern development is approaching completion; underground drilling is commencing in May, and open pit drilling has started.
As quoted in the press release:
Highlights:
- Land conveyance and final permits expected by June:
- Passage of the Yerington land bill was signed into law by President Obama on December 19,2014 and directs the conveyance of 10,400 acres of Federal land to the City of Yerington within 180 days as prescribed by law;
- Binding agreements were executed with the City of Yerington on February 9, 2015 to formalize the details of the land conveyance from the City to Nevada Copper;
- Nevada Copper will acquire private ownership of all Federal land surrounding Pumpkin Hollow which will consolidate the entire Project within a privately held land position where the required permits will be under State jurisdiction and not Federal; and,
- Receipt of all key State permits for the open pit operation are expected by June by way of revisions to the current Reclamation and Air Pollution Control permits;
- Integrated Feasibility Study launched – With the passage of the Land Bill and receipt of permits expected by June 2015, the previously announced Stage 2 Open Pit optimization and updated Feasibility Study (see November 4, 2014 News release) has been modified to allow for the inclusion of high grade supplemental mill feed from the East and E2 underground deposits (“Integrated Feasibility Study”);
- Shaft approaching completion – At the Eastern underground development, the production sized shaft is at a current depth of 1,806 feet – over 95% complete towards the main 1,900 foot haulage level which is expected to be reached in the next few weeks;
- Open pit and underground drilling programs:
- 26,000 feet (7,900 meters) of drilling from underground drill stations is expected to commence in May; and,
- 74,000 feet (22,600 meters) of open pit drilling has commenced.
Click here to read the Nevada Copper Corp. (TSX:NCU) press release
Click here to see the Nevada Copper Corp. (TSX:NCU) profile.