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NovaCopper (NYSEMKT:NCQ;TSX:NCQ) announce that it has filed a National Instrument 43-101 (“NI 43-101”) compliant technical report titled “NI 43-101 Technical Report on the Bornite Project, Northwest Alaska, USA .
NovaCopper (NYSEMKT:NCQ;TSX:NCQ) announce that it has filed a National Instrument 43-101 (“NI 43-101”) compliant technical report titled “NI 43-101 Technical Report on the Bornite Project, Northwest Alaska, USA .
As quoted from the press release:
The Bornite Project is located in the highly prospective Ambler mining district of northwestern Alaska. Highlights of the technical report are as follows:
Highlights:
- At a base case 0.50% copper cutoff grade, the Bornite Project is estimated to contain in-pit Indicated Resources of 40.5 million tonnes at 1.02% copper for 913 million pounds of contained copper (see Table 1 for details).
- At a base case 0.50% copper cutoff grade, the Bornite Project is estimated to contain in-pit Inferred Resources of 84.1 million tonnes at 0.95% copper for 1.8 billion pounds of contained copper (see Table 1 for details).
- At a base case 1.50% copper cutoff grade, the Bornite Project is estimated to contain below-pit Inferred Resources of 57.8 million tonnes at 2.89% copper for 3.7 billion pounds of contained copper (see Table 2 for details).
- Contained copper in Indicated Resources has increased from 334 to 913 million pounds which constitutes a 173% increase in contained copper metal (see Figure 1 for details).
- Total contained copper in Inferred Resources has decreased from 5,696 to 5,450 million pounds (1,768Mlbs in-pit and 3,683Mlbs below-pit) which constitutes a 4% decrease in contained metal (see Figure 1 for details). The reduction in contained copper is due principally to moving in-pit Inferred resources to the Indicated category.
Table 1: Bornite Deposit – In-Pit Mineral Resource Estimate
Table 2: Bornite Deposit – Below-Pit Mineral Resource Estimate
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