NovaCopper Inc. (TSX:NCQ,NYSEMKT:NCQ) Vice President Corporate Communications Patrick Donnelly talks about the Arctic deposit and the Bornite carbonate replacement style deposit in the Ambler mining district in Alaska, near the Teck-operated Red Dog Mine.
NovaCopper Inc. (TSX:NCQ,NYSEMKT:NCQ) Vice President Corporate Communications Patrick Donnelly spoke to Resource Investing News at the Prospectors and Developers Association of Canada (PDAC) Convention about the Arctic deposit and the Bornite carbonate replacement style deposit in the Ambler mining district in Alaska, near the Teck-operated Red Dog Mine. In 2014, a resource estimate for Bornite is expected, as well as news on permitting.
NovaCopper Inc. is a base metals exploration company focused on exploring and developing the Ambler mining district in Alaska. It is one of the richest and most-prospective known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic VMS deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper mineralization. Exploration efforts have been focused on two deposits in the Ambler district — the Arctic VMS deposit and the Bornite carbonate replacement deposit. A National Instrument 43-101-compliant Preliminary Economic Assessment for the Arctic Deposit, completed in July 2013, identified a polymetallic open-pit project with the Net Present Value of $930 and $535 million on the pre-tax and after-tax bases, respectively using an 8% discount rate and long-term metal prices of $2.90/lb copper, $0.85/lb zinc, $0.90/lb lead, $22.70/oz silver and $1,300/oz gold. The Preliminary Economic Assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as reserves. There is no certainty the Preliminary Economic Assessment will be realized. Both deposits are located within NovaCopper’s land package that spans approximately 143,000 hectares. NovaCopper has an agreement with NANA Regional Corporation, Inc. (NANA), an Alaskan Native Corporation that provides a framework for the exploration and potential development of the Ambler mining district in cooperation with the local communities. Our vision is to develop the Ambler mining district into a premier North American copper producer.