Copper Mountain mine’s mineral reserve expanded
Copper Mountain Mining announced that, following its 2019 exploration and development drilling, it has expanded its namesake mine’s mineral reserve and mineral resource, while at the same time optimizing the mine plan.
The Copper Mountain mine is a conventional open-pit, truck-and-shovel operation located 20 kilometres south of Princeton in southern British Columbia, Canada.
Copper Mountain says it will continue to drill the resources at the mine as significant potential exists to further expand all the deposits at a low conversion and discovery cost
The updated mine plan and mineral reserve and resource resulted in a 12% increase in proven and probable mineral reserves to 477 million tonnes for contained metal of 2.47 billion pounds of copper and 1.55 million ounces of gold at average grades of 0.23% Cu and 0.10 g/t Au.
Total measured & indicated mineral resource at a 0.10% Cu cut-off grade was estimated in 598.8 million tonnes with 0.23% copper, 0.10 g/t gold, 0.73 g/t silver.
At the same time, the life of mine strip ratio was reduced to 1.58 from 1.81 and the mine life was increased by 4.5 years to 31 years at current planned production levels.
“We continue to grow the size and quality of the Copper Mountain mine mineral reserves. Over the last year we have integrated the New Ingerbelle pit and now we have increased and integrated the CMM North pit as well as optimized the CMM Main pit,” Gil Clausen, the company’s president and CEO, said in a media statement.
According to Clausen, the North pit brings low cost production given it is mineralized from surface and adjacent to the Copper Mountain mine’s mid-grade and low-grade stockpiles and the primary crusher.
“Notably, the North pit requires zero initial capital to develop and has a low strip ratio of 0.85 waste tonnes to ore tonnes, which, when combined with the new design optimizations of the established pits, decreases total life of mine strip ratio for the entire operation to 1.58 from 1.82,” the executive said.
source: Mining.com
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
