The Copper Mountain mine is located about 20 km south of Princeton, British Columbia and 300 km east of the port of Vancouver. The Copper Mountain mineral claims cover approximately 18,000 acres and consist primarily of 135 crown grants, 176 mineral claims and 14 mining leases. The property is accessible by a combination of highways and paved roads and is close to the port of Vancouver that provides service for shipment of copper concentrates.
The Copper Mountain mine is a conventional open pit, truck and shovel operation. The mine has a 45 ktpd plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits. A second mill expansion to 65ktpd is also planned, which is expected to further increase average annual production to 139 million pounds of copper equivalent and reduce C1 cash costs to US$1.19 per pound of copper (first ten years of a 21 year mine life). The 65 ktpd mill expansion, including the integration of New Ingerbelle, brings Copper Mountain Mine’s after-tax NPV at an 8% discount to US$1.0 billion. (Per the November 2020 Technical Report).
Further potential exists through the upgrading of resources to reserves and further exploration to continue to extend the mine life and add value.
Virtual Tour and 3D Model
|Ownership||75% Copper Mountain Mining Corporation|
25% Mitsubishi Materials Corporation (MMC)
|Location||20 km south of Princeton, B.C. (Canada)|
Mine and New
|Mine Type||Conventional Open Pit|
|Process||Conventional Crush, Grind, Flotation|
|Expected Mine life||31 years (based on reserves only and 45ktpd)|
2020A Production: 90.1 million pounds of copper
2021A All-in Costs: US$$2.12 to $2.00 per pound of copper
|End Product||Copper Concentrate (with Gold and Silver)|
Mineral Reserve and Mineral Resource
Copper Mountain Mine Mineral Reserve Summary (as at December 31, 2021)
The Copper Mountain Mineral Reserve is included in the Copper Mountain Mineral Resource and the effective date of the Mineral Reserve and Mineral Resource is December 31, 2021. A summary of the Mineral Reserve and Mineral Resource is provided below.
|COPPER MOUNTAIN MINE MINERAL RESERVE|
|Proven (Pit Only)||180,101||0.26||0.11||0.85||1,041||644||4,896|
|Probable (Pit Only)||277,313||0.23||0.11||0.68||1,426||974||6,043|
|Total Proven and Probable (Pit Only)||457,415||0.25||0.11||0.75||2,466||1,617||10,939|
|Total Proven and Probable||501,509||0.24||0.10||0.72||2,615||1,674||11,576|
- Joint Mineral Reserves Committee (JORC) and the CIM Standards were followed for Mineral Reserves.
- Mineral Reserves were generated using the December 31, 2021 mining surface.
- Mineral Reserves are reported at a 0.10% Cu cut-off grade.
- Mineral Reserves are reported using long-term copper, gold, and silver prices of $2.75/lb, $1,500/oz, and $18.50/oz, respectively.
- An average Copper Mountain Mine copper process recovery of 80%, gold process recovery of 65%, and silver process recovery of 70% is based on geometallurgical domains and actual plant values.
- An average New Ingerbelle copper process recovery of 88.5%, gold process recovery of 71%, and silver process recovery of 65% is based on geo-metallurgical domains, historical recoveries, and recent test work.
- Average bulk density is 2.78 tonnes per cubic metre (t/m3).
- Stockpile grades are approximations based on grade control results.
- Stockpile tonnes and grade based on production grade control process.
- Totals may not add due to rounding.
Mr. Stuart Collins, P.E., serves as the Qualified Person as defined by National Instrument 43-101 and is the Qualified Person for information regarding the Copper Mountain mine’s Mineral Reserve. Mr. Collins is mine technical services director at Copper Mountain and has reviewed and approved the Mineral Reserve estimate for the Copper Mountain Mine.
Copper Mountain Mine Resource Summary (as at December 31, 2021)
|COPPER MOUNTAIN OPERATION MINERAL RESOURCES (BASED ON A 0.10% CU CUT-OFF GRADE)|
- Mineral Resources were estimated using the December 31, 2021 mining surface for Copper Mountain Mine.
- Mineral Resources are constrained by a $3.50/lb Cu pit shell.
- Cut-off grade is based on copper grade only.
- Mineral Resources are inclusive of Mineral Reserves but do not include stockpiled material.
- Mineral Resources are reported at a 0.10% cut-off.
- Totals may not add due to rounding.
Mineral Resource QP:
The Mineral Resource estimate for the Copper Mountain mine was prepared by Mr. Peter Holbek, B.Sc (Hons), M.Sc. P. Geo, who is the Vice President, Exploration of Copper Mountain Mining Corporation. Mr. Holbek serves as the Qualified Person as defined by National Instrument 43-101. Mr. Holbek has reviewed and approved the Mineral Resource estimate for the Copper Mountain Mine.