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Copper Mountain Mine

Overview

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 40 ktpd plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits. Plant throughput is expected to increase to 45 ktpd in 2020 with the installation of a third ball mill. With the plant expansion, average annual production is expected to increase to 116 million pounds of copper equivalent from 90 million pounds of copper equivalent.

Based on reserves only, and with the integration of New Ingerbelle, which is located one kilometer from the Copper Mountain mine, the operation’s current mine life is expected to be approximately 31 years. Further potential exists through the upgrading of resources to reserves and further exploration.

Project Snapshot

Ownership75% Copper Mountain Mining Corporation
25% Mitsubishi Materials Corporation (MMC)
Location20 km south of Princeton, B.C. (Canada)
Deposit Type
(Copper Mountain
Mine and New
Ingerbelle)
Copper/Gold Porphyry
Mine TypeConventional Open Pit
ProcessConventional Crush, Grind, Flotation
Expected Mine life31 years (based on reserves only)
2018 Production92.4 million lbs of copper equivalent
End ProductCopper Concentrate (with Gold and Silver)

Mineral Reserve and Mineral Resource

A summary of the Mineral Reserve and Mineral Resource for the Copper Mountain Operation is provided below. The Mineral Reserve is included in the Mineral Resource and the effective date of the Mineral Reserve and Mineral Resource is August 1, 2019.

MINERAL RESERVES

 

Tonnes
(‘000s)

Copper
(%)

Gold
(g/t)

Silver
(g/t)

Copper
(M lbs)

Gold
(k oz)

Silver
(koz)

 

 

 

 

 

 

 

 

  Proven

205,391

0.25

0.09

0.87

1,134

621

5,746

  Probable

271,404

0.22

0.11

0.62

1,337

932

5,378

Proven & Probable

476,795

0.23 

0.10

0.73 

2,470 

1,553 

11,125 

    Mineral Reserve Notes:
1.       Joint Ore Reserves Committee (JORC) and CIM Definition Standards were followed for Mineral Reserves.
2.       Mineral Reserves were generated using the August 1, 2019 mining surface.
3.       Mineral Reserves are reported at a 0.10% Cu cut-off grade based on an Equivalent NSR cut-off.
4.       Mineral Reserves are reported using long-term copper, gold, and silver prices of $2.75/lb, $1,300/oz, and $16.50/oz, respectively.
5.       To define Mineral Reserves, average copper process recoveries of 80% for Main Pit and 88.5% for Main Pit North, gold process recovery of 65%, and silver process recovery of 70%.
6.       Average bulk density is 2.78 tonnes per cubic metre (t/m3).
7.       Stockpile grades are approximations based on grade control results.
8.       Stockpile tonnes and grade based on production grade control process.

Mineral Resource

At a 0.10% Cu cut-off grade

Tonnes
(‘000s)

Copper
(%)

Gold
(g/t)

Silver (g/t)

Copper
(M lbs)

Gold
(K oz)

Silver
(K oz)

 

 

 

 

 

 

 

 

  Measured

192,951

0.27

0.11

0.97

1,148

657

6,030

  Indicated

405,898

0.22

0.10

0.62

1,937

1,338

8,042

Total Measured & Indicated

598,850

0.23

0.10

0.73

3,084

1,995

14,072

 

 

 

 

 

 

 

 

Inferred

276,389

0.20

0.10

0.50

1,229

877

4,437

Mineral Resource Notes:
1.       Joint Ore Reserves Committee (JORC) and CIM Definition Standards were followed for Mineral Resources.
2.       Mineral resources were estimated between the August 1, 2019 mining/topographic surface and Whittle Pit shell generated using US$3.50/lb Cu price
3.       Mineral Resources are reported at the 0.10% Cu cut-off (reserve) grade and various process cut-off grades dependant on NSR value the mineralization.
4.       Average bulk density is 2.78 tonnes per cubic metre (t/m3).

Technical Report

Copper Mountain Mine NI 43-101 Technical Report (2019)

Copper Mountain Mine NI 43-101 Technical Report (2018)

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