The low risk, low capital New Ingerbelle project deposit is located approximately one kilometre from the Company’s flagship operation, the Copper Mountain Mine. The Company has completed a base case Preliminary Economic Assessment, where is assumes that the material at New Ingerbelle will supplant the ore at its Copper Mountain mine and use its current mine equipment fleet and mill. The Company is studying operational alternatives for New Ingerbelle, including incorporating the material into the Copper Mountain mine plan using the existing mill or expanding the mill to increase future combined production.
|Ownership||75% Copper Mountain Mining Corporation
25% Mitsubishi Materials Corporation (MMC)
|Location||British Columbia, Canada|
|Deposit Type||Copper/Gold Porphyry|
|Mine Type||Conventional Open Pit|
|Process||Conventional Crush, Grind, Flotation|
|Expected Mine life(1)||12 years|
|Expected average annual production(1,2)||Approx. 115 million lbs of copper equivalent (Approx. 90M lbs of copper, 61 koz of gold, 195 Mlbs of silver)|
|After-tax Net Present Value (NPV) (8%)(1)||US$394M|
|After-tax Internal Rate of Return (IRR)||65%|
|End Product||Copper concentrate (with gold credits)|
(1) Based on the October 1, 2018 Preliminary Economic Assessment
(2) Years 1-5
Mineral Resource Estimate
|Total Measured and Indicated Resource|
CuEq% is based on metal content only, as historical recoveries have not yet been verified. Metal prices assumed in the calculation are US$2.75/lb Cu, US$1,250/oz Au, and US$16/oz Ag. The mineral resource has been contained within a US$3.50 per pound whittle pit shell. Mineral Resources that are not Mineral Reserves, do not have demonstrated economic viability. Numbers may not add due to rounding, contained metal calculated at 3 significant figures.
Note: The 2018 New Ingerbelle PEA is included within the Copper Mountain Mine 43-101 Technical Report under Section 24.