AQM Copper Releases Positive Preliminary Economic Assessment for the Zafranal Copper Gold Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/11/12 -- AQM Copper Inc. (TSX VENTURE: AQM)(BVL: AQM) ("AQM" or the "Company") is pleased to announce the completion of a positive, independent Preliminary Economic Assessment ("PEA") of the Company's Zafranal Project located in the Southern Peru Porphyry Copper Belt. Using long-term forecasted copper and gold prices of US$3.00/lb and US$1,274/oz respectively; the Project is projected to yield the following financial results:
The PEA was completed by Tetra Tech WEI Inc., ("Tetra Tech"), and contains production parameters, capital costs, operating costs, pre-tax and post-tax financial projections for an open pit mine processing 80,000 t/d of mill feed and a leach operation based on the treatment of approximately 20,000 t/d of oxide and secondary sulphide material. The reader should be aware that 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 mineral reserves. The reader should also be aware that there is no certainty that the results forecast in the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
PEA HIGHLIGHTS
Bruce Turner, President and Chief Executive Officer of AQM states, "We are very pleased with the PEA for the Zafranal Project, as it indicates the economic viability of the Project in a jurisdiction favourable to mining. In the preparation of the PEA, we did not find any serious flaws in the selected development scenario or any significant technical challenges in the proposed design and construction of the facilities. We did identify alternative approaches that could significantly enhance the feasibility of the Project's development including a smaller, less capital-intensive project focused on the higher-grade supergene zone, and the elimination of the desalination option for water supply, which represents $275M in capital cost and $20M per year in operating costs. These alternatives and other opportunities will be fully explored in the next stage of engineering, which is already underway. Our in-depth knowledge of the geology and mineralization on the Property has also led us to identify other anomalous zones and these will be explored in our 2013 field program that is currently being permitted."
PEA SUMMARY
LOCATION:
GEOLOGY:
MINERAL RESOURCE:
MINING:
MILLING:
LEACHING:
SITE ACCESS:
FRESH WATER SUPPLY AND DISTRIBUTION:
POWER SUPPLY AND DISTRIBUTION:
SOCIAL AND ENVIRONMENT:
INITIAL CAPITAL COSTS:
PRODUCTION QUANTITIES:
OPERATING COSTS
(5) Produced pounds of copper net of transport losses and smelter deductions.
FINANCIAL SENSITIVITIES:
Qualified Persons
The NI 43-101 Technical Report is being prepared by an integrated engineering team led by Tetra Tech in Vancouver, British Columbia, Canada. The Technical Report will be filed on SEDAR within 45 days. Further information regarding geology, sampling methods, data verification, QA/QC and assay lab is provided in the NI 43-101 Technical Report dated May 7, 2012, filed on SEDAR at or the Company's website at .
The following Qualified Persons have reviewed and approved the technical disclosure contained in this press release:
On Behalf of the Board
AQM COPPER INC.
Bruce L. Turner, President and Chief Executive Officer
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that AQM Copper Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
About AQM Copper
AQM Copper Inc. is a Canadian based mineral exploration company exploring and developing copper deposits in South America. Through its wholly owned Peruvian subsidiary, Minera AQM Copper Peru S.A.C., the Company is developing the Zafranal Copper-Gold Porphyry Project located in Southern Peru. Minera AQM Copper Peru S.A.C. is the operator of a 50/50 JV with Teck Resources Limited through a sole purpose Peruvian company formed for Zafranal as announced in its press release on July 8, 2010. Management and directors have extensive experience working for the world's largest mining copper producers. Please refer to the Company's website at , for further information regarding the Company and its projects.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts:
To speak with an Investor Relations representative:
Pinnacle Capital Markets LTD.
Spyros P. Karellas
(416) 433-5696 or (416) 800-8921
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.12.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 211450
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 161 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"AQM Copper Releases Positive Preliminary Economic Assessment for the Zafranal Copper Gold Project"
steht unter der journalistisch-redaktionellen Verantwortung von
AQM Copper Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
