Nevada Copper Files Integrated Feasability Study on SEDAR
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/09/15 -- Nevada Copper Corp. (TSX: NCU) ("Nevada Copper") (the "Company") is pleased to announce that it has completed, and SEDAR-filed, a National Instrument 43-101 ("NI 43-101") Integrated Feasibility Study Technical Report for its 100%-owned Pumpkin Hollow Copper Project located near Yerington, Nevada.
The Integrated Feasibility Study describes the proposed development of a 70,000 tons per day copper concentrator with mill feed from both open pit and underground mine operations. The Technical Report, entitled "NI 43-101 Technical Report Integrated Feasibility Study, Pumpkin Hollow Project Yerington, Nevada" ("IFS"), has an effective date of April 15, 2015. This technical report supersedes all previous technical reports on the Pumpkin Hollow Copper Project.
The IFS was prepared under the direction of Tetra Tech, Inc. ("Tetra Tech") with Stantec Consulting Services Inc. ("Stantec") having responsibility for the detailed underground mine design and underground capital cost estimation. Tetra Tech and Stantec are both industry-leading international engineering firms.
Highlights of the Integrated Feasibility Study (All dollar amounts are stated in United States currency)
Reserves and mine production are as reported in the May 28, 2015 press release however, certain costs differ slightly from previously reported amounts:
Annual copper production in concentrates and C1 operating costs:
Summary of Economic Results:
Capital Costs
The project initial capital costs are estimated at $1.04 billion with an accuracy of plus/minus 15% as of March 2015, including an initial contingency of $67 million. The contingency allowance is calculated based on assessed factors for each of the major Direct and Indirect cost categories.
The major direct cost items include development of the East underground mine, open pit mine equipment, leasing costs, North deposit pre-stripping, process plant, tailing storage facility, site infrastructure and offsite rail load-out facility. Indirect costs include such major areas as engineering and procurement, construction management, construction indirects, freight and commissioning, spares inventory, first fills, and Owners Costs.
Working capital required for initial operations is estimated to be $33 million.
LOM sustaining capital totals $0.63 billion and includes development costs associated with the E2 underground deposit and related equipment; South open pit deposit development costs; replacement of, and additions to, surface mobile equipment; expenditures on the tailings storage facility, and reclamation costs, net of salvage value at the conclusion of the project.
Operating Costs
LOM site unit operating cash costs, net of capitalized pre-stripping and other predevelopment costs, are $11.80 per ton-milled, as summarized in the table below:
Unit open pit mining cash costs average $5.34 per ton of open pit ore mined and milled. This equates to $1.16 per ton of open pit material mined, including waste and ore. Average LOM strip ratio for the North and South deposits is 3.59. Underground mining costs average $24.06 per ton of underground ore mined, excluding $1.25 for truck transport of ore to concentrator.
A power cost of $0.065/kwh was used for IFS purposes, based on NV Energy expected rates.
Qualified Persons
In November 2014 Nevada Copper commissioned Tetra Tech and Stantec to prepare an updated Pumpkin Hollow Project Integrated Feasibility Study Technical Report in accordance with NI 43-101. The scientific and technical information in this release has been reviewed and approved by Mr. Ed Lips, PE, of Tetra Tech, who is overall manager for the IFS and who is an Independent Qualified Person within the meaning of NI 43-101. It has also been reviewed by Mr. Mel Lawson, SME-RM, Principal/Senior Consulting Engineer, Stantec Consulting Services Inc. who is an Independent Qualified Person within the meaning of NI 43-101.
This release was also reviewed by Gregory French, P.G., Vice-President Exploration & Project Development of Nevada Copper, Timothy D. Arnold, PE, Vice President of Operations and Robert McKnight, P. Eng., Executive Vice-President of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.
Readers should refer to the IFS for further details of the project development. The IFS will be filed in accordance with NI 43-101 on SEDAR ().
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbour.
Contacts:
Nevada Copper Corp.
Eugene Toffolo
Corporate Communications
604-683-8266 or Toll free: 1-877-648-8266
Nevada Copper Corp.
Robert McKnight, P.Eng.
Executive Vice President
604-683-1309
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Datum: 09.07.2015 - 23:47 Uhr
Sprache: Deutsch
News-ID 405922
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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