ARIZONA – Vancouver-based Capstone Mining Corp. has completed the pre-feasibility study to extend the life of its Pinto Valley copper mine 125 km east of Phoenix, saying that reserves are sufficient to support production to 2039.
The PFS increases proven and probable reserves to 473.8 million tonnes grading 0.31% Cu. Average annual production will be 122.8 million lb of copper and 1.9 million lb of molybdenum in concentrate. Mill throughput will increase to 56,000 t/d in 2017 from its current 54,000 t/d. Milling increases are to be achieved through improved maintenance and operating practices. No significant capital is required until 2020 when additional stripping will be required in the pit.
Capstone will have to seek revisions for both its aquafer protection permit and its plan of operations covering the expansion of the mine and tailings management area.
The Pinto Valley property has a total measured and indicated resource of 1.42 billion tonnes grading 0.30% Cu and 0.007% Mo, containing 92.23 billion lb of copper and 224.1 million lb of moly. The inferred resource is 126.0 million tonnes grading 0.25% Cu and 0.005% Mo.
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