BRITISH COLUMBIA – Abacus Mining & Exploration Corp. of Vancouver says the results of the updated Ajax copper-gold feasibility study are positive. The project is a joint venture of Abacus (20%) and KGHM Polska Miedz (80%).
Several changes were made in the updated study to improve economics. The surface facilities are now to be located on the south side of the pit, and the mining rate has been increased to 65,000 from 60,000 t/d. The use of in-pit semi-mobile crushers has been superseded by a single, fixed primary crusher. Thickened tailings management has been incorporated as have adjustments to the site water management plan.
The mine plan is now based on the extraction of 426 million tonnes of ore grading 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag. Annual output will be 48,000 tonnes of copper and 125,000 oz of gold in concentrate. A mine life of 18 years is projected.
Initial capital expenditures at Ajax are pegged at US$1.31 billion, and the project has a pre-tax net present value (8%) of $429.4 million. It would have a pre-tax internal rate of return of 13.4% with a 6.5-year payback.
More information about the Ajax project are available at AMEmining.com.