COPPER-GOLD STUDY: Robust economics for Harper Creek mine

BRITISH COLUMBIA – Yellowhead Mining of Vancouver says the feasibility study for the Harper Creek copper-gold mine 150 km by road from Kamloops outlines “robust economics” for the project. The study is based on a large open pit mine and 70,000-t/d concentrator.

Yellowhead puts the pre-tax net present value (8%) at $750 million with an internal rate of return of 20.2% over a 28-year project life. Life of mine onsite cash operating costs, including precious metals credits, will be US$0.95/lb of copper. The crushing and grinding circuits have been optimized for the feasibility study, and the pre-production costs will be $839 million (including contingency). Sustaining capital will come to $293 million.

Total mineable proven and probable reserves are 704 million tonnes at 0.262% Cu, 0.029 g/t Au and 1.14g/t Ag.

Read the March 2012 presentation at YellowheadMining.com to find the details of the project.