ARIZONA – Taseko Mines of Vancouver has been granted the necessary permit to build, operate and close its Florence copper project test facility in the town of the same name. The Arizona Department of Environmental Quality authorized a 24-well in situ copper recovery operation.
The system includes both injection and recovery wells plus a state of the art solvent extraction and electrowinning facility to produce copper cathode.
Mineralization at the Florence copper project consists of oxide ore in bedrock. Probable reserves are 308 million tonnes grading 0.36% Cu and containing 2.42 billion lb of copper. Measured and indicated resources total 389 million tonnes grading 0.33% Cu and containing 2.84 billion lb of copper. There is also an inferred resource of 84 million tonnes at 0.27% Cu and containing 496 million lb of copper.
The preliminary economic assessment prepared in 2013 estimated that the initial capital cost would be US$120 million for a project with a 30-year life. With copper at US$3 per lb, the post tax net present value would be US$585 million and the internal rate of return would be 31%.
Visit www.TasekoMines.com/properties/florence-copper/photos-videos for project photos and videos.