YUKON – Capstone Mining Corp. of Vancouver has been granted the new water use licence at its Minto copper-gold mine 240 km northwest of Whitehorse. The licence is valid for all of the mineral reserves in phase 4.
Stripping can now begin for the shallow, high grade Minto North deposit. The first of the ore from the new pit will reach the mill in December 2015, and high grade ore will be added to the feed in Q2 2016. Currently the mill is treated underground and stockpiled ore; and that will continue. Next year the mill will process mostly Minto North material.
Mining began at the Minto mine in 2007 from the Main pit. In 2014. The mine produced 18,411 tonnes of copper in concentrates at a C1 cash cost of $2.33 per lb during 2014. The Minto North pit contains proven and probable reserves of 1.59 million tonnes grading 2.34% Cu, and 1.28 g/t Au. Total reserves at the property (including underground, pit and stockpiles) as of Dec. 31, 2014 were 7.66 million tonnes grading 1.71% Cu and 0.74 g/t Au.
See CapstoneMining.com for additional information.