YUKON SHERWOOD COPPER CORP. of Vancouver says the Minto copper-gold feasibility study supports its decision to bring the deposit into production next year. The study was prepared by HATCH LTD. and other consultants.
The Minto open pit and mill would cost an estimated $86.7 million to develop, not including contingencies and owners' costs. Head grades are anticipated to be 2.4% Cu and 0.88 g/t Au over the first six years. The project would have an average annual production rate of 40.7 million lb of copper, 17,150 oz of gold and 250,000 oz of silver over the same six years, paying for the initial investment in only 2.5 years.
Sherwood has begun development and already completed most of the site preparation and camp expansion. As of the beginning of July, pre-stripping operations had removed over 1.0 million tonnes of material.
The deposit contains an estimated 9.06 million tonnes of measured and indicated resources at 1.78% Cu, 0.62 g/t Au and 3.8 g/t Ag. Additional details are posted at www.SherwoodCopper.com.
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