Under the cloud of slumping base metal prices, advanced stage developer Nevada Copper
(TSX: NCU) says it remains on schedule at its wholly owned Pumpkin Hollow copper project near Yerington in west-central Nevada. The planned underground copper mine is slated for start-up by year-end, with a proposed second stage, open pit phase aiming to come online in 2023. The development project is touted by the company as one of two major North American copper projects currently in construction.
Based on its latest prefeasibility study, the 4,500-tonne-per-day underground mine is expected to produce 50 million lb. copper, 8,000 oz. gold and 150,000 oz. silver annually over its modelled 13.5-year mine life. Annual output over its first five years is modelled slightly higher at 60 million lb. copper, 9,000 oz. gold and 173,000 oz. silver. Proven and probable reserves (for the underground mining stage) are pegged at 23.9 million tons (21.7 million tonnes) grading 1.59% copper, with minor gold and silver credits. Pre-production capex for the underground mine comes in at US$197 million.
The company’s latest Pumpkin Hollow progress and construction update shows progress on both underground development and surface infrastructure …
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