SMM10, March 9: Nevada Copper Company (Nevada Copper Corp.) The latest development of its 100 per cent-owned Pumpkin Hollow underground copper project has been released. The company reiterated that the project was expected to start in the fourth quarter of 2019 and said the latest capital expenditure was estimated at $211 million.
The underground mine has copper reserves of 24 million tons and a copper equivalent grade of 1.74%. Over the next 13.5 years, the average annual production of copper is expected to reach 50 million pounds (about 22679.6 metal tons), with an annual production of 8000 ounces of gold and 150000 ounces of silver.
The results of the preliminary feasibility study (PFS) carried out this year show that the mineral resources identified and presumed by the project reach 553 million tons, with a copper grade of 0.45%, a gold grade of 0.07g / ton and a silver grade of 1.85g / ton. This is equivalent to 5 billion pounds of copper, 879000 ounces of gold and 29.78 million ounces of silver.
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