Projects:
Copper Mountain Mine


The Copper Mountain Mine is located 20 km south of Princeton BC, Canada and has a workforce of 420 employees. The 2016 production target is 80 million pounds of copper (+/– 5%), plus gold and silver by–products.


Project Snapshot

Ownership

75% Copper Mountain Mining Corporation
25% Mitsubishi Materials Corporation

Location

20 km south of Princeton, BC

Infrastructure

Road Accessible, 300 km from Vancouver

Deposit Type

Porphyry (Alkalic)

Mine Type

Open Pit

Expected Mine Life

17 years *

2016 Cu Production Target

80 Million Lbs (+/– 5% )

Secondary Metals

Gold & Silver

Resource (NI43–101)

5 Billion lbs of Cu with precious metal credits

Process

Floatation

End Product

Cu (+ Au, Ag) Concentrate

Employees on site

420

* Based on 2013 AIF disclosure

Mineral Resource and Mineral Reserve Estimation

The Copper Mountain mine mineral reserves are as at December 31–2013. The proven and probable reserves as of December 31, 2013 are tabulated in Table 1 below and are NI 43–101 compliant.

Table 1 Reserve Summary

Reserves1
(0.18 % Cu cutoff)
Tonnage
Mt
Copper
%
Silver
g/t
Gold
g/t
Copper Eq2
%
Copper
M lbs
Silver
M oz
Gold
M oz
Proven 72 0.36 1.70 0.13 0.44 568 3.94 0.29
Probable 73 0.32 1.06 0.11 0.39 512 2.49 0.25
PP 145 0.34 1.38 0.12 0.42 1,080 6.42 0.54
Reserves2
(0.12 % Cu cutoff)
Tonnage
Mt
Copper
%
Silver
g/t
Gold
g/t
Copper Eq2
%
Copper
M lbs
Silver
M oz
Gold
M oz
Proven 96 0.31 1.42 0.12 0.39 648 4.38 0.34
Probable 110 0.26 0.88 0.09 0.32 633 3.13 0.32
PP 217 0.27 1.07 0.10 0.33 1,281 7.50 0.66
      1. Includes the Superpit, Oriole and Virginia using a cutoff grade of 0.18 % Cu
      2. Low grade ore between 0.12 % Cu – 0.18 % Cu to be stockpiled and processed at end of mine life
      3. Prices used for copper equivalent were US $3.30/lb copper, US $1400/oz gold and US $23/oz silver with metallurgical recoveries of 84% for copper, 70% for gold and 55% for silver and standard treatment and refining costs applied.

The mineral reserves stated above are contained within the mineral resources indicated in Table 2 below:

Table 2 Resource Summary

Resources
(0.18 % Cu cutoff)
Tonnage
Mt
Copper
%
Silver
g/t
Gold
g/t
Copper Eq2
%
Copper
M lbs
Silver
M oz
Gold
M oz
M & I 314 0.33 1.32 0.11 0.40 2,290 13.30 1.12
Inferred 324 0.28 0.56 0.07 0.32 1,980 3.08 0.38
Resources
(0.12 % Cu cutoff)
Tonnage
Mt
Copper
%
Silver
g/t
Gold
g/t
Copper Eq2
%
Copper
M lbs
Silver
M oz
Gold
M oz
M & I 495 0.26 1.05 0.09 0.32 2,678 15.20 1.34
Inferred 631 0.21 0.48 0.06 0.25 2,957 4.62 0.63

Mine Details

The Copper Mountain Mine site covers approximately 18,000 acres and consists primarily of 135 crown grants, 176 mineral claims and 14 mining leases. Copper Mountain is located in an area with well–developed infrastructure. The property is accessible by a combination of highways and paved roads, and it is close to the port of Vancouver that provides service for shipment of copper concentrates. The mine is a 20–minute drive from local communities that provide goods, services and personnel.