Projects:
Copper Mountain Mine
The Copper Mountain Mine is located 20 km south of Princeton BC, Canada and employees 390 workers. The mine commenced production in the summer of 2011 and is planned to produce 80 million pounds of copper in 2013 plus precious metal credits.
Project Snapshot
Ownership | 75% Copper Mountain Mining Corporation |
Location | 20 km south of Princeton, BC |
Infrastructure | Road Accessible, 300 km from Van |
Deposit Type | Porphyry (Alkalic) |
Mine Type | Open Pit |
Expected Mine Life | 17 years * |
2013 Cu Production Target | 80 Million Lbs |
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 | 390 |
Production Start Date | Summer 2011 |
Resource & Reserves
During 2007 and 2008 the company embarked on an extensive 106,000 meter drill program that increased the resources by 45%. A summary of the resource is in the table below:
| Measured Plus Indicated Resource | Inferred Resource | ||||||
| Cut–off %Cu | Tonnage (000's) | Grade | Contained Copper (lbs) | Tonnage (000's) | Grade | Contained Copper (lbs) | |
| 0.15 | 518,600 | 0.31 | 3,226,000,000 | 390,700 | 0.23 | 1,758,200,000 | |
| 0.20 | 359,560 | 0.37 | 2,682,800,000 | 186,710 | 0.29 | 1,064,200,000 | |
| 0.25 | 256,610 | 0.43 | 2,222,200,000 | 101,440 | 0.34 | 683,700,000 | |
| 0.30 | 189,180 | 0.49 | 1,857,600,000 | 53,130 | 0.40 | 420,800,000 | |
Table 1 – Resource Summary
The updated resource estimated was prepared by Giroux Consultants Ltd. of Vancouver, British Columbia, an independent qualified person as defined by Canada's National Instrument 43–101. According to the author of the Giroux Report, delineated mineralization of the Copper Mountain Deposit is classified as a resource according to definitions from NI 43–101 and from CIM (2005). Methods used in determining and reporting the resources are consistent with CIM Best Practices Guidelines for the estimation of mineral resources and mineral reserves.
The estimated mineral reserves for the Copper Mountain deposit are as follows:
Copper Mountain Mineral Reserves| Pit | Category | Tons | Grade | ||
| (000's) | %Cu | Au g/t | Ag g/t | ||
| Pit 1 | Proven Ore | 11,605 7,971 | 0.33 0.29 | 0.07 0.07 | 1.18 1.01 |
| Subtotal | 19,576 | 0.31 | 0.07 | 1.11 | |
| Pit 2 | Proven Ore Probable Ore | 41,507 26,671 | 0.30 0.27 | 0.11 0.10 | 0.83 0.76 |
| Subtotal | 68,178 | 0.29 | 0.11 | 0.80 | |
| Pit 3 | Proven Ore Probable Ore | 95,551 46,883 | 0.43 0.35 | 0.10 0.08 | 1.59 1.25 |
| Subtotal | 14,2434 | 0.40 | 0.09 | 1.47 | |
| Oriole | Proven Ore Probable Ore | 2,588 | 0.34 | 0.04 | 1.83 |
| Subtotal | 2,588 | 0.34 | 0.04 | 1.83 | |
| Total | Proven Ore Probable Ore | 148,663 84,113 | 0.38 0.32 | 0.10 0.08 | 1.34 1.09 |
| Subtotal | 232,776 | 0.36 | 0.09 | 1.25 | |
Key inputs to the mineral reserves estimate included:
- Recovery of copper was 89.22%
- Copper price in $US/lb was set to $1.80
- Exchange rate was $CAN 1 = $US 0.80, and
- Cut–off grade = 0.15% Cu.
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.