Nevada Copper Releases Updated Development Objectives for Pumpkin Hollow Project, Nevada
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Nevada Copper released an update on its development objectives for its Pumpkin Hollow project.
The company’s updated development objectives reflect internal studies regarding project optimization and expansion options, as well as the evolution of the copper market. These development objectives aim to further demonstrate the potential of Nevada Copper’s large strategic land holding and organic pipeline.
“We are pleased to outline our 2021 development objectives. While remaining focused on safely ramping up the underground mine to full capacity, our team is also looking ahead at growth initiatives,” said Mike Ciricillo, chief executive officer.
“We are fortunate to have such growth opportunities within the Pumpkin Hollow project district, including one of the few fully permitted, large-scale copper projects in North America today. Our strategic landholding with multiple copper targets provides an organic growth pipeline, allowing us to leverage our knowledge of the region and highly capable and dedicated team,” added Ciricillo.
Highlights of the Development Objectives
• Prioritized development objectives to advance Nevada Copper’s three key growth opportunities:
- Optimization and expansion of the fully permitted open pit project
- Exploration of the company’s multiple near-mine targets
- Expansion and extension of the producing underground mine
• Open Pit Advancement:
- Internal studies indicate optimized project scaling has potential to significantly improve project economics,
including a concurrent phase 1 and phase 2, plus potential larger ultimate production scale
- Infill and extension drilling with aim to bring newly defined mineral inventory into reserves – Conversion of
known inferred resources also has potential to further improve project economics
- The company expects to release a resource and reserve update following drilling
• Property Exploration:
- Property has been further expanded to the east, adding multiple targets
- Geophysical surveys have identified multiple new targets
- Drilling plans defined to follow-up on high-potential targets
• Underground Future Extension:
- Inferred conversion: Significant additional inferred resources to be in-filled as underground mining advances
into new zones
- Exploration: Multiple underground mine extension targets to be further evaluated, including a new potentially
large target to the east of the main shaft that is previously untested
- Expansion: Future expansion potential to be studied post achievement of steady-state production
The company anticipates that the development work described above will commence in 2021 after the completion of the ramp-up of the underground mine and will continue beyond year end. The work is expected to be completed in stages according to the company’s strategic priorities at the time and will be subject to the availability of the company’s cash resources.
The underground mine main shaft was originally constructed with a design capacity that exceeds the currently planned mine production rates. Following achievement of sustainable steady-state production, the company expects to continue to evaluate future opportunities to leverage the original shaft design capacity and potential expandability of mill throughput with the aim to expand long-term production rates.
About Nevada Copper
Nevada Copper is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
To stop by Nevada Copper’s website, CLICK HERE
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