US Copper Corp Initiates an Updated Preliminary Economic Assessment on Entire Moonlight-Superior Project
US Copper Corp (TSXV: USCU) (OTCQB: USCUF) has engaged Global Resource Engineering to conduct an updated Preliminary Economic Assessment (PEA) on its entire Moonlight-Superior Copper Project in Northeast California. The project includes four copper deposits, with three hosting NI 43-101 resources. The new PEA aims to incorporate higher-grade ore from Superior and Engels deposits into the Moonlight mine plan, potentially enhancing project economics.
Recent drill programs at Superior (2021) and Engels and Moonlight (2023) were designed to upgrade resources and define higher-grade ore for potential starter pits. The updated PEA will also include a newly defined oxide resource at both Moonlight and Engels deposits, which could be economically extracted through low-impact surface mining and processed at lower costs than sulfide ores. Results of the PEA are expected by the end of 2024.
US Copper Corp (TSXV: USCU) (OTCQB: USCUF) ha incaricato Global Resource Engineering di condurre un aggiornamento della Valutazione Economica Preliminare (PEA) per l'intero progetto Moonlight-Superior Copper nel nord-est della California. Il progetto comprende quattro giacimenti di rame, di cui tre ospitano risorse secondo lo standard NI 43-101. La nuova PEA ha l'obiettivo di integrare minerali di alta qualità dai giacimenti Superior e Engels nel piano minerario di Moonlight, migliorando così l'economia del progetto.
I recenti programmi di perforazione a Superior (2021) e Engels e Moonlight (2023) sono stati progettati per aggiornare le risorse e definire minerali di alta qualità per potenziali miniere iniziali. La PEA aggiornata includerà anche una nuova risorsa ossidica sia nei giacimenti di Moonlight che di Engels, che potrebbe essere estratta economicamente tramite estrazione superficiale a basso impatto e trattata a costi inferiori rispetto ai minerali solfurei. I risultati della PEA sono attesi entro la fine del 2024.
US Copper Corp (TSXV: USCU) (OTCQB: USCUF) ha contratado a Global Resource Engineering para llevar a cabo una actualización de la Evaluación Económica Preliminar (PEA) de todo su proyecto Moonlight-Superior Copper en el noreste de California. El proyecto incluye cuatro depósitos de cobre, tres de los cuales cuentan con recursos según NI 43-101. La nueva PEA tiene como objetivo incorporar mineral de mayor grado de los depósitos Superior y Engels en el plan minero de Moonlight, lo que podría mejorar la economía del proyecto.
Los recientes programas de perforación en Superior (2021) y Engels y Moonlight (2023) fueron diseñados para actualizar los recursos y definir mineral de mayor grado para posibles minas iniciales. La PEA actualizada también incluirá un recurso oxidado recién definido tanto en los depósitos de Moonlight como en los de Engels, que podría ser extraído económicamente mediante minería superficial de bajo impacto y procesado a costos más bajos que los minerales sulfurosos. Se esperan los resultados de la PEA para finales de 2024.
US Copper Corp (TSXV: USCU) (OTCQB: USCUF)는 네바다 북동부의 Moonlight-Superior 구리 프로젝트에 대한 예비 경제 평가 (PEA)를 진행하기 위해 Global Resource Engineering과 계약했습니다. 이 프로젝트에는 4개의 구리 광상이 포함되어 있으며, 이 중 3개는 NI 43-101 자원을 보유하고 있습니다. 새로운 PEA는 Moonlight 채굴 계획에 Superior 및 Engels 광산의 고품질 광석을 통합하여 프로젝트 경제성을 강화하는 것을 목표로 합니다.
최근 Superior (2021) 및 Engels와 Moonlight (2023)에서의 시추 프로그램은 자원을 업그레이드하고 초기 발굴을 위한 고품질 광석을 정의하기 위해 설계되었습니다. 업데이트된 PEA에는 Moonlight 및 Engels 광산에서 새로 정의된 산화 자원
US Copper Corp (TSXV: USCU) (OTCQB: USCUF) a engagé Global Resource Engineering pour réaliser une mise à jour de l'Évaluation Économique Préliminaire (PEA) de l'ensemble de son projet Moonlight-Superior Copper dans le nord-est de la Californie. Le projet comprend quatre gisements de cuivre, dont trois hébergent des ressources selon le standard NI 43-101. La nouvelle PEA vise à intégrer des minerais de plus haute qualité des gisements Superior et Engels dans le plan minier de Moonlight, ce qui pourrait améliorer l'économie du projet.
Les récents programmes de forage à Superior (2021) et Engels et Moonlight (2023) ont été conçus pour mettre à niveau les ressources et définir des minerais de plus haute qualité pour d'éventuelles mines de démarrage. La PEA mise à jour inclura également une ressource oxydée nouvellement définie à la fois dans les gisements de Moonlight et d'Engels, qui pourrait être extraite de manière économique par des méthodes de minage de surface à faible impact et traitée à des coûts inférieurs à ceux des minerais sulfureux. Les résultats de la PEA sont attendus d'ici la fin de 2024.
US Copper Corp (TSXV: USCU) (OTCQB: USCUF) hat Global Resource Engineering beauftragt, eine aktualisierte Vorläufige Wirtschaftsprüfung (PEA) für das gesamte Moonlight-Superior Kupferprojekt im Nordosten Kaliforniens durchzuführen. Das Projekt umfasst vier Kupferlagerstätten, von denen drei NI 43-101-Ressourcen enthalten. Die neue PEA zielt darauf ab, hochgradige Erze aus den Lagerstätten Superior und Engels in den Plan der Moonlight-Mine zu integrieren, was die Wirtschaftlichkeit des Projekts potenziell verbessern könnte.
Die aktuellen Bohrprogramme bei Superior (2021) sowie Engels und Moonlight (2023) wurden entwickelt, um Ressourcen aufzuwerten und hochgradige Erze für mögliche Startgruben zu definieren. Die aktualisierte PEA wird auch eine neu definierte Oxidressource sowohl bei Moonlight als auch bei Engels beinhalten, die durch umweltfreundliche Oberflächenbergbauverfahren wirtschaftlich gewonnen und kostengünstiger verarbeitet werden kann als sulfidische Erze. Die Ergebnisse der PEA werden bis Ende 2024 erwartet.
- Inclusion of higher-grade ore from Superior and Engels deposits may enhance project economics
- Discovery of near-surface copper oxide caps at Moonlight and Engels deposits, potentially allowing for low-cost extraction
- Copper's addition to the U.S. critical minerals list may benefit the project
- Previous 2018 PEA on Moonlight deposit showed positive economics at $3.15/lb copper
- Results of the new PEA are not yet available, creating uncertainty about project viability
Toronto, Ontario--(Newsfile Corp. - August 8, 2024) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) ("US Copper" or the "Company") is pleased to announce that it has retained Global Resource Engineering of Denver, Colorado ("GRE") to complete a Preliminary Economic Assessment ("PEA") on its entire
Results of the PEA are anticipated by the end of this year.
The Moonlight-Superior Copper Project in Northeast California includes four known copper deposits (the "Project"), three of which host National Instrument 43-101 ("NI 43-101") resources, as referenced in the data section below. US Copper had a PEA prepared on the Moonlight deposit on a stand-alone basis in 2018, which demonstrated positive economics at US
Management Commentary
"Encouraged by the recent addition of copper to the U.S. critical minerals list, we look forward to conducting a preliminary economic assessment to evaluate the viability of a mining operation that includes our three deposits with NI 43-101 resources as well as the oxide caps at both our Moonlight and Engels deposits," commented Stephen Dunn, President and CEO of US Copper.
"Results from our exploration drill programs at Moonlight and Engels last year confirmed a near-surface copper oxide cap sits above the larger copper sulfide deposits below. These types of copper oxide deposits are found in the major copper mining districts of the world and can typically be economically extracted, usually through low-impact surface mining, and processed at lower cost than copper sulfide ores. Furthermore, acid leaching of oxide copper produces high grade copper cathodes, with grade A cathode typically selling for a premium," added Mr. Dunn.
Stephen Dunn also commented: "The Company is working hard to advance its Project back into production and is excited about the opportunity to be an integral supplier of the copper metal required by the U.S. domestic market for its energy transition. We are looking forward to working with GRE, and drawing upon the extensive knowledge of their team."
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by George Cole, M.Sc., Director of US Copper who is a "Qualified Person" as defined in NI 43-101 Standards of Disclosure for Mineral Projects. George Cole is a Registered Professional Geologist through AIPG (CPG-11687).
About US Copper Corp
US Copper controls approximately 10 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits - Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915 to 1930 producing over 161 million pounds of copper from over 4 million tons of rock containing
The Moonlight deposit was discovered and drilled by Placer Amex during the 1960s. Details of the resources on US Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 (the "2018 PEA") on both the Company's website at www.uscoppercorp.com and SEDAR+ at sedarplus.ca under the US Copper Corp profile.
The 2018 PEA, prepared by Tetra Tech Inc., had the following highlights:
- After-tax NPV: US
$179M at an8% discount rate and a US$3.15 copper price - After-tax IRR:
14.6% - Initial Capital Cost: US
$513M , including a contingency provision in the amount of US$71M - Plant Processing Rate: 60,000 tons per day (STPD)
- Average Copper Recovery:
86.0% - Mine Life: 17 years, based on the existing Mineral Resource estimate at Moonlight
- Life of Mine Copper Production: 1.5 billion pounds
The Moonlight sulfide deposit hosts a current NI 43-101 indicated resource of approximately 252 million tons (154 million tonnes) averaging
The Superior deposit is not included in the 2018 PEA and it hosts a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of
A PEA, as defined under the terms of NI 43-101, is an economic analysis intended to comment on the potential viability of a mineral project. A PEA analyzes and assesses geological, engineering, and economic factors to reach its conclusions. Please note the 2018 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Furthermore, there is no certainty that the 2018 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Readers are encouraged to read the technical report of the 2018 PEA.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219244
FAQ
What is the latest development for US Copper Corp (USCUF) regarding its Moonlight-Superior Project?
How many copper deposits does the Moonlight-Superior Project of US Copper Corp (USCUF) include?
What potential benefits does the copper oxide resource bring to US Copper Corp's (USCUF) project?
When are the results of the new Preliminary Economic Assessment for US Copper Corp (USCUF) expected?
