Nevada Copper Commences Production at Pumpkin Hollow
December 15 2019 - 11:00PM
Nevada Copper Corp. (TSX: NCU) (“
Nevada
Copper” or the “
Company’’) is pleased to
announce that production has now commenced at Pumpkin Hollow’s
processing plant in Yerington, Nevada.
News Highlights
- Copper production has
commenced1;
- First shipment of concentrate and
first revenues expected in coming weeks; and
- Ramp-up to full scale commercial
production at the Pumpkin Hollow underground mine underway through
H1, 2020.
Underground Project
Highlights2
- Strong and growing
production profile: 65 million lbs of annual copper
equivalent production3 with material further expansion
potential;
- Low operating
costs: Following ramp-up, projected all-in sustaining
costs of US$1.86/lb4;
- Long life with significant
resource growth: Current mine life of 13.5 years of
reserves, with a further 636 million lbs of inferred
resources;
- Strong environmental and
social stewardship in low-risk jurisdiction: Nevada rated
as world number one mining jurisdiction by Fraser Institute; strong
community ties and best practice environment protections including
dry stack tailings;
- Exceptional organic growth
profile: Clear path for ongoing growth through open pit
project and advanced-stage regional exploration targets across
large land package; and
- Strategic positioning
through first mover advantage: Pumpkin Hollow hosts the
only processing facility in a substantial re-emerging copper
district.
Pumpkin Hollow Videos
- A time lapse video showing the
construction of the processing plant can be viewed here.
- A video of the processing plant in
action can be viewed here.
Matt Gili, Chief Executive Officer of Nevada
Copper, stated “I am delighted that Pumpkin Hollow has commenced
concentrate production, making it the first new copper producer in
the US in over a decade. This is a transformational moment for
Nevada Copper, and I want to thank our team, construction and
finance partners for their dedication throughout this process.
Considering the construction decision was made only sixteen months
ago, it is a remarkable achievement to have reached this point on
schedule and it speaks to the commitment of our team and the
support of our shareholders and stakeholders.”
“Commencement of production is monumental for
Nevada Copper, but is just the first key milestone for the
Company,” Gili added. “Pumpkin Hollow has multiple avenues for
growth, including an advanced-stage, large-scale open pit project
and our significant regional exploration targets.”
Qualified PersonsThe
information and data in this news release was reviewed by David
Swisher, P.E., SVP of Operations for Nevada Copper, who is a
non-independent Qualified Person within the meaning of NI
43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer
and owner of the Pumpkin Hollow copper project. Located in Nevada,
USA, Pumpkin Hollow has substantial reserves and resources
including copper, gold and silver. Its two fully permitted projects
include the high-grade Underground Mine, and a large-scale open pit
project which is advancing towards feasibility status.
Additional Information
For further information please visit the Nevada Copper corporate
website (www.nevadacopper.com).
NEVADA COPPER CORP.
Matthew Gili, President and CEO For further information
call:
Rich Matthews,VP Investor RelationsPhone: 604-355-7179Toll free:
1-877-648-8266 Email: rmatthews@nevadacopper.com
We seek safe harbour.
______________________
1 Using development ore stockpiled on surface
during construction2 For more information please see NI 43-101
Technical Report: Nevada Copper Corp. Pumpkin Hollow Project, Open
Pit and Underground Mine Prefeasibility Study (PFS) with an
effective date of January 21, 20193 Year 1-5 average4 Years 1-5
average. AISC is defined as C1 plus sustaining capital
expenditures. AISC is a Non-IFRS measure.
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