Nevada Copper Completes Key Underground Milestone
December 29 2020 - 06:30AM
Nevada Copper Corp. (TSX: NCU) (OTC:NEVDF) (“Nevada Copper” or the
“Company’’) is pleased to announce the completion of the
underground materials handling system of the main shaft. The
materials handling system represents a significant milestone in the
construction of the Company’s underground project which included
sinking the vent shaft, sinking the main shaft, and construction of
the processing plant. The completion of this milestone allows
for a significant increase in hoisting rates, from currently 1000
tpd to ultimately 5000 tpd once commissioning and ramp-up are
completed. This is expected to enable the underground mine to
deliver substantially higher volumes of ore directly from the mine
to the processing plant.
Mike Ciricillo CEO of Nevada Copper comments, “I
am very pleased we have achieved this construction milestone. With
the completion of the materials handling system, we can now utilize
the full hoisting capacity of the main shaft as we ramp up the mine
towards full production. The team, both Nevada Copper and
contractor employees, worked hard, worked together, and more
importantly, worked safely, to achieve this result. I’m proud of
the team and proud to be a part of Nevada Copper.”
Qualified PersonsThe
information and data in this news release was reviewed by Greg
French, C.P.G., and David Sabourin, P.E, for Nevada Copper, who are
non-independent Qualified Persons 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 processing facility,
which is now in the production stage, and a large-scale open pit
project, which is advancing towards feasibility status.
NEVADA COPPER CORP.www.nevadacopper.com
Mike Ciricillo, President and CEOFor
further information contact:Rich Matthews, Investor
RelationsIntegrous Communicationsrmatthews@integcom.us+1 604 355
7179
Cautionary Language
This news release includes certain statements
and information that constitute forward-looking information within
the meaning of applicable Canadian securities laws. All statements
in this news release, other than statements of historical facts are
forward-looking statements. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements that relate to mine development, production
and ramp-up plans and the expected results thereof.
Often, but not always, forward-looking
statements and forward-looking information can be identified by the
use of words such as “plans”, “expects”, “potential”, “is
expected”, “anticipated”, “is targeted”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes”
or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or information are subject to known or
unknown risks, uncertainties and other factors which may cause the
actual results and events to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements or information.
Forward-looking statements or information are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the
forward-looking statements or information, including, without
limitation, risks and uncertainties relating to: the ability of the
Company to complete the ramp-up of the Pumpkin Hollow underground
mine within the expected cost estimates and timeframe; the state of
financial markets; the impact of COVID-19 on the business and
operations of the Company; history of losses; requirements for
additional capital and no assurance can be given regarding the
availability thereof; dilution; adverse events relating to milling
operations, construction, development and ramp-up, including the
ability of the Company to address underground development and
process plant issues; ground conditions; cost overruns relating to
development, construction and ramp-up of the Pumpkin Hollow
underground mine; loss of material properties; interest rates
increase; global economy; limited history of production; future
metals price fluctuations; speculative nature of exploration
activities; periodic interruptions to exploration, development and
mining activities; environmental hazards and liability; industrial
accidents; failure of processing and mining equipment to perform as
expected; labor disputes; supply problems; uncertainty of
production and cost estimates; the interpretation of drill results
and the estimation of mineral resources and reserves; changes in
project parameters as plans continue to be refined; possible
variations in ore reserves, grade of mineralization or recovery
rates from management’s expectations and the difference may be
material; legal and regulatory proceedings and community actions;
the outcome of disputes with the Company’s contractors; accidents;
title matters; regulatory approvals and restrictions; increased
costs and physical risks relating to climate change, including
extreme weather events, and new or revised regulations relating to
climate change; permitting and licensing; volatility of the market
price of the Company’s common shares; insurance; competition;
hedging activities; currency fluctuations; loss of key employees;
other risks of the mining industry as well as those risks discussed
in the Company’s Management’s Discussion and Analysis in respect of
the year ended December 31, 2019 and in the section entitled “Risk
Factors” in the Company’s Annual Information Form dated May 15,
2020. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements or information. The forward-looking
information and statements are stated as of the date hereof. The
Company disclaims any intent or obligation to update
forward-looking statements or information except as required by
law.
The Company provides no assurance that
forward-looking statements and information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and information.
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