Copper Mountain Mining is continuing drilling at its Eva copper project, 95km north-east of Mount Isa, where it says the Blackard deposit may boost high-grade tonnages.
In its quarterly report, the company said the current drill program was testing additional exploration targets near the project’s main deposit, Little Eva, as well as to support metallurgical studies and down dip extensions of the Blackard deposit.
“Blackard is not currently included in the Eva copper feasibility study and has the potential to add a material volume of high-grade tonnage to the existing planned mill feed,” it said.
“Following completion of this year’s drill program and metallurgical testwork, the company will incorporate the results into an updated Eva copper feasibility study planned for announcement in Q1 2020.”
A feasibility study completed late last year indicated the copper-gold project could be brought online at a capital cost of $US350 million and have a mine life of 12 years, with annual average production around 90 million pounds of copper and 19,000 ounces of gold. Concentrate from Eva would go to Glencore’s Mount Isa smelter.
“The results of the Eva Feasibility Study clearly demonstrate the quality and size of this asset,” Copper Mountain president and chief executive officer Gil Clausen said at the time.
“Eva has the potential to add significant cashflow to our operating base, at one of the lowest capital intensities for near-term greenfield projects anywhere, in the best mining jurisdiction in the world.”