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Canada

New Prosperity Project

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Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotTaseko’s New Prosperity property hosts one of the most significant copper and gold deposits in Canada.

The Taseko does not consider the New Prosperity Project to be material at this time.

In late 2019, the Tsilhqot’in Nation, and Taseko entered into a confidential dialogue, with the involvement of the Province of British Columbia, seeking a long-term resolution of the conflict regarding Taseko’s proposed copper-gold mine previously known as New Prosperity, acknowledging Taseko’s commercial interests and the Tsilhqot’in Nation’s opposition to the project.

The dialogue process has made meaningful progress in recent months but is not complete. In March 2024, Tsilhqot’in and Taseko formally reinstated the standstill agreement for a final term, with the goal of finalizing a resolution before the end of this year.

Cautioned that the Prosperity Technical Report has not been updated since 2009 and accordingly, caution needs to be advised when assessing its conclusions.

Owners

SourceSource
CompanyInterestOwnership
Taseko Mines Ltd. 100 % Indirect

Contractors

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Deposit type

  • Porphyry

Summary:

The project is located within the western-most portion of the Intermontane Belt at the boundary between the Intermontane and Coast morphologic belts. The project hosts a large porphyry gold-copper deposit. Pyrite and chalcopyrite are the principal sulphide minerals in the deposit. They are uniformly distributed in disseminations, fracture fillings, veins and veinlets. Native gold occurs as inclusions in and along microfractures with copper-bearing minerals and pyrite. The Prosperity deposit is predominantly hosted in Cretaceous andesitic volcaniclastic and volcanic rocks which are transitional to a sequence of sparsely mineralized, volcanically-derived sedimentary rocks to the south. The andesitic volcaniclastics are comprised of coarse-grained crystal tuff and ash tuff, and thinly bedded tuff with lesser lapilli tuff. The upper eastern portion of the deposit is hosted by subvolcanic units of crowded feldspar porphyritic andesite and thick feldspar and hornblende porphyritic flows. In the western portion of the deposit, the multi-phase Fish Creek Stock has intruded into a thick sequence of andesite flows which overlay volcaniclastic rocks. The steeply south-dipping, oval quartz diorite stock, which is approximately 265 m wide by 800 m long, is surrounded by an east-west trending swarm of subparallel quartz-feldspar porphyritic dikes, which also dip steeply to the south. Together the stock and dikes comprise the Late Cretaceous Fish Lake Intrusive Complex that is spatially and genetically related to the deposit. Post-mineralization porphyritic diorite occurs as narrow dikes that cross-cut all units within the deposit. They represent the final intrusive phase of the emplacement of the Fish Lake Intrusive Complex. The deposit area is overlain by a variably thick overburden cover consisting of Wisconsinian glacial till, Miocene to Pliocene basalt flows, and Tertiary colluvium and lacustrine sediments. The deposit is oval in plan and is approximately 1500 m long, 800 m wide and extends to a maximum depth of 880 m. A central potassium silicate alteration zone is co-extensive with the gold-copper mineralization. Along the deposit’s eastern margin, a discontinuous zone of phyllic alteration is developed at the boundary between the potassium silicate alteration zone and the surrounding propylitically altered rocks. The latter extend outward from the deposit for several hundred metres. Late stage sericite-iron carbonate alteration forms irregular zones, particularly within the potassium silicate alteration zone. Argillic alteration is localized along fault zones and overprints earlier alteration assemblages. Pyrite and chalcopyrite are the principal sulphide minerals in the deposit. They are uniformly distributed as disseminations, fracture-fillings and sub-vertical veinlets and may be accompanied by bornite and lesser molybdenite and tetrahedrite-tenantite. The latter results in somewhat elevated levels of arsenic, antimony, and mercury in some parts of the deposit. Native gold occurs as inclusions in, and along microfractures with, copper-bearing minerals and pyrite. Latestage pyrite-base metal veins, up to several centimetres in width, are most abundant within the upper eastern portion of the deposit. Gold-copper mineralization within the Prosperity deposit is intimately related to potassium silicate alteration and a later, superimposed sericite-iron carbonate alteration. This is particularly true within a central, east-west trending ovoid zone that hosts the majority of the mineralization. Chalcopyrite-pyrite mineralization and associated copper and gold concentrations are distributed relatively evenly throughout the host volcanic and intrusive units in the deposit. A sedimentary unit, which is located in the upper southeastern part of the mineralized zone, is sparsely mineralized. Post mineralization porphyritic dikes are essentially barren. Sulphide minerals show the thoroughly dispersed mode of occurrence characteristic of porphyry copper deposits. Sulphides occur in relatively equal concentrations as disseminations, blebs and aggregates in mafic sites, as fracture fillings and as veinlets. Disseminated sulphide mineralization is marginally more prevalent than veinlets in intrusive rocks while in volcanic rocks the reverse was noted.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Copper Metal in concentrate M lbs 1072,048
Gold Metal in copper conc. oz 247,0004,692,247
Silver Metal in copper conc. oz 10,800,000
Copper Concentrate kt 200

Operational metrics

Metrics
Daily ore mining rate 70,000 t *
Daily mining capacity 117,400 t *
Daily milling rate 70,000 t *
Daily milling capacity 70,000 t *
Annual ore mining rate 25,560,000 t *
Annual milling rate 25,560,000 t *
Stripping / waste ratio 0.82 *
Ore tonnes mined, LOM 487,145 kt *
Total tonnes mined, LOM 886,080 kt *
Tonnes milled, LOM 486,789 kt *
* According to 2007 study.

Production Costs

CommodityUnitsEstimated
Credits (by-product) Copper USD -1.32 / lb *  USD
Cash costs Copper USD 1.75 / lb *  USD
Cash costs Copper USD 0.43 / lb * **  USD
Assumed price Copper USD 1.5 / lb *  USD
Assumed price Silver USD 8 / oz *  USD
Assumed price Gold USD 575 / oz *  USD
* According to 2007 study / presentation.
** Net of By-Product.

Operating Costs

Currency2024
OP mining costs ($/t mined) CAD 1.14 *  CAD
OP mining costs ($/t milled) CAD  ....  Subscribe
Processing costs ($/t milled) CAD  ....  Subscribe
G&A ($/t milled) CAD  ....  Subscribe
Total operating costs ($/t milled) CAD  ....  Subscribe
* According to 2007 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
Total CapEx $M CAD  ......  Subscribe
Total OpEx $M CAD  ......  Subscribe
Mining Taxes $M CAD  ......  Subscribe
Gross revenue (LOM) $M CAD  ......  Subscribe
EBITDA (LOM) $M CAD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscribe
Pre-tax NPV @ 7.5% $M CAD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 1, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 1, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 1, 2024
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....................... Subscription required ....................... Subscription required Subscription required Apr 1, 2024

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2007

Aerial view:

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