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United States
Copperstone Mine

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 Location:
209 km NW from Phoenix, Arizona, United States

  Project Contacts:
Arizona Route 95 N, Milepost 121.5
Quartzite
Arizona, United States
85346
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  • Overview
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  • Processing
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Overview

StageRestarting
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Mechanized Cut & Fill
  • Cemented backfill
Production Start...
Mine Life4.4 years (as of Jan 1, 2018)
Further engineering and refinement was completed in 2022 on the processing facility with plans to incorporate a Whole Ore Leach (“WOL”) process followed by Merrill-Crowe recovery and onsite refining. Plant lay-out and flowsheets with associated capital and operating cost estimates were completed. Engineering is estimated at 75% complete. Metallurgical testing is complete, indicating excellent gold recovery. Final equipment sizing has been completed and updated engineering drawing are in progress.


Owners

Source: p. 7
CompanyInterestOwnership
Sabre Gold Mines Corp. 100 % Indirect

Contractors

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Deposit Type

  • Vein / narrow vein
  • Volcanic hosted
  • Epithermal


Summary:

The Copperstone deposit is a mid-Tertiary, detachment fault related gold deposit. Mineralization is predominantly controlled by the northwest trending shallow angle Copperstone fault and shear zone. These structures are not confined to any lithologic unit, although the majority of the mineralization is hosted in quartz latite porphyry. Breccia textures as well as chloritization, silicification, and hematite and specularite flooding are reliable indications of gold mineralization.

The Copperstone deposit is presently best described as a mid-Tertiary, detachment-fault related gold deposit. Detachment faults are low-angle (up to 30°) normal faults of regional extent that have accommodated significant regional extension by upward movement of the foot-wall (lower-plate) producing horizontal displacements on the order of tens of kilometers. Common features of these faults are supracrustal rocks in the upper-plate on top of lower-plate rocks that were once at middle and lower crustal depths, mylonitization in lower plate rocks that are cut by the brittle detachment fault, and listric and planar normal faults bounding half-graben basins in the upper plate (Davis and Lister, 1988).

Salem (1993) suggests that the Copperstone deposit might be further classified as a new sub-set of volcanic-hosted epithermal precious-metal deposits, postulating that Copperstone was created during a late stage of detachment faulting, and that localization of gold deposition was cont ........


Mining Methods

  • Mechanized Cut & Fill
  • Cemented backfill


Summary:

The Copperstone Mine had historic open pit production from 1987 through 1993 by Cyprus and in 2012 American Bonanza Gold Corp started underground mining from two declines which were developed in the bottom of the open pit. American Bonanza’s mining focused on the D zone, which is to the north of the open pit, and mined 163,000 t of ore form January 2012 to July 2013. Due to the historic underground mining that has taken place on the property and the exploration drift developed by Kerr in the summer of 2017 there is a currently 12,800 ft of access development. This existing access includes two declines from the bottom of the pit and extends across 500 ft of strike. Therefore, a reduced amount of development is required to get the mine up to full production. The PFS mine plan for the Coppertone Project includes approximately 884,100 tons of mineral reserves to be extracted by underground mining in 4.4 years. The mine production schedule calls for the production of 600 tpd of ore seven days per week and 840 tpd of ore processed per mill working day, 5 days per week. Mining recoveries of 95% were applied and overall dilution factors averaged 25.3%. Dilution factors are calculated based on internal stope dilution calculations and external dilution factors of 10%. The ore will be placed on a stockpile at the mill and a loader will be employed to feed the mill at three eight-hour shifts, five days per week.

The mine plan for the reserves is based on the following criteria ........


Crushing and Grinding
Source: Subscription required


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 38,000166,172
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate 600 tons *
Waste tonnes, LOM 537,001 tons *
Ore tonnes mined, LOM 884,106 tons *
Total tonnes mined, LOM 1,421,107 tons *
Daily processing rate 840 tons *
Tonnes processed, LOM 884,106 tons *
* According to 2018 study.

Reserves at June 16, 2021:
The mineral resource is reported at an underground mining cut-off of 0.080 oz/ton (2.74 g/t) Au beneath the historic open pit and within coherent wireframe models.

CategoryTonnage CommodityGradeContained Metal
Measured 806,000 t Gold 7.56 g/t 196,000 oz
Indicated 502,000 t Gold 6.77 g/t 110,000 oz
Measured & Indicated 1,308,000 t Gold 7.26 g/t 306,000 oz
Inferred 1,123,000 t Gold 5.85 g/t 212,000 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs (sold) Gold USD 684.03 / oz *  
Total cash costs (sold) Gold USD 713.94 / oz *  
All-in sustaining costs (sold) Gold USD 874.83 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2018 study / presentation.

Operating Costs:

Units2018
UG mining costs ($/ton milled) USD 76.5 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2018 study.
Subscription required - Subscription is required.

2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 32.1
Refining and transportation $M USD  ......  Subscription required
G&A costs $M USD 12.1
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 7.5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7.5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Water Supply

Fresh water for the facility will be supplied from dewatering of the underground mine and/or from three existing Patch Living Trust permitted wells located east of the Copperstone mine near the intersection of the Copperstone Mine Road and Arizona Highway 95.

The Patch Living Trust water wells are permitted under Arizona Department of Water Resources (ADWR) and are currently valid and can be located under the ADWR - GWSI Well Information site ID 514525, 514526, and 517883.

The water balance for the site indicates a net surplus of water, primarily as a result of water produced from the mine. It is currently anticipated that a permitted shallow evaporation pond/infiltration gallery will be constructed close to the site for use in evaporating excess water as required.


Proposed Heavy Mobile Equipment as of January 4, 2018:
HME TypeSizeQuantityLeased or
Contractor
Deck & Boom Trucks ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 27, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2018

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Management Discussion & Analysis 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
Corporate Presentation 2018
Pre-Feasibility Study Report 2018
Press Release 2018
Management Discussion & Analysis 2015
Form 20-F 2013
Feasibility Study Report 2010
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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