United States

Pumpkin Hollow OP Project

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Overview

Mine TypeOpen Pit
StatusTemporary Suspension
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotProgress Open Pit Project:
-PFS being updated in Q2: larger resource, increased scale, incorporate solar plant and other work completed since 2018, update for input costs and copper market outlook.
- Definitive Feasibility Study is expected to follow.

On June 10, 2024, Nevada Copper Corp. announced that they filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court of the District of Nevada. The Company has been unable to secure additional interim funding from its key stakeholders. As a result, the Company is unable to continue carrying on business. Through the restructuring process, the Company does not expect to continue operations, but does intend to take steps to preserve and protect its assets.
Related AssetPumpkin Hollow UG

Owners

SourceSource
CompanyInterestOwnership
Nevada Copper Inc. (operator) 100 % Direct
Nevada Copper Corp. 100 % Indirect
Nevada Copper Inc. is a subsidiary of Nevada Copper Corp.

On June 10, 2024, Nevada Copper Corp. and its subsidiaries (collectively, “Nevada Copper” or the “Company”) announced that they have filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court of the District of Nevada. The Company has been unable to secure additional interim funding from its key stakeholders. As a result, the Company is unable to continue carrying on business.

Through the restructuring process, the Company does not expect to continue operations, but does intend to take steps to preserve and protect its assets. The Company plans to conduct its activities as a “debtor in possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.

Deposit type

  • Skarn
  • Breccia pipe / Stockwork

Summary:

North Deposit
The North Deposit of mineralization is located 1,500 ft north of the South Deposit and is centered on a subhorizontal, pipe-like, copper- rich, magnetite-poor skarn and skarn breccia body hosted by hornfels of the Gardnerville Formation (Northwest Deposit). The higher grade mineralization in the skarn breccia grades into a zone of lower copper grade mineralization hosted by granodiorite endoskarn and marble (North Deposit).

The combined Deposit has a 3,500 ft strike length, with true widths of 200 to 900 ft, and a down-dip extent of 1,500 ft and remains open in several directions. Retrograde alteration and sulfide deposition in the North Deposit was focused along fractures at angles to bedding and overprints earlier prograde alteration. Retrograde alteration and mineralization along fractures diminishes away from the breccia core. Chalcopyrite tends to be the last sulfide phase deposited.

South Deposit
The South Deposit, the first discovery on the Property, is a skarn-IOCG magnetite-chalcopyrite body closely associated with an intrusive contact of granodiorite into limestones of the Mason Valley Formation. The deposit is roughly tabular, measuring 3,600 ft along strike, 1,800 ft down- dip, trends northeast, and dips steeply to the northwest. The mineralized section, as defined by USS, can be divided into two zones: a footwall or proximal zone consisting of a 400 to over 1,000 ft thick relatively high grade magnetite with low copper content and a hanging wall or distal zone consisting of a 100 to 800 ft thick low grade iron but with higher copper content.

Southeast Deposit
The Southeast Deposit, located 2,000 ft southeast of the South Deposit, is a 300 ft wide skarn-IOCG lens of chalcopyrite-magnetite-garnet-actinolite developed within limestones of the Mason Valley Formation. The zone is unique for the Pumpkin Hollow Property due to its elevated magnetite grades (locally up to 75%). The zone of mineralization strikes northeast and dips steeply northwest with a strike length of 1,500 ft. Magnetite-garnet-epidote skarn hosts the mineralization with chalcopyrite increasing toward the footwall marble front. The Southeast Deposit has a 600 ft vertical extent and is fault bounded, above and below, by low-angle normal faults.

Geologic similarities between the Southeast and South Deposits strongly suggest that the Southeast Deposit may be the upper portion of the South Deposit which has been displaced 2,000 ft to the southeast along the lower listric fault.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Copper Concentrate kt 3165,704
Copper Payable metal M lbs 1633,098
Copper Metal in concentrate M lbs 3,207
Gold Payable metal oz 374,364
Gold Metal in concentrate oz 415,401
Silver Payable metal oz 10,775,493
Silver Metal in concentrate oz 11,972,770

Operational metrics

Metrics
Daily mining capacity 70,000 tons of ore *
Daily processing capacity 70,000 tons *
Annual processing rate 20,300 k tons *
Annual processing capacity 25.5 M tons *
Stripping / waste ratio 3.05 *
Waste tonnes, LOM 1,174,895 k tons *
Ore tonnes mined, LOM 385,693 k tons *
Total tonnes mined, LOM 1,560,588 k tons *
Tonnes processed, LOM 385,693 k tons *
* According to 2019 study.

Production Costs

CommodityUnitsAverage
Credits (by-product) Copper USD -0.23 / lb *  
Site cash costs (produced) Copper USD 1.43 / lb *  
All-in sustaining costs (AISC) Copper Equivalent USD 2.03 / lb * **  
C1 cash costs Copper USD 1.73 / lb * **  
Assumed price Copper USD 3.2 / lb *  
Assumed price Silver USD 20 / oz *  
Assumed price Gold USD 1,325 / oz *  
* According to 2019 study / presentation.
** Net of By-Product.

Operating Costs

Currency2019
OP mining costs ($/t mined) USD 1.29 *  
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2019 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 1,946
G&A costs $M USD 164.5
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 7.5% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 7.5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 17, 2024
....................... Subscription required ....................... Subscription required Subscription required Jan 2, 2024

Aerial view:

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