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United States
Contact Project

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 Location:
132 km NE from Elko, Nevada, United States

  Project Contacts:
250 – 200 Burrard Street
Vancouver
British Columbia, Canada
V6C 0B2
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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life9.4 years (as of Jan 1, 2016)
Key Timeline:
Q2 2024 - Updated technical study for Contact Copper.


Owners

 
CompanyInterestOwnership
Faraday Copper Corp. 100 % Indirect
Enexco International Inc. 100 % Direct

Contractors

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Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

Copper mineralization occurs as an intrusive-related deposit within the Contact batholith and is observed in quartz veins within structural zones and in the surrounding granodiorite. The copper content is highest in the quartz veins, particularly where chalcocite is present, but grades outward into granodiorite where copper minerals occur in quartz veinlets, fracture coatings and disseminations. Mineralization is in the form of tenorite, chrysocolla and cuprite, and lesser chalcocite and covellite. Oxidation is observed to depths of 2,000 feet in drilling.

The model for mineralization at the Project is a porphyry copper system. Although a porphyry copper deposit has not been discovered in the area, the mineralization present is consistent with a porphyry copper model.

Porphyry copper systems involve the shallow emplacement of calc-alkaline multi-phase batholiths. These systems are commonly located in arcs associated with subduction and are also emplaced during extension following an orogeny


Mining Methods

  • Truck & Shovel / Loader


Summary:

Ore production will be by conventional open pit mining methods. The primary mining equipment selected consists of rotary blast hole drills, 19.5 cubic yard hydraulic shovels, and 150 ton haul trucks, supported by track dozers and other ancillary equipment. Drilling will be in 20-foot high benches, double benched with 25-foot wide catch benches on final slopes. Blasting will utilize ammonium nitrate-fuel oil (ANFO) supplemented with emulsion for explosives as most blast holes are expected to be dry. The ore will be hauled by trucks to the crushing area east of the pit, and then conveyed to the heap leach pad south of the pit. Material below the cut-off grade will be hauled by trucks to the waste rock storage facility north of the pit.

The open pit is designed and mined in three phases in order to maximize the grade during the initial years and to balance the required waste stripping over time. Mining in Phase 1 begins at the west end of the ultimate pit, between bench elevations 5,400 feet and 6,200 feet ASL, and progresses eastward to a final pit depth at elevation 4,940 feet ASL. When fully mined, the ultimate pit as planned extends 8,300 feet in length from west to east, and 2,800 feet in width from north to south.

Ore production is planned to vary up to 57,000 tons per day (18.9 million tons per year) in order to maintain a consistent copper production of 50 million pounds per year from the SX-EW plant. Total mine production of ore and waste will re ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper M lbs 49462
All production numbers are expressed as cathode.

Operational Metrics:

Metrics
Stripping / waste ratio 2.3 *
Daily ore mining rate 41,000 tons *
Waste tonnes, LOM 327,918,932 tons *
Ore tonnes mined, LOM 141,094,003 tons *
Total tonnes mined, LOM 469,012,935 tons *
Annual production capacity 50 M lbs of copper cathode *
Tonnes processed 141,094,003 tons *
* According to 2016 study.

Reserves at March 14, 2016:
Mineral Resource Estimate Reported at 0.07% Cu Cut-off.
Mineral Reserve Estimate Reported at 0.07% Cu Cut-off.

CategoryTonnage CommodityGradeContained Metal
Proven 57,678 k tons Copper 0.23 % 263,249 k lbs
Probable 83,416 k tons Copper 0.21 % 348,499 k lbs
Proven & Probable 141,094 k tons Copper 0.22 % 611,748 k lbs
Measured 75,473 k tons Copper 0.21 % 313,968 k lbs
Indicated 137,640 k tons Copper 0.19 % 517,526 k lbs
Measured & Indicated 213,113 k tons Copper 0.2 % 831,494 k lbs
Inferred 12,982 k tons Copper 0.2 % 52,188 k lbs

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Copper USD 1.72 / lb *  
Total cash costs Copper USD 1.73 / lb *  
Assumed price Copper USD 3.2 / lb *  
* According to 2016 study / presentation.

Operating Costs:

Units2016
OP mining costs ($/ton milled) USD 3.01 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled)  ......  Subscription required
Total operating costs ($/ton milled) EUR  ......  Subscription required
* According to 2016 study.
Subscription required - Subscription is required.

2016 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
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 325.4
G&A costs $M USD 30
Total OpEx $M USD  ......  Subscription required
Royalty payments $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 @ 8% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $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
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of March 14, 2016:
HME TypeModelSizeQuantity
Drill ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 28, 2023
....................... Subscription required ....................... Subscription required Subscription required Jan 28, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2020
Pre-Feasibility Study Report 2016
Pre-Feasibility Study Report 2013
Subscription required - Subscription is required.

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