Mining Intelligence and News
United States

Contact Project

Click for more information

Categories

Overview

Mine TypeOpen Pit
StagePre-Feasibility
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotUpcoming Milestones:
• Q3 2023 – Updated MRE for Contact Copper.

Owners

SourceSource
CompanyInterestOwnership
Faraday Copper Corp. 100 % Indirect

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

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Production

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

Operational metrics

Metrics
Daily ore mining rate 41,000 tons *
Daily processing capacity 60,000 t *
Annual production capacity 50 M lbs of copper cathode *
Stripping / waste ratio 2.3 *
Tonnes processed 141,094,003 tons *
Waste tonnes, LOM 327,918,932 tons *
Ore tonnes mined, LOM 141,094,003 tons *
Total tonnes mined, LOM 469,012,935 tons *
* According to 2016 study.

Production Costs

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

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2016 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 325.4
G&A costs $M USD 30
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Net 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 @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 19, 2024
....................... Subscription required ....................... Subscription required Subscription required Feb 19, 2024

Total WorkforceYear
...... Subscription required 2016

Aerial view:

Lock

- subscription is required.