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United States
CuMo Project

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 Location:
56 km NE from Boise, Idaho, United States

  Project Contacts:
PO Box 1623
Boise
Idaho, United States
83701
Phone  ...  Subscription required
Fax1-855-432-6659
EmailEmail
WebsiteWeb
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Molybdenum
  • Copper
  • Silver
  • Tungsten
  • Rhenium
  • Sulphuric acid
Mining Method
  • Truck & Shovel / Loader
Processing
  • Chloride leach
  • Filter press plant
  • Dewatering
  • Flotation
Mine Life28 years (as of Jan 1, 2020)
CuMo Project is the largest un-mined molybdenum project in the world.
Latest NewsAmerican CuMo Mining Closes Oversold Convertible Debenture Offering     January 19, 2021


Owners

Source:
CompanyInterestOwnership
American CuMo Mining Corp. 100 % Indirect
Idaho CuMo Mining Corporation (ICMC) is a wholly-owned subsidiary of American CuMo Mining Corporation, a Canadian natural resource exploration and development company.

Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The CuMo deposit is a porphyry type deposit and has been classified as a porphyry copper molybdenum deposit (Klein, 2004; Spanski, 2004), or as a porphyry molybdenum-copper (low fluorine type) deposit (Mutchler et al, 1999).

The CuMo deposit is primarily of economic interest for its Mo content but contains significant values of Cu and Ag. Low-grade zones of copper enrichment typically form above and partially overlap with molybdenum shells in porphyry molybdenum deposits (Carten et al, 1993). The CuMo deposit is classified as a porphyry Mo-Cu deposit (Mo greater than 0.04% and Cu being potentially economically significant).

The CuMo deposit is typical of large, dispersed, low-grade molybdenum ± copper deposits. These systems are associated with hybrid magmas typified by fluorine-poor, differentiated monzogranite igneous complexes, characteristic of continental arc terranes. Due to their larger size, the total contained potentially economic molybdenum in these types of deposits can be equivalent to or exceed that of high-grade molybdenum deposits such as Henderson or Climax (Carten et al, 1993).

Molybdenum mineralization was discovered at CuMo in 1963. The only other molybdenum showing in Boise County is the Little Falls molybdenum prospect, which is situated just to the northeast of CuMo.

Mineralization on the property occurs in veins and veinlets developed within various intrusive bodies. Molybdenite occurs within quartz veins, veinlets and vein stockworks. Individual veinlets vary in size from tiny fractures to veinlets five centimeters in width, with an overall thickness averaging 0.3-0.4 cm. Pyrite and/or chalcopyrite are commonly associated with molybdenite although molybdenite can occur alone without other metallic mineralization.

Chalcopyrite occurs in quartz-pyrite + molybdenite veinlets, in magnetite + pyrite as well as in pyritebiotite + quartz + magnetite veins with secondary biotite halos. Scheelite is common on the property and closely parallels the distribution of molybdenite (Baker, 1983).


Mining Methods

  • Truck & Shovel / Loader


Summary:

The CuMo project is envisaged to be developed using open pit mining techniques. The scale of the deposit is such that ultra-class mining equipment (e.g. 400-ton trucks) has been considered for the purposes of this PEA. As well, to improve the head grade of the flotation mill feed, the author has considered the implementation of mineral sorting for the project. Specifically, the author envisions a multi-stage bulk sorting process accompanied by a final particle-sorting stage to upgrade the mil feed. The result of the mineral sorting strategies is a reduction of waste fed to the mill, thereby improving feed head grade. There is however added cost, but this is all taken into consideration in determining the potential mineable resource for the project.

Pit wall slopes used in the PEA were given for ground elevation intervals and became shallower with pit depth i.e. the upper interval was 45°, the next 40°, and the north south and west walls had a lower interval of 35°.

At an ultimate depth of over 600 m, the conceptual design walls are significantly higher than most operating mines in North America. The precedent for cases is very limited but the pits that are of those heights have all encountered slope stability problems in some areas of the mine. The plot suggests that these proposed overall slope angles (OSA) fall around FoS of equity and may not be achievable.

Pit Slope Recommendations

For the PEA pit design, the author recommends the following pit wall design criteria:
- maximum bench height of 50 ft
- bench width of 26 ft
- inter-ramp wall angles of 42°
- geotechnical berm of 65 ft every seven benches.

To allow for geotechnical berms and a spiral ramp to reach the pit bottom, derived an overall slope angle to be used in pit shell definition of 37°.


Crushing and Grinding
Crusher / Mill TypeModelSizePowerQuantity
Gyratory crusher 60" x 110" 3
Cone crusher ....................... Subscription required 6
SAG mill 11.58m x 7.60m 22 MW 3
Ball mill 24' x 40' 13 MW 9
Tower / Vertical mill 1 MW 9


Processing

  • Chloride leach
  • Filter press plant
  • Dewatering
  • Flotation

Flow Sheet: Subscription required

Summary:

The CuMo processing facilities and associated service facilities will process ROM (run-of-mine) feed delivered to the primary crusher, to produce separate copper and molybdenum concentrates, waste rocks, and tailings. The proposed process encompasses crushing the ROM feed, bulk sorting, particle sorting, grinding, bulk rougher and cleaner flotation, regrinding, molybdenum separation and dewatering of copper and molybdenum concentrates. Molybdenum concentrates will be further processed downstream in a roaster to produce a saleable molybdenum trioxide product.

The process plant design is based on a flow sheet with unit operations that are well proven in the sulfide flotation industry, incorporating the following unit process operations. Where considered practical, unit operations are sized to maximize the economies of scale possible with large equipment. The sorting system consists of the following unit processes. Mine sort feed (300 kstpd) from the open pit is crushed usin ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Molybdenum Recovery Rate, %  ......  Subscription required
Molybdenum Head Grade, % 0.074
Molybdenum Concentrate Grade, %  ......  Subscription required
Copper Recovery Rate, %  ......  Subscription required
Copper Head Grade, % 0.1
Copper Concentrate Grade, %  ......  Subscription required
Silver Recovery Rate, %  ......  Subscription required
Silver Head Grade, g/t 3
Subscription required - Subscription is required.

Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Molybdenum Metal in concentrate M lbs 431,292
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required  ......  Subscription required
Molybdenum Equivalent M lbs  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing rate  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at October 15, 2019:
The base case $5.00 cut-off is suggested to separate waste from material that is fed to the sorters.

CategoryTonnage CommodityGradeContained Metal
Measured 297.2 M tons Molybdenum 0.081 % 288.6 M lbs
Measured 297.2 M tons Copper 0.076 % 451.7 M lbs
Measured 297.2 M tons Sulphur 0.229 %
Measured 297.2 M tons Silver 2.09 g/t 18.1 M oz
Measured 297.2 M tons Rhenium 0.03 ppm
Indicated 1,972 M tons Molybdenum 0.053 % 1,253 M lbs
Indicated 1,972 M tons Copper 0.085 % 3,353 M lbs
Indicated 1,972 M tons Rhenium 0.019 ppm
Indicated 1,972 M tons Sulphur 0.269 %
Indicated 1,972 M tons Silver 2.57 g/t 147.8 M oz
Measured & Indicated 2,270 M tons Molybdenum 0.057 % 1,551 M lbs
Measured & Indicated 2,270 M tons Copper 0.084 % 3,813 M lbs
Measured & Indicated 2,270 M tons Rhenium 0.021 ppm
Measured & Indicated 2,270 M tons Sulphur 0.264 %
Measured & Indicated 2,270 M tons Silver 2.5 g/t 165 M oz
Inferred 2,557 M tons Molybdenum 0.048 % 1,471 M lbs
Inferred 2,557 M tons Copper 0.067 % 3,426 M lbs
Inferred 2,557 M tons Rhenium 0.017 ppm
Inferred 2,557 M tons Sulphur 0.282 %
Inferred 2,557 M tons Silver 2.13 g/t 158.8 M oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Molybdenum Equivalent USD  ......  Subscription required *
C1 cash costs Molybdenum USD  ......  Subscription required *†
Assumed price Rhenium USD  ......  Subscription required *
Assumed price Sulphuric acid USD  ......  Subscription required *
Assumed price Molybdenum USD  ......  Subscription required *
Assumed price Copper USD  ......  Subscription required *
Assumed price Silver USD  ......  Subscription required *
* According to 2020 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2020
OP mining costs ($/ton milled) USD 3.66 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 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 7,042
G&A costs $M USD 805
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (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
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of March 11, 2020:
HME TypeSizeQuantity
Backhoe 5 cu. yd 2
....................... Subscription required ....................... Subscription required 6
....................... Subscription required ....................... Subscription required 3
....................... Subscription required ....................... Subscription required 5
....................... Subscription required ....................... Subscription required 4
....................... Subscription required ....................... Subscription required 4
....................... Subscription required ....................... Subscription required 27
....................... Subscription required ....................... Subscription required 3
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 11, 2020
....................... Subscription required ....................... Subscription required Subscription required Mar 11, 2020
....................... Subscription required ....................... Subscription required Subscription required Mar 11, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2018
................................... Subscription required 2018
Subscription required - Subscription is required.

News:

NewsDate
American CuMo Mining Closes Oversold Convertible Debenture Offering January 19, 2021
American CuMo Mining and Idaho CuMo Mining Announce Proposed Financings December 8, 2020
American CuMo Mining Files Independent Preliminary Economic Assessment for the CuMo Project June 2, 2020
American CuMo Mining Announces Retraction of Technical Report December 20, 2019
American CuMo Mining files Independent Preliminary Economic Assessment for the CuMo Project November 27, 2019
American CuMo Mining Files Technical Report May 31, 2018
American CuMo Mining Receives Positive Results From Independent Updated PEA April 10, 2018

Aerial view:

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