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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
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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
Mine Life28 years (as of Jan 1, 2020)
CuMo Project is the largest un-mined molybdenum project in the world.


Owners

Source: p. 14
CompanyInterestOwnership
Multi-Metal Development Ltd. 100 % Indirect
International CuMo Mining Corporation (ICMC) (formerly Idaho CuMo Mining Corporation) is a majority owned subsidiary of American CuMo Mining Corporation

The CuMo project is held by a wholly owned USA subsidiary of CuMoCo, Idaho CuMo Corporation (ICMC).

Contractors

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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 ve ........


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 recomme ........


Crushing and Grinding
Source: Subscription required


Processing

Flow Sheet: Subscription required

Summary:

- 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 Silver 2.09 g/t 18.1 M oz
Measured 297.2 M tons Rhenium 0.03 ppm
Measured 297.2 M tons Sulphur 0.229 %
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 Silver 2.57 g/t 147.8 M oz
Indicated 1,972 M tons Rhenium 0.019 ppm
Indicated 1,972 M tons Sulphur 0.269 %
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 Silver 2.5 g/t 165 M oz
Measured & Indicated 2,270 M tons Rhenium 0.021 ppm
Measured & Indicated 2,270 M tons Sulphur 0.264 %
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 Silver 2.13 g/t 158.8 M oz
Inferred 2,557 M tons Rhenium 0.017 ppm
Inferred 2,557 M tons Sulphur 0.282 %

Commodity Production Costs:

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

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2022
....................... 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
Preliminary Economic Assessment 2018
Press Release 2018
Subscription required - Subscription is required.

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