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United States
Copperwood Project

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 Location:
28 km NE from Ironwood, Michigan, United States

  Project Contacts:
1111 St-Charles West West Tower, Suite 101
Longueuil
Quebec, Canada
J4K 5G4
Phone  ...  Subscription required
Fax+1-450-677-2601
EmailEmail
WebsiteWeb
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Copper
  • Silver
Mining Method
  • Room-and-pillar
Mine Life10.7 years (as of Jan 1, 2018)
All permits needed to start construction have been received and the project is currently awaiting an operating permit at the federal level for the construction and operation of a pumping station on Lake Superior.


Owners

Source: p. 10,12
CompanyInterestOwnership
Highland Copper Company Inc. 100 % Indirect
The Copperwood Project consists of four metallic and non-metallic mineral leases totaling 1,904 contiguous hectares. Each lease was executed by Copperwood Resources Inc. (“CRI”), formerly known as Orvana Resources US Corp., a wholly-owned subsidiary of Highland.

Contractors

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Deposit Type

  • Sediment-hosted


Summary:

The Copperwood Project consists of sediment- hosted stratiform copper deposits. Such deposits consist of copper and copper-iron sulfide minerals hosted by siliciclastic rocks in which a relatively thin (typically less than 3 m thick) copper-bearing zone is mostly conformable with stratification of the host sedimentary rocks. Copper occurs as disseminations and veins.

Mineralization
Mineralization is hosted within two sedimentary sequences termed the Lower Copper Bearing Sequence (“LCBS”) and Upper Copper Bearing Sequence (“UCBS”) at the base of the Nonesuch Formation.

The LCBS is composed of the Domino, Red Massive and the Gray Laminated units.

The UCBS is composed of the Upper Transition, Thinly, Brown Massive and Upper Zone of Values units.

The Domino is the main mineralized subunit, averaging 1.6 m in thickness, but thinning to about 0.5 m on the eastern edge of the Copperwood Deposit. Copper assays at Copperwood are remarkably consistent within individual units with mean copper grades of 2.58 wt.%, 0.39 wt.%, and 1.32 wt.% for the Domino, Red Massive and Gray Laminated subunits, respectively. The Red Laminated demonstrates a localized 1% increase in copper grades occurring at the base of the unit adjacent to the Gray Laminated. Silver is also present, with mean grades of 5.5 g/t.

Chalcocite is the only observed copper sulfide- bearing mineral at Copperwood, occurring principally as disseminations within shale ........


Mining Methods

  • Room-and-pillar


Summary:

The proposed mining method for the Copperwood Project is conventional drill and blast room- and-pillar given the relatively sub-horizontal orebody that varies in thickness from 1.6 m to 3.7 m.

The method consists of the extraction of a series of entries and cross-cuts in the ore leaving pillars in place to support the back. The entries cross cuts and pillars are sized using a geotechnical analysis of the rock, and experience from other mines sharing similar ground conditions.

The Project’s mining equipment consists of a low-profile two-boom electric-hydraulic jumbo for drilling. A one-boom electric-hydraulic low-profile bolter is considered for the installation of ground support. A load haul dump (“LHD”) unit with a 10 t (6 yd3 ) capacity is planned for ore removal from the face and transport of the broken ore to a rock breaker- loading point. A rock breaker will reduce the size of larger particles in the blasted ore, which will be placed on a belt conveyor and transported to the surface crushed ore storage bins from which the mill is fed.

Main accesses and haulage of ore from certain distant working areas are developed using 30 t underground mining trucks to transport the ore to the rock breaker or to the surface stockpile. A mix of ANFO and emulsion explosives are used for blasting to reduce the excavation overbreak. The rooms are mined with a single pass approach, such that the pillars will immediately have their final dimensions. This ap ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 62660
Copper Metal in concentrate M lbs 690
Copper Concentrate kt 1,264
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required

Operational Metrics:

Metrics
Daily ore mining rate 6,600 t *
Waste tonnes, LOM 151,668 t *
Ore tonnes mined, LOM 25,389 kt *
Daily processing capacity 6,600 t *
Tonnes processed, LOM 25,389 kt *
Annual ore mining rate 2.4 Mt *
* According to 2018 study.

Reserves at April 30, 2018:
Cut-off grade of 1.0% copper was used.

CategoryTonnage CommodityGradeContained Metal
Proven 17.5 Mt Copper 1.5 % 579.6 M lbs
Proven 17.5 Mt Silver 4.43 g/t 2.5 M oz
Probable 7.9 Mt Copper 1.28 % 222.2 M lbs
Probable 7.9 Mt Silver 2.5 g/t 0.6 M oz
Proven & Probable 25.4 Mt Copper 1.43 % 801.8 M lbs
Proven & Probable 25.4 Mt Silver 3.83 g/t 3.1 M oz
Measured & Indicated 49.3 Mt Copper 1.54 % 1,677 M lbs
Measured & Indicated 49.3 Mt Silver 3.72 g/t 5.9 M oz
Inferred 51.5 Mt Copper 1.16 % 1,315 M lbs
Inferred 51.5 Mt Silver 3.38 g/t 5.6 M oz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Copper USD -0.03 / lb *  
C1 cash costs Copper USD 1.75 / lb *†  
C3 fully allocated costs Copper USD 2.54 / lb *†  
Assumed price Copper USD 3.1 / lb *  
Assumed price Silver USD 16 / lb *  
* According to 2018 study / presentation.
† Net of By-Product.

Operating Costs:

Units2018
UG mining costs ($/t milled) USD 21.3 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2018 study.
Subscription required - Subscription is required.

2018 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
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 307.7
Refining costs $M USD  ......  Subscription required
Transportation (haulage) costs $M USD 94
G&A costs $M USD 72
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 0% $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 0% $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
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Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of July 31, 2018:
HME TypeSizeQuantity
Cable bolter ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
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....................... 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 Jul 31, 2018
....................... Subscription required ....................... Subscription required Subscription required Jul 31, 2018
....................... Subscription required ....................... Subscription required Subscription required Dec 13, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2018

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2019
Feasibility Study Report 2018
Technical Report 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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