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United States
Copper Flat Project

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 Location:
150 mi S from Albuquerque, New Mexico, United States

  Project Contacts:
4253 Montgomery Blvd NE # 130
Albuquerque
New Mexico, United States
87109
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
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  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Copper
  • Molybdenum
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Processing
  • Flotation
Mine Life11.1 years (as of Jan 1, 2019)
Latest NewsTHEMAC Resources Group Ltd Announces Update of Project Economics and Permitting for Copper Flat Project     February 28, 2020


Owners & OPERATOR

Source: p. 19
CompanyInterestOwnership
THEMAC Resources Group Ltd. 100 % Indirect
New Mexico Copper Corp. (operator) 100 % Direct
The Project is owned and operated by New Mexico Copper Corporation (NMCC), a wholly owned subsidiary of THEMAC Resources Group Limited.

Deposit Type

  • Porphyry
  • Breccia pipe / Stockwork
  • Hydrothermal


Summary:

Copper Flat is a porphyry copper- molybdenum deposit that is approximately 1,400 by 2,100 ft in plan view occurring within a small structurally controlled quartz monzonite stock that has intruded a circular block of andesite approximately 4 miles in diameter. The porphyry includes a variably mineralized west-northwest-trending hydrothermal “breccia pipe,” that lies immediately south of the Patten fault, that is about 1,400 ft long and 500 ft wide.

Sulfide mineralization is present as veinlets and disseminations in the quartz monzonite, but is most strongly developed in and adjacent to the west end of a steeply dipping breccia pipe, that is centrally located within the CFQM stock and elongated in the northwest-outheast direction roughly along, but south of the Patten fault. The sulfide mineralization first formed in narrow veinlets and as disseminations in the quartz monzonite with weakly developed sericitic alteration. This stage of mineralization was followed by the formation of the breccia pipe and the introduction of coarse “clotty” pyrite and chalcopyrite along with veinlet controlled molybdenite and milky quartz, and the development of strong potassic alteration. Typically, the total sulfide content ranges from 1 percent (by volume) in the eastern part of the breccia pipe and the surrounding CFQM to 5 percent in the CFQM to the south and west. Sulfide content is highly variable within the breccia, with portions in its western part reportedly containing as much as 20 percent sulfide minerals.

The breccia pipe, which can best be described as a crackle breccia, consists of rotated angular to subangular fragments of quartz monzonite varying from 1 inch to more than 18 inches in diameter. Previous workers have suggested that the breccia may have formed by autobrecciation resulting from retrograde boiling. Two types of breccia have been identified as distinguishable units based on the dominant mineral filling the matrix between clasts. Drilling has shown that the two breccia types, biotite breccia and feldspar breccia, grade into one another as well as with the CFQM. Interestingly from a recovery perspective, metallurgical testing has shown that the mineralization behaves virtually the same irrespective of the lithology.

Molybdenite occurs occasionally in quartz veins or as thin coatings on fractures. Minor sphalerite and galena are present in both carbonate and quartz veinlets in the CFQM stock. Preliminary evaluations of the mineralization at Copper Flat in 2011 indicate that copper mineralization concentrates and trends along the N50°W structural influences, whereas the molybdenum, gold and silver appear to favor a N10°-20°E trend.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Copper Flat project is planned for production using conventional hard rock open pit mining methods. Ore production to the mill is planned at 29,600 tpd (10,800 ktons/yr) for the first 6 years followed by 27,125 tpd (9,900 ktons/yr) for the remaining mine life. The mine production schedule was developed with the goal of filling the mill at required ore rate and maximizing the project return on investment. The total material rate is tied to equipment productivity and amounts to 17,500 ktons/yr or 47,945 tpd for the first 5 years. The mine is scheduled to operate 365 days/yr with two, 12 hour shifts/day. Bench heights are currently planned to be 25 ft high. Drilling will be completed with three rotary blast hole rigs with 45,000 lb pull down capacity and 6.5 in diameter blast holes. The blasted rock will be loaded into 100 ton haul trucks using two 19 cu yd front end loaders.

The mine plan was developed with a phased approach. The floating cone algorithm was used as a guide to the design of the phases or pushbacks. Three phases were designed for the Copper Flat project with approximately 300 ft of operating width on each bench within a phase. Phase 1 was sized to contain roughly 1.5 years of ore. The phases were tabulated from the block model and those three tabulations were used as input to the development of the mine production schedule.

The mine production schedule was developed with the goal of feeding the mill at through put rates of 29,600 tpd (years 1-5) and 27,125 tpd (remaining LOM) and maximizing the project return on investment. Multiple mine production schedules were developed that analyzed alternative cutoff grade strategies versus mine total material movement.


Crushing and Grinding


Processing

  • Flotation

Flow Sheet: Subscription required

Summary:

The process selected for recovering the copper and molybdenum minerals is considered “conventional.” The sulfide ore is crushed and ground to a fine size and processed through mineral flotation circuits. The following items summarize the process operations required to extract copper and molybdenum from the Copper Flat sulfide ore.

Size reduction of the ore by a primary gyratory crusher to reduce the ore size from runof-mine (ROM) to minus 175 mm.

Stockpiling primary crushed ore and then reclaiming by feeders and conveyor belt.

Grinding ore in a semi-autogenous (SAG) mill primary grinding circuit and a ball mill secondary circuit prior to processing in a flotation circuit. The ball mill will operate in closed circuit with hydrocyclones to deliver an ore size of 80 percent passing 140 µ to the flotation circuit.

Gravity separation will be conducted on a bleed from the hydrocyclone underflow slurry to remove gravity recoverable gold ahead of fl ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Copper Recovery Rate, %  ......  Subscription required
Copper Head Grade, % 0.3
Copper Concentrate Grade, %  ......  Subscription required
Molybdenum Recovery Rate, %  ......  Subscription required
Molybdenum Head Grade, % 0.009
Molybdenum Concentrate Grade, %  ......  Subscription required
Gold Recovery Rate, %  ......  Subscription required
Gold Head Grade, oz/t 0.003
Silver Recovery Rate, %  ......  Subscription required
Silver Head Grade, oz/t 0.06
Copper Equivalent Head Grade, % 0.39
Subscription required - Subscription is required.

Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Concentrate kt 1,121
Copper Payable metal M lbs 606
Copper Metal in concentrate M lbs 57628
Molybdenum Concentrate kt  ......  Subscription required
Molybdenum Payable metal M lbs  ......  Subscription required
Molybdenum Metal in concentrate M lbs  ......  Subscription required
Gold Payable metal koz  ......  Subscription required
Gold Metal in concentrate koz  ......  Subscription required  ......  Subscription required
Silver Payable metal koz  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required
Copper Equivalent Metal in concentrate k lbs  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 0.4 *
Daily ore mining rate 29,600 tons of ore *
Waste tonnes, LOM 44,682 k tons *
Ore tonnes mined, LOM 113,084 k tons *
Total tonnes mined, LOM 157,766 k tons *
Tonnes processed, LOM 113,084 k tons *
Annual processing rate 10.8 M tons *
Annual mining rate 10,800 k tons of ore *
* According to 2013 study.

Reserves at October 7, 2013:

CategoryTonnage CommodityGradeContained MetalRecoverable Metal
Proven 78,857 k tons Copper 0.32 % 504,685 k lbs 432,538 k lbs
Proven 78,857 k tons Molybdenum 0.01 % 15,771 k lbs 9,169 k lbs
Proven 78,857 k tons Gold 0.003 oz/ton 237 koz 117 koz
Proven 78,857 k tons Silver 0.07 oz/ton 5,520 koz 3,424 koz
Probable 34,227 k tons Copper 0.25 % 171,135 k lbs 146,670 k lbs
Probable 34,227 k tons Molybdenum 0.007 % 4,792 k lbs 2,786 k lbs
Probable 34,227 k tons Gold 0.003 oz/ton 103 koz 51 koz
Probable 34,227 k tons Silver 0.04 oz/ton 1,369 koz 849 koz
Proven & Probable 113,084 k tons Copper 0.3 % 675,820 k lbs 579,208 k lbs
Proven & Probable 113,084 k tons Molybdenum 0.009 % 20,563 k lbs 11,955 k lbs
Proven & Probable 113,084 k tons Gold 0.003 oz/ton 340 koz 168 koz
Proven & Probable 113,084 k tons Silver 0.06 oz/ton 6,889 koz 4,273 koz
Measured 126,655 k tons Copper 0.28 % 709,268 k lbs
Measured 126,655 k tons Molybdenum 0.009 % 22,798 k lbs
Measured 126,655 k tons Gold 0.003 oz/ton 380 koz
Measured 126,655 k tons Silver 0.06 oz/ton 7,599 koz
Indicated 178,571 k tons Copper 0.19 % 678,570 k lbs
Indicated 178,571 k tons Molybdenum 0.005 % 17,857 k lbs
Indicated 178,571 k tons Gold 0.002 oz/ton 357 koz
Indicated 178,571 k tons Silver 0.04 oz/ton 7,143 koz
Measured & Indicated 305,226 k tons Copper 0.23 % 1,387,838 k lbs
Measured & Indicated 305,226 k tons Molybdenum 0.007 % 40,655 k lbs
Measured & Indicated 305,226 k tons Gold 0.002 oz/ton 737 koz
Measured & Indicated 305,226 k tons Silver 0.05 oz/ton 14,742 koz
Inferred 27,646 k tons Copper 0.2 % 110,584 k lbs
Inferred 27,646 k tons Molybdenum 0.004 % 2,212 k lbs
Inferred 27,646 k tons Gold 0.001 oz/ton 28 koz
Inferred 27,646 k tons Silver 0.02 oz/ton 553 koz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Copper USD -0.88 / lb *
Cash costs Copper USD 2.03 / lb *
Cash costs Copper USD 1.15 / lb *†
Assumed price Molybdenum USD 9.5 / lb *
Assumed price Copper USD 3 / lb *
Assumed price Silver USD 22 / oz *
Assumed price Gold USD 1,350 / oz *
* According to 2013 study / presentation.
† Net of By-Product.

Operating Costs:

Units2013
OP mining costs ($/ton mined) USD 2.61 *
Processing costs ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2013 study.
Subscription required - Subscription is required.

2013 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 545.8
G&A costs $M USD 63.3
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net Income (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 @ 8% $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 November 21, 2013:
HME TypeModelSizeQuantity
Dozer (crawler) ....................... Subscription required 410 HP 3
....................... Subscription required ....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required 3
....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required ....................... Subscription required 10
....................... Subscription required ....................... Subscription required ....................... Subscription required 2
Subscription required - Subscription is required.

Mine Management:

Job TitleNameRef. Date
....................... Subscription required ....................... Subscription required Feb 3, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
Feasibility Study Report 2013
Subscription required - Subscription is required.

News:

NewsDate
THEMAC Resources Group Ltd Announces Update of Project Economics and Permitting for Copper Flat Project February 28, 2020
THEMAC Resources Group Announces Significant Regulatory Decisions for the Copper Flat Mine September 6, 2019
THEMAC Granted Groundwater Discharge Permit January 25, 2019

Aerial view:

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