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United States
Copper Flat Project

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 Location:
251 km SW from Albuquerque, New Mexico, United States

  Project Contacts:
85 Copper Rock Road Hillsboro
PO Box 4209
New Mexico, United States
88042
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Copper
  • Molybdenum
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life11.1 years (as of Jan 1, 2018)
Copper Flat is a past producing copper, gold, silver project with additional molybdenum resources, and project economics may be affected by fluctuations in the price of those commodities. The Company continues to monitor copper prices as the material commodity of the Copper Flat Project while it works through the permitting process.


Owners

Source: p. 58
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.

Contractors

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Deposit Type

  • Hydrothermal
  • Breccia pipe / Stockwork
  • Porphyry


Summary:

Copper Flat is a porphyry copper-molybdenum deposit that is approximately 1,400 by 2,100 ft in plan 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.

Copper Flat has been categorized as an alkalic copper-gold bearing breccia pipe, surrounded by and genetically linked to an alkalic porphyry system. The deposit is situated along the eastern edge of the Cretaceous Arizona-Sonora-New Mexico porphyry copper belt and along with Tyrone, New Mexico, forms a linear mineralized feature known as the Santa Rita lineament (SRK, 2010; McLemore et al., 2000). Analogous deposits include Terrane Metal’s Mount Milligan, British Colombia deposit and the Continental breccia pipe located in the Central Mining district of New Mexico (SRK, 2010).

Although copper occurs almost exclusively as chalcopyrite locally accompanied by trace amounts of bornite, minor amounts of chalcocite and copper oxide minerals are locally present near the surface and along fractures. The supergene enrichment typical of many porphyry copper deposits in the Southwest is virtually non-existent at Copper Flat. During the early mining days, a 20- to 50-ft leached oxide zone existed over the ore body, but this mate ........


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 planned at 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.

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.

Mine Planning Parameters:
- Haul Road Width - 90 feet;
- Haul Road Grade - 10% Maximum;
- Inter-ramp Slope Angles: 0° to 90° Northeast - 41 degrees, 90° to Brec Southeast - 39 degrees, Breccia - 36 degrees, Brec to 360° West - 44 degrees;
- Operating width between pushbacks - 300 feet nominal.


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsLOM
Copper Concentrate kt 1,121
Copper Payable metal M lbs 606
Copper Metal in concentrate M lbs 628
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
Silver Payable metal koz  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 0.4 *
Daily ore mining rate 29,600 tons *
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 ore mining rate 10,800 k tons *
* According to 2018 study.

Reserves at October 7, 2013:
Mineral Reserves: Variable By Year NSR cutoff grade of $12.75/ton to $6.11/ton.
Mineral Resources: NSR cutoff grade of $6.11/ton.

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 -0.84 / lb *  
C1 cash costs Copper USD 2.19 / lb *  
C1 cash costs Copper USD 1.35 / lb *†  
Assumed price Molybdenum USD 10.5 / lb *  
Assumed price Copper USD 3.25 / lb *  
Assumed price Silver USD 16 / oz *  
Assumed price Gold USD 1,300 / oz *  
* According to 2018 study / presentation.
† Net of By-Product.

Operating Costs:

Units2018
OP mining costs ($/ton milled) USD 2.75 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton 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
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 567
Transportation (haulage) costs $M USD 191.4
G&A costs $M USD 59.8
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 December 11, 2018:
HME TypeModelSizeQuantity
Dozer (crawler) ....................... Subscription required 410 HP ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 9, 2020
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
Feasibility Study Report 2018
Feasibility Study Report 2013
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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