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Canada
Great Burnt Project

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 Location:
75 km SW from Grand Falls-Windsor, Newfoundland and Labrador, Canada

  Project Contacts:
7735 Leslie Rd W
Puslinch
Ontario, Canada
N0B 2J0
Phone  ...  Subscription required
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  • Overview
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  • Mining
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  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit & Underground
Commodities
  • Copper
  • Gold
  • Copper Equivalent
Mining Method
  • Truck & Shovel / Loader
  • Cut & Fill
  • Drift & Fill
  • Sub-level Retreat
  • Cemented backfill
Mine Life3.2 years (as of Jan 1, 2022)


Owners

Source: p. 11
CompanyInterestOwnership
Spruce Ridge Resources Ltd. 100 % Direct
Spruce Ridge Resources Ltd. owns 100% interest in the Great Burnt Property.

Contractors

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Deposit Type

  • VMS


Summary:

Copper mineralization at the Great Burnt Copper Deposit occurs within metavolcanic-metasedimentary rocks that include reworked tuffs, volcaniclastics and clastic sediments associated with mafic volcanics that are interpreted to have formed in a back-arc basin. This type of sedimentary rock-dominated volcanogenic massive sulphide (“VMS”) mineralization has historically been classified as “Besshi-type” (Bond and Delaney, 2005), after the Besshi district of Japan. More recently, this type of mineralization has also been classified as mafic-siliciclastic or mafic-pelitic VMS (Galley et al., 2007).

Gold is a component of mineralization at the South Pond Deposit, the South Pond Gold Zones, and has been identified at the Great Burnt Copper Deposit itself. The South Pond Gold Zones occur within a strongly foliated area that has been termed the “South Pond Deformation Zone”. Whether the gold mineralization is syngenetic or epigenetic in origin remains to be determined.

MINERALIZATION
Four deposits of copper ± gold mineralization have been delineated on the Great Burnt Property: 1) Great Burnt Copper Deposit; 2) South Pond “A” Copper-Gold Zone; 3) South Pond “B” Gold Zone; and 4) End Zone Copper Prospect. The mineralization in each of these four deposits plus the Northern Zone, is described below. It is the Great Burnt Copper Deposit and the South Pond “A” Deposit that are subject to the Mineral Resource Estimates.

Great Burnt Copper Deposit


Mining Methods

  • Truck & Shovel / Loader
  • Cut & Fill
  • Drift & Fill
  • Sub-level Retreat
  • Cemented backfill


Summary:

The Great Burnt Copper Deposit will initially be mined by a 20 m deep open pit (“OP”) followed by underground (“UG”) ramp access and longhole sublevel retreat, cut-and-fill (“C&F”), and drift-and-fill (“D&F”) mining methods. Underground diluted production includes both development and stopes. The South Pond Deposit will be mined by a 25 m deep open pit.

Access to the Great Burnt Copper Deposit will be via a 5 m high by 4.5 m wide -15% ramp from surface to a vertical depth of 288 m. A conceptualized mining plan has been developed using open pit and underground mechanized trackless mining equipment. The primary underground mining method will be conventional longitudinal longhole sublevel retreat, with cemented rock (“CRF”) backfill. Underground longhole sublevels will be developed at 15 m vertical intervals. Sublevel drifts in mineralization will be developed the full length of the Great Burnt Copper Deposit. These drifts will provide access for the successive operations of slot raise development, blasthole drilling, blasting and loading, and backfill placement. The average thickness of the Great Burnt longhole mineralization is 4.3 m. Remotely-operated underground load-haul-dump (“LHD”) units will remove broken mineralization from the stopes. The stopes will be backfilled primarily with CRF backfill, and in some cases supplemented with waste rock.

Initially a steady state production rate of 1,000 tpd of open pit mineralization will begin to be mined star ........


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsLOM
Copper Payable metal M lbs 46
Copper Concentrate kt 87
Gold Payable metal oz  ......  Subscription required

Operational Metrics:

Metrics
Daily milling rate  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at March 9, 2022:
The 0.90% Cu cut-off grade was derived from the June 2021 Consensus Economics long term forecast Cu and Au prices of US$3.62/lb and US$1,650/oz, US$ exchange rate of $0.76, 95% process recovery, underground mining CAD$55/t, processing CAD$15/t, G&A CAD$5/t and smelting/refining CAD$10/t.

CategoryTonnage CommodityGradeContained Metal
Indicated 881 kt Copper 2.74 % 53.2 M lbs
Indicated 881 kt Gold 0.29 g/t 8.3 koz
Indicated 881 kt Copper Equivalent 2.94 % 57.1 M lbs
Inferred 627 kt Copper 2.05 % 28.4 M lbs
Inferred 627 kt Gold 0.24 g/t 4.8 koz
Inferred 627 kt Copper Equivalent 2.22 % 30.7 M lbs

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Copper USD  ......  Subscription required *†
All-in sustaining costs (AISC) Copper USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2022
Processing costs ($/t milled) CAD 25 *
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Processing OpEx $M CAD 26.7
G&A costs $M CAD 6.3
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax IRR, % $M CAD  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of March 9, 2022:
HME TypeModelSizeQuantity
Drill ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 22, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Preliminary Economic Assessment 2022
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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