The PFS design has a capital cost estimate ranging from $41 million to $45 million and an increase in operating costs of approximately $7.50 per tonne of ore mined. The study indicates a paste backfill system will allow ore extraction containing over 100 million pounds of copper and 3.1 million ounces of silver between 20, that would have otherwise been left as unmined pillars. A pre-feasibility study (“PFS”) for an underground paste backfill system was completed in December 2020.This conversion from a slurry tailings impoundment aligns with industry leading socio-environmental best practice for tailings management. Tailings management transformation activities are progressing on schedule, including feasibility level design and studies in support of permitting a filtered (dry stack) tailings storage facility.Approximately half of this increase is due to recovery of high-grade pillars using paste backfill. Estimated Reserves increased by 39% to 14.1 million tonnes, relative to Apcontained copper and silver increased by 37% and 49%, respectively.A new section of ramp to open the one-way traffic circuit to debottleneck the mine was completed in early December 2020, ahead of schedule. Ramp-up to 3,780 tonnes per day (“tpd”), or 1.38 million tonnes per annum (“tpa”), by the end of Q1 2021 is on track.
Average projected C1 costs over this period are $0.96 per payable pound of copper.
From 2021 to 2027, average annual production is 58.8 million pounds of copper and 1.7 million ounces of silver. Average annual copper production of 51.2 million pounds of copper and 1.6 million ounces of silver production over 10 years at average C1 costs, including the 50% silver stream, of $1.02 per payable pound of copper. Updated life of mine plan (“LOMP”) released.The new reserve mine plan is projected to produce 512 million pounds of copper and 16.0 million ounces of silver over the next 10 years. Mineral Reserves increased by 39% to 14.1 million tonnes grading 1.77% copper and 44.4 grams per tonne (g/t) silver and Indicated and Inferred Mineral Resources increased by 10% to 29.7 million tonnes grading 1.52% copper and 44 g/t silver.
(“Capstone” or the “Company”) (TSX:CS) announces an updated Technical Report for its Cozamin Mine in Zacatecas, Mexico and extends mine life to 2031. VANCOUVER, British Columbia-( BUSINESS WIRE)-Capstone Mining Corp.
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