Highlighted Projects: Copper
The cornerstone of the electricity transition
“At the Van Dyke Project, a hydrogeological modeling program is underway, meeting EPA and ADEQ requirements for copper project permits. This 24-month study is progressing as planned. Simultaneously, we monitor Taseko's Florence Copper project, which is an in-situ copper recovery, the same format that Van Dyke will be operating. Our Arizona projects include Sombrero Butte and Mineral Mountain. Sombrero Butte, south of Faraday's Copper Creek project, is undergoing additional geophysical surveys to pinpoint porphyry copper locations, with a forthcoming drilling program for validation. For Mineral Mountain, a recent geophysical survey completion anticipates results by the end of 2023, guiding us towards a subsequent drill program based on obtained information.”
Lynn Ball, VP Corporate Affairs, Copper Fox
“In Q2 2023, we published a PEA and updated the mineral resources estimate for Copper Creek that outlines a payable production of 51,100 copper-equivalent t/y for 32 years, generating 3.4 billion lb of payable copper equivalent metal. Since taking over the company in late 2021, we have released two mineral resource estimates and established a comprehensive geological model for the property. The updated mineral resource estimate includes about 4.2 billion lb of copper in the measured and indicated category, with a total resource of approximately 4.8 billion lb across all categories.”
Graham Richardson, CFO, Faraday Copper
“In November 2022, we announced Antler Copper Deposit's second resource estimate, marking a 50% increase from 7.7 million t to 11.4 million t. A scoping study conducted in the first half of 2023 focused on the updated resource, emphasizing a low capital cost development using a single decline. The mine design foresees a 13-year life mine with a consistent production rate of 1.3 million t/y. Over the past three and a half years of Antler ownership, all drilling activities concentrated within a 600 m corridor, revealing improved mineralization with depth. Despite the deposit remaining open at depth, recent mining studies confirm that discovering more ore at depth will not impact production until year 10 or later.”
Mike Haynes, CEO, New World Resources
“Palmer is the most advanced project, and we completed a Preliminary Economic Assessment (PEA). Madison is another key asset in our portfolio, probably the one we are most known for. What makes Madison interesting is its high-grade skarn surface; we firmly believe there is substantial potential beneath it. Rio Tinto has noticed and acquired significant land around the project, indicating their interest in the area.”
Warwick Smith, CEO, American Pacific Mining