Nevada Copper Provides Update on Project Development Objectives
YERINGTON, Nev., March 01, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) is pleased to provide an update on its development objectives for its Pumpkin Hollow project.
The Company’s updated development objectives reflect internal studies regarding project optimization and expansion options, as well as the evolution of the copper market. These development objectives aim to further demonstrate the potential of Nevada Copper’s large strategic land holding and organic pipeline (see Figure 1).
Nevada Copper’s latest corporate presentation can be accessed at the Company’s website at www.nevadacopper.com.
“We are pleased to outline our 2021 development objectives,” stated Mike Ciricillo, Chief Executive Officer. “While remaining focused on safely ramping up the underground mine to full capacity, our team is also looking ahead at growth initiatives. We are fortunate to have such growth opportunities within the Pumpkin Hollow project district, including one of the few fully permitted, large-scale copper projects in North America today. Our strategic landholding with multiple copper targets provides an organic growth pipeline, allowing us to leverage our knowledge of the region and highly capable and dedicated team.”
HIGHLIGHTS OF THE DEVELOPMENT OBJECTIVES
Prioritized development objectives to advance Nevada Copper’s three key growth opportunities:
º Optimization and expansion of the fully permitted Open Pit Project
º Exploration of the Company’s multiple near-mine targets
º Expansion and extension of the producing underground mine
Open Pit Advancement:
º Internal studies indicate optimized project scaling has potential to significantly improve project economics, including a concurrent phase 1 and phase 2, plus potential larger ultimate production scale
º Infill and extension drilling with aim to bring newly defined mineral inventory into reserves – Conversion of known inferred resources also has potential to further improve project economics
º The Company expects to release a resource and reserve update following drilling
º Property has been further expanded to the east, adding multiple targets
º Geophysical surveys have identified multiple new targets