Pumpkin Hollow Open Pit Pre-feasibility Study

 

RENO, NV - Nevada Copper Corp. reported the filing of a new technical report for its 100%-owned Pumpkin Hollow property near Yerington, Nevada. This technical report supersedes all previously filed technical reports for the property. The underground project is currently in construction, with initial production forecast for the end of 2019, while the open pit project is in a study phase of development

The technical report describes the Pumpkin Hollow property and its advancement based on a phased development approach of the underground and open pit deposits as stand-alone projects. The technical report includes a pre-feasibility study for the stand-alone underground project initially completed in 2017, and a newly completed pre-feasibility study for the open pit project at Pumpkin Hollow. The underground project is currently in construction, with initial production forecast for the end of 2019, while the open pit project is in a study phase of development. Development options and timing of the open pit project construction and operations remain flexible.

The open pit PFS demonstrates enhanced economics for Nevada Copper’s open pit project as Nevada Copper continues to advance the open pit project towards an ultimate construction decision. The open pit PFS continues to apply the company’s philosophy of phased development and low-capital intensity growth. The open pit project has all the material permits required for mine construction and operations.

Matt Gili, President and Chief Executive Officer, said, “We are very pleased with the new PFS for our open pit project at Pumpkin Hollow. The results clearly illustrate the potential to put this large, open pit project into production with a further improved internal rate of return and continued low capital and operating costs. The 2018 completed drill program included in the open pit PFS has successfully extended the open pit mineralization. Importantly, it also highlights the need for further drilling to test the full extent of the deposit and to continue expanding and upgrading the open pit resources. We continue to apply our strategy of pursuing low-capital intensity and staged production growth to generate shareholder returns. This same philosophy was applied in the development of the underground project, which we expect to commence production in Q4 2019. The study’s focus of generating project value through an improved internal rate of return, has resulted in a higher grade driven mine plan. This means we expect the open pit project to be more robust with regards to lower copper prices, while also affording potential flexibility for mining more of the mineral resource under differing market conditions.”

The company’s address is 100 W Liberty Street, Suite 765, Reno, NV 89501, (775) 277-3127, nevadacopper.com.