Copper Mountain confident of organic resource expansion

VANCOUVER (miningweekly.com) – Vancouver-based miner Copper Mountain Mining Corporation is progressing with an exploration programme at its Copper Mountain mine, in southern British Columbia near the town of Princeton, aimed at extending Pit 2 to the west and to follow up on pre-2012 drilling that intersected significant mineralisation below Pit 2.

CEO Jim O’Rourke updated investors on Monday during the company’s annual general meeting on the progress of the programme, saying activities were now well under way with two diamond drill rigs drilling at the mine. 

He noted that the exploration programme has a three-pronged approach, including drilling in the eastern end of Pit 2 to test the deeper mineralisation; drilling the western end of Pit 2 to expand the ultimate pit westward; and to undertake infill drilling of the saddle area southwest of Pit 2.

"The mine provides a solid base for future growth for all stakeholders and exploration at the site has historically been very successful. With the strengthening copper price, the company is very comfortable reinvesting in our large land package for future growth,” O'Rourke commented.

Previous drilling by the company in the Pit 2 eastern zone intersected a 128 m interval grading 1.01% copper and 0.25 g/t gold (including 39 m grading 2.33% copper and 0.38 g/t gold) beginning about 90 m below the current pit bottom. Another hole had intersected a 173 m interval grading 0.43% copper and 0.15 g/t gold, while yet another hole intersected a 123 m interval grading 0.52% copper and 0.27 g/t gold.

Spurred by a generally stronger copper price in recent months, and the mine’s improved financial position, the exploration drilling is designed to better determine the trend and continuity for high-grade mineralisation at depth under Pit 2.

O'Rourke also pointed out that the mill had successfully completed the planned major maintenance in late April ahead of schedule and that the mill averaged 43 500 t/d throughput during May. May output was reported as 7.2-million pounds of copper, 2 600 oz of gold and 25 000 oz of silver. 

O'Rourke indicated that mining activities also continued to operate well above plan and averaged 197 500 t/d moved during May.