Key Ventilation Project Completed, Significant Ore Stockpile and Mill Restart Preparation
Key Operational Updates
- Development Mining Progressing Ahead of Schedule – as previously reported in Nevada Copper’s
May 16, 2023 press release,Small Mine Development, LLC (“SMD”) mobilized to site and worked with the Company to efficiently establish and onboard their crews and move equipment underground to support the commencement of SMD’s development activities onJune 1 . Six working faces were made available to SMD to accelerate primary and secondary lateral development. Mine development in theEN Zone , beyond the completed dike crossings, continues to encounter competent rock as predicted by the Company’s geotechnical model. - Significant Surface Ore Stockpile Increasing – the surface stockpile is currently approximately 50,000 tons of ore, with the majority crushed on surface and ready for commencement of milling operations. With the mobilization of SMD complete and accelerating mining rates, it is expected the surface stockpile will continue to grow on an accelerated basis, positioning the Company well for the planned restart of milling operations next quarter.
- Key Ventilation Raise Commissioned – the key ventilation raise noted in the Company’s
May 16, 2023 press release is fully complete with the fans commissioned. This raise represents the remaining piece of the main ventilation infrastructure to provide fresh air circulation to all active areas of the mine, specifically into theEN Zone .
- Mill Readiness – in addition to the restart of ore stockpile crushing on surface, several other key mill and process systems have been tested, in preparation for a smooth restart of processing operations next quarter. Several opportunities to improve the paste plant operation that are expected to lead to further improvements in operating costs for dry stack tails, tails filtration and paste delivery are under investigation.
- Process Improvements – changes to the reagent scheme and distribution system are expected to demonstrate further improvements in metallurgical performance, primarily recovery and concentrate grade, based on testing conducted over the last six months.
About
President & CEO
For additional information, please see the Company’s website at www.nevadacopper.com, or contact:
tthom@nevadacopper.com
+1 775 391 9029
Cautionary Language on Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the advancement of restart operations at the
Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the restart and ramp-up of the
The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information and statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. Specific reference is made to “Risks and Uncertainties” in the Company’s Management’s Discussion and Analysis in respect of the year ended
The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5b91bd39-a414-4949-a078-df9066940eec
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Significant Surface Ore Stockpile Increasing
Significant Surface Ore Stockpile Increasing
Key Ventilation Raise Commissioned
Key Ventilation Raise Commissioned
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