The Canada-based copper ores company said that construction of the Pumpkin Hollow copper project is progressing on schedule and on budget.
A new technical report on the underground mining project, including the open pit project pre-feasibility study is in progress and is expected to be released at the end of first quarter of 2019.
The company has engaged nearly 250 employees, contractors and subcontractors on site as of mid-February.
In the underground works, the company has wrapped up installation of east main shaft utilities of the project ahead of schedule. Further, the lateral development on the 2850 level and 2770 level, have advanced to 322ft and 182ft, respectively.
It has also completed work on the east north ventilation shaft surface infrastructure while advancing shaft sinking to 150ft.
In the surface works, Nevada Copper has completed earthworks for the primary dry stack facilities and is currently working on concrete foundations for the grinding and cyclone areas.
On the exploration front, regional survey work has helped in identifying new prospects upon which the company staked nearly 5700 acres of unpatented claims to expand the Pumpkin Hollow property by 32% to the east.
Nevada Copper CEO Matt Gili said: “We are very pleased that construction at Pumpkin Hollow remains on target for entering production in the fourth quarter of this year. As highlighted by our solid progress, our team is performing extremely well and we now have 250 employees, contractors and subcontractors active on site.
“In addition, we are continuing to execute on our longer-term development plans and have significantly expanded our mineral claims area to the east via staking.”
Pumpkin Hollow is said to be a high-grade skarn/iron oxide copper gold (IOCG) deposit. It is located in a porphyry copper district that has a vast metal endowment in deposits controlled by Nevada Copper and several other companies.
As per a technical report published in 2017, the Pumpkin Hollow copper project will see initial capital requirements of $182m.
The Pumpkin Hollow project involves development of 5,000 tons per day (tpd) underground mine and also a 70,000tpd open pit and underground integrated project.
