Nevada Copper (NCU) provides new updates on its production restart at Pumpkin Hollow and talks about additional copper targets The Phase 1 will finalize dike crossings to access the EN Zone stopping area Additionally, Phase 2 Q2 2023 will focus on the development of higher-grade EN Zone stope areas The company also plans on its operating team starting all stope mining in Q3 2023 This year, the plan is to go over detailed mapping, interpretation of recent geophysical analysis and surface sampling for identified high-potential targets Nevada Copper (NCU) is down 1.25 per cent, trading at C$ 0.40 at 3:37 pm EST
Nevada Copper (NCU) has restarted production at its Pumpkin Hollow underground copper mine.
Located in Nevada, Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver.
Pumpkin Hollow restart highlights
There is a low-risk pathway to full-scale production for Pumpkin Hollow. The first phase will finalize dike crossings to access the EN Zone stopping area. This started in Q4 2022 and was completed in Q1 2023.
Additionally, Phase 2 Q2 2023 will focus on the development of higher-grade EN Zone stope areas.
Looking further into the 2023 year, Phase 3 will start in Q3 and Q4. Processes will include restarting the proven mill with a ramp-up to nameplate capacity.
The rock quality discovered is consistent with a geotechnical model, which predicted competent ground within the EN Zone.
Nevada Copper was also awarded a contract for the completion of capital projects to debottleneck and restart development and underground operations.
Randy Buffington, President & CEO of Nevada Copper, stated, “We are building on the momentum of the recent achievements.”
“The technical and leadership teams are in place and committed to executing this restart plan. We are targeting a mill restart in the third quarter with a quick ramp up to nameplate capacity by the end of 2023,” added Buffington.
Underground contractor update
Regarding the contractor update, a bid process is in the final stages of negotiations for a unit rate contract with a major mining services contractor.
Diving further into the contract, 72,000 feet of lateral capital development is on the table over a two-year period.
The company also plans on its operating team starting all stope mining in Q3 2023.
Many other aspects of the company are well on their way to development. The vent shaft started in January and is expected to be commissioned in early Q2 this year.
In addition, the ore handling system is complete, and all long-lead items are on-site, including the jaw crusher.
Lastly, the dewatering system is also on site and ready for installation. Once put into place, the pumps are expected to give all dewatering requirements for the life of the mine.
Pumpkin Hollow and more
The company completed a thorough review of regional mapping for its Pumpkin Hollow land position.
As a result, several surface sampling results came to be from the Copper Ridge area. The area is home to high-grade potential, highlighted by grades including 5.03 per cent and 5.43 per cent copper.
This year, the plan is to go over detailed mapping, interpretation of recent geophysical analysis and surface sampling for identified high-potential targets.
Nevada Copper is a copper producer and owner of the Pumpkin Hollow copper project.
Nevada Copper (NCU) is down 1.25 per cent, trading at C$ 0.40 at 3:37 pm EST.
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Nevada Copper (TSX:NCU) restarts production at Pumpkin Hollow