U.S.REPORT AZCO advances Arizona copper deposit

The generally bullish outlook for copper has a privately-held junior aiming to develop an Arizona deposit which contains an estimated 168 million tons averaging 0.336% copper at a 0.2% cut-off grade. The property also contains a further 23.1 million tons of lower grade reserves averaging 0.176% copper.

The Arizona Copper Company (AZCO) views the Sanchez oxide porphyry copper deposit as being amenable to open pit mining, heap leaching, solvent extraction and electrowinning (SX-EW) technology.

The SX-EW processing method is being closely watched by a number of mining companies because it has the potential to transform the economics of certain copper deposits which had previously not been considered viable.

Based on a full feasibility study by an independent engineering firm (and subject to qualifications in the report), the company estimates a mine could be put into production at a cost of about US$75 million.

Copper production is expected to average 24,850 tons per year during the life of the project (estimated to be 17 years or more), and the average operating cost is estimated to be US49 cents per lb. of cathode copper produced. Because acid constitutes 50% of process costs and 30% of overall operating costs, the project may have some sensitivity to acid consumption and future acid prices.

The overall mine life stripping ratio is reported to be 1.08-to-1, and crushing is required before leaching. The property is easily accessible, and near all necessary infrastructure to support a mining operation.

“Our plans are to continue to advance this project to production,” said Allan Lindsay, AZCO vice- president. “However, if a major mining company made the right offer, we might consider entering into a joint venture or selling the project outright.”

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