Continuing its pattern of picking up small copper deposits, Arimetco International (TSE) has agreed to acquire the Sullivan deposit near Gabbs, Nev.
The property, also known as the Cuervo, is an intrusive-hosted, copper-gold occurrence held by Omega Resources.
The orebody contains about 17 million tons of oxidized material grading 0.34% copper and 0.026 oz. gold per ton. Additional reserves amount to about 8.5 million tons grading 0.31% copper.
Arimetco plans to produce the red metal via solvent
extraction-electrowinning. The open-pit operation would mine 85,000 tons of ore per week for a period of eight years, and produce 60,000 lb. of copper per day.
The company plans to produce about 70,000 oz. gold per year for the first five years. However, it has not disclosed a production method as of yet.
The permitting process is expected to last at least one year.
Be the first to comment on "Arimetco takes on the Sullivan deposit"