An initial open pit has been designed that contains 10 million tons of ore at a grade of 0.4% copper and a waste-to-ore ratio of 0.35 to 1.0.
Within the above reserves, mine plans call for an initial annual output of 1.5 million tons of ore, producing 8-10 million lb of copper per year. This production could be doubled in following years, using the existing plant and facilities, the company said.
Mining will be by conventional open pit methods and processing will utilize solvent extraction and electrowinning to produce 99.99% pure copper for sale on the spot market.
According to Timerline’s annual report, cash costs are expected to be less than 60 cents per lb of copper produced, and capital costs are anticipated to be on the order of $6-8 million.
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