Copper Mountain provides operational update and first quarter results
Web Site: www.CuMtn.com
VANCOUVER, April 16, 2013 /CNW/ - Copper Mountain Mining Corporation (TSX:
CUM) (the "Company" or "Copper Mountain") announces production results for the
first quarter of 2013 from the Copper Mountain mine located in southern
In the first three months of 2013 the mine shipped 29,400 wmt of concentrate
containing approximately 15 million pounds of copper, 5,900 ounces of gold,
and 69,000 ounces of silver generating an estimated $62.3 million in gross
The mine produced 14.2 million pounds of copper, 5,300 ounces of gold, and
64,200 ounces of silver during the first three months of operations in 2013.
The mill processed a total of 2.2 million tonnes at an average grade of 0.349
% Copper. Copper production was below the 2013 average guidance but
significant mill throughput improvements were achieved in the latter half of
March which will enhance the balance of 2013.
Mining activities continued from the Pit 2 and Pit 3 areas on plan and
averaged approximately 170,000 tonnes per day. During the quarter a total of
15.5 million tonnes of material was mined, including 4.3 million tonnes of ore
and 10.4 million tonnes of waste. The projected life of mine strip ratio is 2
to 1 but higher in the early years.
Mill throughput improved significantly after the scheduled maintenance
shutdown in early March. As noted during the year end conference call, the
mill achieved a 93.3% availability during February and after a planned
shutdown in early March, the mill achieved above budget availability of 92% to
the end of the month as compared to an availability of 85.9% averaged during
the first quarter. Prior to the shutdown in early March a contractor was
engaged to crush a 70,000 tonne sample of our hardest Pit 3 ore to minus two
inch. Upon starting up on March 8(th) the mill treated the finely crushed
sample and demonstrated that with pre-crushing the SAG mill can achieve
throughput rates above the designed 35,000 tpd. The test confirmed that
secondary crushing is an option to pursue to ensure stable and consistent
increased long term mill throughput rates for ore from all Pit areas.
Immediately following the fine crush sample a test was completed with ore from
high intensity blasting and limited supplemental pre crushing. This test also
successfully demonstrated increased mill throughput and has provided a path
for short term tonnage improvements. Plans are to continue to utilize high
intensity blasting that creates more fines in the SAG Mill feed and continue
with a contractor to crush up to 10,000 tpd of minus 2inch SAG mill feed.
Management will continue to evaluate the pre crush solutions for a final
decision as to the long term plan by mid-year.
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located
in southern British Columbia near the town of Princeton. The Company has a
strategic alliance with Mitsubishi Materials Corporation who owns the
remaining 25%. The Copper Mountain mine commenced production in the summer of
2011, and has continued to improve its operations during the year; and
attained design capacity in the summer of 2012. The 18,000 acre site has a
resource of approximately 5 billion pounds of copper and remains open
laterally and at depth. The mine has significant exploration potential that
will need to be explored over the next few years to fully appreciate the
properties full development potential. Additional information is available
on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng.
Chief Executive Officer
Note: This release contains forward-looking statements that involve risks
and uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the documents, filed by the
Company on SEDAR at www.sedar.com, specifically the most recent reports which
identify important risk factors that could cause actual results to differ from
those contained in the forward-looking statements. The Company undertakes no
obligation to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statement.
Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email:Galina
@CuMtn.com or Rod Shier, Chief Financial Officer 604-682-2992 ext.222
SOURCE: Copper Mountain Mining Corporation
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CO: Copper Mountain Mining Corporation
ST: British Columbia
NI: MNG ERN
-0- Apr/16/2013 14:11 GMT
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