Copper Mountain Provides Third Quarter Operational Update
VANCOUVER, Oct. 8, 2013
Web Site: www.CuMtn.com
VANCOUVER, Oct. 8, 2013 /PRNewswire/ - Copper Mountain Mining Corporation
(TSX: CUM) (the "Company" or "Copper Mountain") announces production results
for the third quarter of 2013 from the Copper Mountain mine located in
southern British Columbia.
The mine had record copper production for the quarter and exited the quarter
on a positive note with September's copper production totaling 6.8 million
pounds. Production for the quarter ended September 30, 2013 totaled 17.7
million pounds of copper, 6,417 ounces of gold, and 79,290 ounces of silver.
Production improvements can be attributed to the increased average mill
throughput rate made possible with the short term secondary crushing
strategies that have been implemented and improved in late July. These short
term strategies include: utilizing an increased powder factor in the blasting
in the mine to create more fines in the ore; continuing with a contract
portable crusher at the primary crusher to crush plus 5,000 tpd of ore to
minus two inches; and the introduction of the Company's own small portable
crusher that was purchased and installed at the coarse ore stockpile during
the quarter. The combination of these three activities is designed to create
between 12,000 tpd and 13,000 tpd of minus two inch ore feed for the SAG mill.
In September the average daily throughput of the SAG mill was 31,925 tpd with
an average of 7,600 tpd minus 2 inch crushed product from the portable
crushers. Mill availability at 94.2% for the month was a positive contribution
to the 89.3% average for the quarter.
Mill throughput during the quarter improved to an average of 29,130 tpd
compared to 26,000 for the first half of 2013, an increase of 12%. The mill
processed a total 2.7 million tonnes of ore at an average grade of 0.344 %
copper during the quarter as compared to 2.5 million tonnes of ore for the
three months ended June 2013. Mill recoveries for the third quarter were 87%
as compared to 85% for the first half of 2013.
Mining activities continued in both the Pit 2 and Pit 3 areas on plan and
averaged approximately 154,300 tonnes per day mined. During the quarter a
total of 14.0 million tonnes of material was mined, including 3.9 million
tonnes of ore and 9.4 million tonnes of waste. The projected life of mine
strip ratio is 2 to 1 but higher in the early years.
For the third quarter ended September 30, 2013 the mine shipped 32,840 wmt of
concentrate containing approximately 16.3 million pounds of copper, 5,967
ounces of gold, and 69,427 ounces of silver generating an estimated $61.8
million in gross revenue.
All production figures are reported on a 100% basis.
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.
SOURCE Copper Mountain Mining Corporation
Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email:Galina
Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email:Rod@CuMtn.com
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