Nevada Copper provides update on operational progress
YERINGTON, Nevada, November 30, 2021 (GLOBE NEWSWIRE) – Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper“or the”Society”) Today provided an update on its operations, including advancements from the Company’s underground mine to its Pumpkin Hollow project (the“ Underground Mine ”) and an update on its 2022 development plan.
Highlights of underground mining operations
- Lateral development rates continue to increase. The Company has advanced approximately 760 lateral equivalent feet over the past 30 days, a 20% increase in average daily length over the previous 30 days. Lateral development continues on several capes, providing access to ore extraction areas in the southeast deposit and advancing development towards the northeast deposit.
- The sugar cube will be blasted shortly. The high-grade Sugar Cube zone is expected to be drilled in December and mining is expected to begin early in the first quarter of 2022. This will be the first stope mined in the East North deposit, which is expected to have better and much better soil conditions. plus job sizes.
- Processing plant working well. The mill continues to operate to design specifications with the milling, flotation, thickening and filtration circuits of the concentrates performing well mechanically. The Company anticipates an increase in production and recovery rates with the addition of the Sugar Cube zone to the ore feed of the processing plant in the first quarter of 2022.
- Surface fans on time. Surface fans are expected to arrive on site in approximately 3 weeks and installation and commissioning should be completed on time as per mine plan requirements.
Update of the 2022 development plan
- Surface drilling and progression. With additional funding received from the Company’s recent public offering, the Company intends to undertake an infill drilling campaign and update its surface studies to reflect the opportunities for increased production. scale, larger resources, and other optimization workflows. Further updates on the Company’s 2022 development plan will be released shortly.
“I am pleased with the operational advancements we made this month as we build on the progress of the third quarter,” said Randy Buffington, President and CEO. “Our development rates continue to increase on a weekly basis and will soon provide access to larger, high-grade jobsites, which should result in an increase in the ore feed delivered to our fully operational processing plant for an additional step. in our progress of ramping up. . “
The information and technical data in this press release has been reviewed by Greg French, CPG, vice president responsible for exploration for Nevada Copper, and Neil Schunke, P.Eng., Consultant to Nevada Copper, who are qualified persons who are not independent within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has significant reserves and resources, including copper, gold, and silver. Its two fully licensed projects include the high-grade underground mine and processing facility, which are now in production, and a large-scale surface mine project, which is progressing to feasibility status.
NEVADA COPPER CORP.
Randy Buffington, President and CEO
For more information contact:
Rich Matthews, Investor Relations
+1 604 757 7179
This press release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These forward-looking statements and forward-looking information include, but are not limited to, statements relating to mining development, production and ramp-up targets, installation of equipment, drilling programs and completion of ‘a new feasibility study.
Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted. “,” Budget “,” planned “,” estimates “,” forecast “,” intention “,” anticipate “or” believe “or the negative aspects thereof or variations of these words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “could” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be interpreted as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause actual results and events to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements or information.
These risks and uncertainties include, but are not limited to, those related to: the Company’s ability to complete the ramp-up of the underground mine on time and on estimated costs; additional capital requirements and no assurance can be given as to their availability; the impact of the COVID-19 pandemic on the Company’s business and operations; the state of financial markets; loss history; dilution; adverse events related to grinding operations, construction, development and ramp-up, including the Company’s ability to resolve underground development and processing plant issues; soil conditions; cost overruns related to the development, construction and ramp-up of the underground mine; loss of material properties; interest rates rise; Mondial economy; limited history of production; future fluctuations in metal prices; speculative nature of exploration activities; periodic interruptions of exploration, development and mining activities; environmental risks and liability; work accident; failure of processing and mining equipment to perform as intended; labor disputes; supply problems; uncertainty of production and cost estimates; interpretation of drilling results and estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, mineralization grade or recovery rates from management expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increasing costs and physical risks associated with climate change, including extreme weather events, and new or revised climate change regulations; permits and licenses; volatility of the market price of the Company’s securities; Assurance; competetion; hedging activities; currency fluctuations; the loss of key employees; other mining industry risks as well as the risks discussed in the Company’s management report for the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s annual information form dated December 18, 2020. March 2021. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those described in the forward-looking statements or information. Forward-looking information or statements are made as of the date hereof. Nevada Copper disclaims any intention or obligation to update any forward-looking statements or information, except as required by law. Readers are referred to additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with securities regulatory authorities in Canada. Although the Company has attempted to identify material factors which could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors which could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors which could cause actual actions to differ. actions, events or results are not as expected, estimated or expected. For more information about Nevada Copper and the risks and challenges facing its business, investors should consult the Nevada Copper filings which are available at www.sedar.com.
Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Therefore, readers should not place undue reliance on forward-looking statements or information.