Vancouver Higher head-grades and recoveries allowed EuroZinc Mining (EZM-T) to boost copper production during the latest quarter at its wholly owned Neves-Corvo mine in southern Portugal.
The average grade increased to 5.36% in the second quarter of this year from 4.73% in the first quarter of 2005, resulting in a year-to-date head-grade of 5.04% copper. Recoveries rose to 89.4% from 86.4% over the same period. As a result, the mine produced 24 million tonnes of contained copper in the latest quarter, up from 21 million tonnes of copper-in-concentrates in the first quarter.
Neves-Corvo is Europe’s largest producing copper mine and has been in production since 1989. EuroZinc acquired the underground operation through a bidding process in early 2004.
The company plans to convert an existing tin circuit at Neves-Corvo to handle zinc ores from a zinc resource, estimated at 8.5 million tonnes grading 10.5% zinc. The company originally considered annual throughput of 350,000 tonnes, but given the high zinc grades and the significant indium content of the ore, the circuit may now be expanded to handle 700,000 tonnes per year.
EuroZinc has applied for, and plans to explore, several concessions that cover more than 100 km of prospective stratigraphy on strike with Neves-Corvo and the company’s nearby Aljustrel zinc project.
Recent exploration at the existing Neves-Corvo lease has upgraded resources at the Zambujal deposit to the indicated category. Results from this drilling and a new resource estimate are expected shortly.
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