Vancouver – The initial batch of cathodes at Frontera Copper‘s (FCC-T, FRCPF-O) Piedras Verdes mine in Sonora State, Mexico have been extracted to yield the company’s first metal production.
The cathodes mark commencement of commercial production at the SX-EW (solvent extraction-electrowinning) project scheduled to output almost 32,000 tonnes (70 million lbs.) of LME Grade “A” copper cathode annually over its initial 12 years. The open-pit heap-leach operation has a projected 18-year mine-life with life-of-mine cash operating costs expected at US$0.79 per lb. of copper including a 3% net smelter royalty.
The deposit is a porphyry with ore comprised of oxide copper (chrysocolla and neotocite/tenorite), limonitic copper, copper oxides with native copper and cuprite, chalcocite, and mixed oxide-chalcocite mineralization. Proven and probable reserves stand at 191 million tonnes grading 0.36% copper with additional resources identified adjacent to and below the open pit.
With its 48.7 million shares outstanding, Frontera Copper posts a $244-million market capitalization at its recent $5.00 trading level.
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