AQM Copper Inc. (TSXV:AQM) announced the positive results of the Preliminary Economic Assessment for the Zafranal Project located in the Southern Peru Porphyry Copper Belt.
As quoted in the press release:
- PEA HIGHLIGHTS
- Measured and Indicated Resource is 557.2 Mt grading 0.36% Cu and 0.07 g/t Au.
- The portion of the reported resource within an economic pit shell (“in-pit mineral resource”) suitable as feed to a concentrator totals 425.3 Mt grading 0.38%Cu and 0.07 g/t Au, and contains 3.5 billion pounds of copper and 977,000 ounces of gold.
AQM’s President and CEO, Bruce Turner, said:
We are very pleased with the PEA for the Zafranal Project, as it indicates the economic viability of the Project in a jurisdiction favourable to mining. In the preparation of the PEA, we did not find any serious flaws in the selected development scenario or any significant technical challenges in the proposed design and construction of the facilities. We did identify alternative approaches that could significantly enhance the feasibility of the Project´s development including a smaller, less capital-intensive project focused on the higher-grade supergene zone, and the elimination of the desalination option for water supply, which represents $275M in capital cost and $20M per year in operating costs.