VANCOUVER, British Columbia, Nov. 17, 2020 (GLOBE NEWSWIRE) — Kutcho Copper Corp. (TSXV: KC, OTC: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to announce it has begun work on a feasibility study for its high grade Kutcho copper-zinc development project located in northwestern British Columbia. CSA Global Consultants Canada Ltd. (“CSA Global”, an ERM Group company) has been chosen to lead the feasibility study and will be supported by a team of resource, geotechnical, environmental, metallurgical, processing, and mining consultants.
“With a significant amount of preliminary work already completed, and now the selection of CSA Global to lead the feasibility study, we look forward to an efficient and timely process in completing the next significant milestone in the life cycle of the Kutcho project,” stated Vince Sorace, President and CEO of Kutcho Copper. “We have recently seen an encouraging rise in the price of copper and, along with bullish sentiment for the coming years and the accelerating trend towards the electrification of everything, Kutcho is well positioned to take advantage of this anticipating completion of the feasibility study in Q2, 2021. Kutcho is a high margin, low capital project with significant upside potential; our objective in 2021 will be to continue to de-risk and advance the project towards a production decision.”
Under the engineering lead of CSA Global, who will undertake the mining, hydrology and site water balance work, the feasibility study team will be supported by Mineit for mining engineering, processing and recovery, reserve estimation and financial modelling; Allnorth for process plant and infrastructure design and engineering and Piteau Associates for waste and tailings management engineering and design. Incorporated into the feasibility study team, but contracted directly to Kutcho Copper, will be SIM Geological Inc. for resource modeling and estimation, Terrane Geoscience Inc. for mining geotechnical engineering, and OnSite Engineering Inc. for main access road design and engineering.
Kutcho PFS Highlights (2017)
Kutcho Copper completed a Pre-Feasibility study (“PFS”) dated July 31, 2017 that demonstrated positive economics with an after-tax NPV of CAD$265 million and an IRR of 27.6%. The Company completed the acquisition of the project in December 2017 with the support of Wheaton Precious Metals, involving a staged financing package of over $100 million. The Kutcho project benefits from existing ground access, and an on-site camp and airstrip. Proximal highway access will facilitate the shipping of concentrate from the nearby port at Stewart.
Additional details can be found in the technical report on SEDAR.
Significant Milestones Achieved in 2019 & 2020 to be Incorporated into the Feasibility Study Include:
1) Completed an updated mineral resource estimate for the Main, Esso and Sumac deposits resulting in 17.26 Mt of measured & indicated mineral resources at 2.61% CuEq1 and 10.71MT of Inferred mineral resources at 1.67% CuEq1 (refer to Table 1 below for details).
Significant exploration potential remains between, below and along strike from the existing mineral resources, providing further upside opportunities to grow the size of the project.
The updated mineral resource incorporates the significant work and new drilling conducted by Kutcho Copper during its first year of ownership of the Project, resulting in a substantial 84% increase in inferred mineral resources compared to the 2017 resource estimate. See news release dated March 4th, 2019 and our website at www.kutcho.ca or SEDAR at www.sedar.com for the 2017 NI 43-101 Technical Report for previous mineral resource estimate details.
SOURCE: Kutcho Copper
DATE: November 17, 2020