VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) — Kutcho Copper Corp. (TSXV: KC, OTC: KCCFF) (“Kutcho Copper” or the “Company”) is pleased to provide a progress update regarding the feasibility study being led by CSA Global Consultants Canada Ltd. (“CSA Global”, an ERM Group Company) on the high grade Kutcho Copper – Zinc Project, which is on target for completion mid-year 2021.
“As an underground mining scenario is being thoroughly developed in support of the current feasibility study, options for a combination of alternative mining methodologies for the various deposits are also being evaluated to develop a project that is optimal in terms of economic returns and environmental outcomes and that is sensitive to community objectives,” said Vince Sorace, President & CEO of Kutcho Copper Corp. “We look forward to the results of this optimization of development strategies and to potentially expanding the benefits of the Kutcho project.”
Items substantially completed to date include:
- The underground mine access and development have been designed on the basis of an updated geological model, resource estimation and structural features. The underground mine design has been through a number of iterations as a function of stope and geotechnical parameters. Production throughput has been adequately and realistically defined by the constraints imposed by stope sequencing and ore release based on an efficient and cost effective longitudinal long hole stoping mining methodology.
- The mine plan utilizes block selection on an NSR basis that recognises not only historical pricing and cost relationships but considers the significant changes in the copper and zinc markets since the publication of the 2017 pre-feasibility study (“2017 PFS”).
- Extensive confirmatory metallurgical testwork was completed at the beginning of the year, based on the revised metallurgical process and results derived and reported by the Company throughout 2020. The results confirmed the process and reagent scheme previously reported and is expected to provide enhanced metal recoveries compared with the 2017 PFS.
- The surface infrastructure for the underground mine has been designed to provide a more compact footprint and eliminate any encroachment on creeks with sensitive fish habitats in order to facilitate an environmentally sound project and enhance permitting timelines. The Tailings Management Facility, which is in the final stages of design, will reflect a construction methodology that ensures stability and safety throughout the facility’s life and minimises long term post-closure impacts.
- On-site power generation using LNG generator sets is still considered the most economical power supply option.
- The access road alignment and construction methodology are essentially the same as that set out in the 2017 PFS. Due consideration has been given to optimising bridge construction. Construction scheduling to facilitate early and timeous equipment delivery for project construction is an integral part of the design process.
Rory Kutluoglu, B.Sc. P.Geo., a Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Mr. Kutluoglu is the Company’s Exploration Manager.
About Kutcho Copper Corp.
Kutcho Copper Corp. is a Canadian resource development company focused on expanding and developing the Kutcho high grade copper-zinc project in northern British Columbia. Committed to social responsibility and the highest environmental standards, the Company intends to progress the Kutcho Project through feasibility and permitting to a positive construction decision.
President & CEO, Kutcho Copper Corp.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Kutcho Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Kutcho project or its other projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the potential to convert inferred resources to indicated or measured resources, the potential to optimize the mine plan, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Kutcho project and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
SOURCE: KUTCHO COPPER
DATE: March 31, 2021