Canada-based MinCore has announced the completion of a positive preliminary economic assessment (PEA) study, which confirmed the economic potential of the Tameapa copper-molybdenum project in Sinaloa, Mexico.
The Tameapa Project features Pico Prieto and Venado deposits, which are located about 800m apart.
The PEA, conducted by AGP Mining Consultants, gave life of mine production at 3.6 billion pounds of copper equivalent metal (CuEq) and envisions a conventional open-pit mine at the Pico Prieto deposit and an underground sub-level caving mine at the Venado deposit.
MinCore CEO David Jones said the study confirms both the economic and technical viability of the Tameapa Project.
"This is a copper-molybdenum project that represents a tremendous opportunity to bring to market a large, low cost copper project into an anticipated strong world copper market," said Jones.
Capital payback is estimated at 3.5 years, with annual production over the first five years of 215 million pounds of CuEq, which averages 185 million pounds annually life of mine (LOM).
Image:The Tameapa project is is expected to produce 215 million pounds of copper equivalent metal in the first five years of operation.Photo: Materialscientist.