Nevada Copper Corp (TSX:NCU, OTC:NEVDF), the owner of the Pumpkin Hollow copper project in Nevada which has substantial reserves and resources including copper, gold and silver, said it has filed its financial statements for the year ended December 31, 2022.
“We continue to make excellent progress on the construction projects that are required ahead of stope mining and milling activities at Pumpkin Hollow. The vent shaft stripping and excavation for the ore handling system are well underway,” Randy Buffington, Nevada Copper president & CEO said in a statement.
“Ongoing mining and development activities advancing towards higher grade EN Zone stoping areas continue to demonstrate competent rock quality and ground conditions as predicted in the geotechnical rock model, fully in-line with expectations. We are currently on track to meet our primary restart and ramp-up goal of achieving nameplate milling capacity by the end of 2023," he added.
READ: Nevada Copper updates investors on restart of Pumpkin Hollow copper mine
The company said its principal objective for 2023 is to have the underground mine operating at nameplate milling capacity of 5,000 tons per day (tpd) by year-end with all critical underground infrastructure complete and sufficient advance development to support sustained operations.
Nevada Copper plans underground lateral development of 24,000 feet for 2023 in order to establish capital headings and stope development ahead of the commencement of stope mining planned in the third quarter of 2023. Mill restart is scheduled for late in the third quarter of 2023 at an expected rate of approximately 3,500 tons per day, ramping up to 5,000 tpd by the end of 2023.
The results filings can be found on the company’s website at www.nevadacopper.com and its SEDAR profile at www.sedar.com.
Contact the author at jon.hopkins@proactiveinvestors.com