Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) said on Friday that construction at its fully permitted Johnson Camp Mine (JCM) in southeast Arizona is progressing on schedule, with first cathode production expected in the third quarter of 2025.
Mining of mineralized material began in January, with stockpiling underway ahead of the leach pad’s completion.
Phase one of the leach pad is finished, and phase two is advancing, the company said.
Installation of Nuton's processing equipment will follow, enabling the start of stacking sulfide and oxide material.
Gunnison has also completed the redesign and construction of a modern on-site laboratory for material and process analysis, set to begin operations in April.
“The fast pace at which our construction partners continue to progress the Johnson Camp project is nothing short of impressive,” said Robert Winton, Gunnison’s senior vice president of operations.
“In roughly 12 months, we will have transformed Gunnison Copper into a nimble open-pit copper producer with a future as bright as the Arizona sky we enjoy daily.”
Shares of Gunnison Copper shot over 26% higher by Friday afternoon in Toronto to trade at C$0.29.
Separately, the company announced that long-time board member Stephen Axcell has retired as a director. Axcell, who joined in 2018, played a key role in Gunnison’s development, the company said.