- MacArthur project boasts access to excellent infrastructure
- Open-pittable resources
- The company has assets in good jurisdictions
What Lion Copper and Gold does:
Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF), formerly called Quaterra Resources Inc, is a Canada-based company advancing the MacArthur copper project in Nevada, USA, and exploring its Chaco Bear and Ashton properties in British Columbia, Canada as the world turns to a cleaner, greener, less carbon-based future.
The MacArthur asset sits in Mason Valley, a large, historic copper camp within a land package spanning 51 square miles. The project is a large-scale, low-cost, heap leach operation with potential for near-term production of pure copper cathode.
It currently hosts 676 million pounds of copper oxide in the higher confidence measured and indicated (M&I) resource and 980 million pounds in the inferred.
The company is targeting the completion of a pre-feasibility study (PFS) by the third quarter of 2022, while a 2021 drill program is aimed at expanding the oxide resource and exploring for deeper, sulfide targets. It also aims to update the resource estimate in the first quarter of 2022.
The firm says there is high-grade sulfide mineralization under the oxide cap, which is open to the north of the property. A northernmost hole hit 64 feet (ft) averaging 1.31% copper in a 1,673 ft interval, which included 21 ft averaging 2.21% copper at 1,089 ft.
Also in the company's land package in Nevada, it holds a portfolio of deposits, which, it says, represent a brownfields redevelopment opportunity and significant exploration upside.
Meanwhile, Lion Copper and Gold's British Columbia assets comprise the Chaco Bear property and the Ashton property, both of which have copper and gold potential.
How is it doing:
Shares started trading under the new name of Lion Copper and Gold and stock symbol 'LEO' on the TSX Venture Exchange on November 22, 2021
On November 9, the company said it had selected NewFields Companies LLC to lead environmental permitting efforts for the MacArthur oxide copper project.
NewFields is a leading global environmental engineering and construction management firm with expertise in natural resource and development projects, specifically in Nevada. The company also told investors it had selected EM Strategies - a WestLand Resources Inc company - to complete the baseline environmental studies for the project.
On November 3, the company announced the appointment of David Harvey, a Nevada-based professional geologist with over 35 years' experience, as vice-president (VP) of exploration.
And in October, McClelland Laboratories Inc was hired to complete a metallurgical testing program of the 12 ton (11 tonne) representative sample collected in the 2021 drilling campaign from the MacArthur oxide copper project - a key part of the pre-feasibility study (PFS).
That same month, the firm announced the closing of an oversubscribed non-brokered private placement, raising a total of more than US$4.1 million.
Inflection points:
- Drilling progress at MacArthur copper project
- Updated resource estimate
- Copper price moves
What the boss says:
"With growing assets in the highly prospective regions east of the Golden Triangle and within the Spences Bridge Gold Belt in B.C. Canada, and an active flagship copper project in Nevada taking steps toward the domestic production of copper, the name change marks our commitment to play a lead in sustainable mining approaches in the support of the renewable energy economy, while also positioning ourselves for compelling growth potential," said Lion Copper and Gold CEO Travis Naugle, in a recent announcement about the company name change.
Contact the author at giles@proactiveinvestors.com