Project:
Copper World Complex Copper-Molybdenum-Silver project
Status:
Development
Location:
Pima County, Arizona, USA
Ownership:
100% owned by Hudbay Minerals Inc. (“Hudbay”)
Royalty:
0.165% net smelter return royalty (“NSR”) covering 132 patented claims (all of the patented claims associated with Copper World Complex), 603 unpatented claims, and one parcel of fee associated land.
Nova retains a Right of First Refusal (“ROFR”) in respect to an additional 0.510% NSR covering the same area at Copper World Complex.
As of May 1, 2022, Hudbay disclosed the mineral resource estimates for Copper World as:
Copper World Complex Mineral Resource Estimates 1,2,3
Tonnes (millions) | Cu Grade (%) | Soluble Cu Grade (%) | Mo Grade (g/t) | Ag Grade (g/t) | ||
Flotation | Measured | 687 | 0.45 | 0.05 | 138 | 5.1 |
Indicated | 287 | 0.36 | 0.06 | 134 | 3.6 | |
Total Measured and Indicated | 973 | 0.42 | 0.05 | 137 | 4.6 | |
Inferred | 210 | 0.36 | 0.05 | 119 | 3.9 | |
Leach | Measured | 105 | 0.37 | 0.26 | - | - |
Indicated | 94 | 0.35 | 0.26 | - | - | |
Total Measured and Indicated | 200 | 0.36 | 0.26 | - | - | |
Inferred | 52 | 0.40 | 0.29 | - | - |
Note: totals may not add up correctly due to rounding.
1 Mineral resource estimates that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not include factors for mining recovery or dilution.
2 Mineral resource estimates constrained to a Lerch Grossman pit shell with a revenue factor of 1.0 using a copper price of $3.45 per pound.
3 Using a 0.1% copper cut-off grade and an oxidation ratio lower than 50% for flotation material, and a 0.1% soluble copper cut-off grade and an oxidation ratio higher than 50% for leach material.
Copper World Complex Comparison of Mineral Resource Estimates 1,2
2017 | 2022 | %Change | |||||||
Tonnes (millions) |
Cu (%) |
Cu (000 tonnes) |
Tonnes (millions) |
Cu (%) |
Cu (000 tonnes) |
Tonnes (millions) |
Cu (%) |
Cu (000 tonnes) |
|
Measured and Indicated | 1,147 | 0.36 | 4,129 | 1,173 | 0.41 | 4,829 | 2% | 14% | 17% |
Inferred | 75 | 0.30 | 224 | 262 | 0.37 | 957 | 252% | 22% | 328% |
Note: totals may not add up correctly due to rounding.
1 2017 mineral resource estimates are inclusive of mineral reserve estimates.
2 2022 mineral resource estimates include both flotation and leach material.