Project:
Copper World & Rosemont Copper-Molybdenum-Silver project
Status:
Development
Location:
Pima County, Arizona, USA
Ownership:
100% owned by Hudbay Minerals Inc. (“Hudbay”)
Royalty:
0.135% net smelter return royalty (“NSR”) covering 132 patented claims (all of the patented claims associated with Copper World and Rosemont), 603 unpatented claims, and one parcel of fee associated land.
Nova retains a Right of First Refusal (“ROFR”) in respect to an additional 0.540% NSR covering the same area at Copper World and Rosemont.
As of December 1, 2021, Hudbay disclosed the mineral resource estimates for Copper World as:
Copper World Global Mineral Resource Estimate as at December 1, 2021(1)
Grade | ||||||
Potential Processing Method | Classification | Metric Tonnes | CuT (%) | CuSS (%) | Mo (g/t) | Ag (g/t) |
Flotation | Indicated | 180,000,000 | 0.37 | 0.07 | 136 | 2.7 |
Inferred | 91,000,000 | 0.36 | 0.05 | 129 | 3.8 | |
Leach | Indicated | 92,000,000 | 0.34 | 0.27 | 74 | 3.4 |
Inferred | 51,000,000 | 0.35 | 0.27 | 61 | 2.5 | |
Total | Indicated | 272,000,000 | 0.36 | 0.13 | 115 | 2.9 |
Inferred | 142,000,000 | 0.36 | 0.13 | 105 | 3.3 |
Copper World High Grade Mineral Resource Estimate as at December 1, 2021(1)
Grade | ||||||
Potential Processing Method | Classification | Metric Tonnes | CuT (%) | CuSS (%) | Mo (g/t) | Ag (g/t) |
Flotation | Indicated | 48,000,000 | 0.68 | 0.14 | 125 | 4.0 |
Inferred | 13,000,000 | 0.78 | 0.18 | 136 | 3.6 | |
Leach | Indicated | 48,000,000 | 0.46 | 0.37 | 68 | 4.2 |
Inferred | 18,000,000 | 0.66 | 0.49 | 50 | 3.7 | |
Total | Indicated | 96,000,000 | 0.57 | 0.26 | 97 | 4.1 |
Inferred | 31,000,000 | 0.71 | 0.36 | 86 | 3.7 |
As of January 1, 2021, Hudbay disclosed the mineral reserve and resource estimates for Rosemont as:
Rosemont Mineral Reserve Estimate as at January 1, 2021(2)
Grade | ||||
Classification | Tonnes | Cu (%) | Mo (g/t) | Ag (g/t) |
Proven | 426,100,000 | 0.48 | 120 | 4.96 |
Probable | 111,000,000 | 0.31 | 100 | 3.09 |
Proven & Probable | 537,100,000 | 0.45 | 120 | 4.58 |
Rosemont Mineral Resource Estimate as at January 1, 2021(2)
Grade | ||||
Classification | Tonnes | Cu (%) | Mo (g/t) | Ag (g/t) |
Measured | 161,300,000 | 0.38 | 90 | 2.72 |
Indicated | 374,900,000 | 0.25 | 110 | 2.60 |
Measured & Indicated | 536,200,000 | 0.29 | 110</strong | 2.64 |
Inferred | 62,300,000 | 0.30 | 100 | 1.58 |
Notes:
(1) Refer to the press release titled “Hudbay Announces Initial Mineral Resource Estimate at Copper World” published by Hudbay Minerals Inc. dated December 15, 2021.
(2) Refer to the Hudbay Minerals Inc. Annual Information Form for the year ended December 31, 2020.