The brownfield challenge transformed 1.2 billion lb. of copper into the measured class and confirmed the Parks/Salyer useful resource space and the brand new MainSpring property as one single deposit. It accommodates about two-thirds of the whole mineral useful resource (4.8 billion lb. measured and indicated, and a couple of.6 billion lb. inferred) at Cactus.
“The brand new Parks/Salyer deposit, inclusive of MainSpring, could possibly be transformational for the corporate,” CEO George Ogilvie mentioned in a launch. “We foresee the chance to right-size a bigger operation and rescope Parks/Salyer to an open pit mine.
“The pending consequence would result in lowered mining execution dangers and lowered working prices which may manifest themselves in improved challenge economics.”
In comparison with the challenge’s first useful resource established in 2021, the brand new estimate exhibits 353% extra measured and indicated contained copper. The bounce was 94% in inferred contained copper.
Open-pit idea
The expanded Parks/Salyer deposit is amenable as an open pit to be included into a brand new preliminary financial evaluation (PEA) the corporate goals to finish this summer time. A optimistic PEA and a brand new prefeasibility examine may see a accomplished definitive feasibility examine by the top of subsequent yr.
Additionally comprising the challenge are the Cactus West and Cactus East deposits in addition to the Stockpile space, all situated alongside a 5.5-km pattern. No materials modifications had been reported for these useful resource areas because the final replace.
In response to Doug Bowden, Arizona Sonoran’s vice-president of exploration, these mineral useful resource areas have responded “favorably and impressively” to infill drilling with a persistently excessive conversion charge into greater classifications.
The corporate accomplished a prefeasibility examine for the Cactus challenge this yr outlining a 21-year copper operation producing 110 million lb. of payable metallic yearly. Its after-tax web current worth at an 8% low cost is estimated at $515 million, with an inner charge of return of 15.3%.