Copper Mountain Mining Corporation
Copper Mountain's flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton.
The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine.
The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential will be explored over the next few years in order to fully appreciate the property's full development potential. Additional information is available on the Company's web page at www.CuMtn.com.
(1) Copper Mountain Mine, Southern British Columbia
Exploration at Copper Mountain
2016 Exploration Program
A 5,000 meter drill program was completed in the third quarter. The drill program was designed to convert inferred resources into measured and indicated status on the western end of Pit 2.
The Program was successful in upgrading inferred resources to measured and indicated. This increase in resources provides the opportunity to extend the Pit 2 area further to the west. Further drilling is planned in 2017.
(2) Fenton Project, British Columbia
The Fenton Property is located 33 km south of Houston, British Columbia and is an advanced stage polymetallic exploration project with significant potential.
Exploration at Fenton Project:
Management and Directors
James C. (Jim) O'Rourke, P.Eng., OBC., Chief Executive Officer and Director
Mr. O'Rourke has more than 40 years of hands–on experience in mine evaluations, development, project financing, marketing and operations in Canada, the United States, South America and the Philippines. In 2013 Mr. O'Rourke was inducted into the Canadian Mining Hall of Fame.
Rodney A. (Rod) Shier, CPA, CA, Chief Financial Officer and Director
Mr. Shier has over twenty years experience as a corporate officer and director to a number of publicly–traded mining companies, and has experience in raising over $1 billion in debt and equity financing transactions. In 2013 recipient of the Edgar A. Scholz Medal for Excellence In Mine Development in British Columbia.
Peter Holbek, BSc. (Hons), M.Sc., P.Geo., Vice President Exploration
Mr. Holbek holds a Masters of Science in Economic Geology (1988) and has 25 years experience in mineral exploration and mine development.
William (Bill) Mracek, P.Eng., Vice President Mining
Mr. Mracek has 40 years of practical and management experience in both underground and surface mines across Canada.
Richard J. Joyes, BSc. Geo., Senior Exploration Geologist
With a particular focus on 3D modeling, mineral inventory and deposit estimation and database administration, Mr. Joyes brings a wide variety of both field and computer based skills to the exploration team.
John Tapics, P.Eng., Director
Marin Katusa, BSc., Director
Al Cloke, Director
Carl L. Renzoni, BSc. (Hons), Director
Bruce Aunger, CA, Director
Robert J. (BOB) Young, BSc. Geo., Advisor
Roman Shlanka, PhD Geo., Advisor
Please refer to Copper Mountain Mining Corporation's website www.cumtn.com for complete biographies.
On November 19, 2017, Copper Mountain Mining Corp. and Altona Mining Ltd. jointly announced that they have agreed to combine the companies by way of a scheme of arrangement under the Australian Corporations Act 2001, pursuant to which Copper Mountain will acquire the entire issued capital of Altona.
Altona's key asset is the 100-per-cent-owned undeveloped open-pit Cloncurry copper project in Queensland, Australia.
On November 6, 2017, Copper Mountain Mining Corp. announced Q3 financial 2017 results Copper Mountain Mining Corp. had third quarter revenues of $77.1-million after pricing adjustments and treatment charges from the sale of 22.6 million pounds of copper equivalent, including 19.3 million pounds of copper, 6,500 ounces of gold and 72,700 ounces of silver. Total cash cost for the quarter ended Sept. 30, 2017, was $1.62 (U.S.) per pound of copper sold, net of precious metals credits.
On October 26, 2017, Copper Mountain Mining Corp. announced additional results from its drilling program at the New Ingerbelle deposit. The first four holes drill results highlights include 121.7 m grading 0.36 per cent copper and 0.16 gram per tonne gold in drill hole 17IG-02 and 137.2 m grading 0.35 per cent Cu and 0.24 g/t Au in drill hole 17IG-04.
On October 11, 2017, Copper Mountain Mining Corp. announced production results for the third quarter of 2017, from the Copper Mountain mine located in Southern British Columbia.
Third quarter 2017 production highlights:
Annual production on track: produced 20.9 million pounds of copper, 6,700 ounces of gold and 79,270 ounces of silver during the third quarter, bringing production totals to 56.2 million pounds of copper, 18,400 ounces of gold and 207,000 ounces of silver for the first three quarters of 2017, which meets guidance for the year.
On October 2, 2017, Copper Mountain Mining Corp. announced that it has completed its summer drilling program at the Copper Mountain mine site, and a 5,000-metre phase 1 diamond drill program was recently initiated on the New Ingerbelle deposit near Princeton, B.C.
Highlights from pit 2 east drilling include 105 metres at 0.62% Cu, including 75 m at 0.80% Cu and 9 metres at 3.68% Cu.
On August 8, 2017, Copper Mountain Mining Corp. announced the second quarter financial 2017 results. The Company had second quarter revenues of $67.1-million after pricing adjustments and treatment charges from the sale of 21.1 million pounds of copper equivalent, including 17.6 million pounds of copper, 6,300 ounces of gold and 62,700 ounces of silver. Total cash cost for the quarter ended June 30, 2017, was $1.74 (U.S.) per pound of copper sold, net of precious metals credits.
On July 13, 2017, Copper Mountain Mining Corp. announced production results for the second quarter of 2017 from the Copper Mountain mine located in Southern British Columbia.
Second quarter 2017 production highlights:
On May 11, 2017, Copper Mountain Mining Corp. has started a 10,000-metre exploration drilling program at the Copper Mountain mine. The 2017 program is targeting to further extend pit 2 to the west and to follow up on the pre-2012 drilling that intersected significant mineralization below pit 2.
On April 25, 2017, Copper Mountain Mining Corp. had first quarter revenues of $74.1-million after pricing adjustments and treatment charges from the sale of 19.0 million pounds of copper, 6,000 ounces of gold and 64,000 ounces of silver. Total cash cost for the quarter ended March 31, 2017, was $1.86 (U.S.) per pound of copper sold, net of precious metals credits.
Highlights (100-per-cent basis)
On April 6, 2017, Copper Mountain Mining Corporation announced that the Company will hold a conference call on Tuesday, April 25th, 2017 at 7:30 am (Pacific Standard Time) for management to discuss the Q1 2017 Financial and Operating Results. Results will be released before the market opens on Tuesday, April 25, 2017.
On February 21, 2017, Copper Mountain Mining Corporation announced 2016 year end revenues of $278 million, after pricing adjustments and treatment charges, from the sale of 82.7 million pounds of copper, 29,900 ounces of gold, and 283,900 ounces of silver. Total cash cost for the year was US$1.54 per pound of copper sold, net of precious metals credits.