Nevada Copper Restarts Production
August 24 2020 - 8:30AM
Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’)
is pleased to announce that it has restarted its milling operations
at its underground project at Pumpkin Hollow (the “Underground
Project”).
On August 20, 2020, the Company restarted its
processing plant following temporary suspension of copper
production due to impacts of the COVID-19 pandemic. The plant
restart and ramp up benefits from the processing plant’s initial
consistent performance in the First Quarter.
There are approximately 160,000 tons of
stockpiled material at surface available for immediate processing.
The stockpiled ore will be supplemented with additional development
ore and subsequent stope ore hoisted via the East North Ventilation
Shaft (ENVS). Material will continue to be hoisted from the ENVS
until work on the Main Shaft has been completed. The Company
remains on track for the commencement of Main shaft hoisting
scheduled for Q4, 2020.
“We are encouraged by the processing plant
restart at our Pumpkin Hollow mine,” stated Evan Spencer, Chief
Executive Officer of Nevada Copper. “Our full workforce has been
mobilized and we have transitioned our operations back into
production smoothly, picking up where we left off in Q1. We
look forward to executing our ramp-up plans and will report on
progress in the coming months.”
Nevada Copper’s priority during the COVID-19
pandemic is to safeguard the health and safety of the Company’s
workforce, including by following government mandated
directives. The Company has implemented additional health and
safety measures to address COVID-19 risks during the restart of the
processing plant. Other such measures have been implemented
in connection with the ongoing mine development.
Qualified Persons The
information and data in this news release was reviewed by Greg
French, C.P.G., and David Sabourin, P.E, for Nevada Copper, who are
non-independent Qualified Persons within the meaning of NI
43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer
and owner of the Pumpkin Hollow copper project. Located in Nevada,
USA, Pumpkin Hollow has substantial reserves and resources
including copper, gold and silver. Its two fully permitted projects
include the high-grade underground mine and processing facility,
which is now in the production stage, and a large-scale open pit
project, which is advancing towards feasibility status.
NEVADA COPPER CORP.www.nevadacopper.com
Evan Spencer, President and CEO
For further information contact:Rich Matthews,
Investor RelationsIntegrous Communicationsrmatthews@integcom.us+1
604 355 7179
Cautionary Language
This news release includes certain statements
and information that constitute forward-looking information within
the meaning of applicable Canadian securities laws. All statements
in this news release, other than statements of historical facts are
forward-looking statements. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements that relate to plans for milling operations
and mine development plans..
Often, but not always, forward-looking
statements and forward-looking information can be identified by the
use of words such as “plans”, “expects”, “potential”, “is
expected”, “anticipated”, “is targeted”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes”
or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or information are subject to known or
unknown risks, uncertainties and other factors which may cause the
actual results to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information.
Forward-looking statements or information are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the
forward-looking statements or information, including, without
limitation, risks and uncertainties relating to: the state of
financial markets; regulatory approvals; the impact of COVID-19 on
the business and operations of the Company; history of losses;
requirements for additional capital; dilution; adverse events
relating to construction, development and ramp-up, including the
ability of the Company to address underground development and
process plant issues; ground conditions; cost overruns relating to
development, completion and ramp-up of the Pumpkin Hollow
Underground Mine; loss of material properties; interest rates
increase; global economy; no history of production; future metals
price fluctuations; speculative nature of exploration activities;
periodic interruptions to exploration, development and mining
activities; environmental hazards and liability; industrial
accidents; failure of processing and mining equipment to perform as
expected; labor disputes; supply problems; uncertainty of
production and cost estimates; the interpretation of drill results
and the estimation of mineral resources and reserves; changes in
project parameters as plans continue to be refined; possible
variations in ore reserves, grade of mineralization or recovery
rates may differ from what is indicated and the difference may be
material; legal and regulatory proceedings and community actions;
the outcome of disputes with the Company’s contractors; accidents;
title matters; regulatory restrictions; increased costs and
physical risks relating to climate change, including extreme
weather events, and new or revised regulations relating to climate
change; permitting and licensing; volatility of the market price of
the Company’s common shares; insurance; competition; hedging
activities; currency fluctuations; loss of key employees; other
risks of the mining industry as well as those risks discussed in
the Company’s Management’s Discussion and Analysis in respect of
the year ended December 31, 2019 and in the section entitled “Risk
Factors” in the Company’s Annual Information Form dated May 15,
2020. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements or information. The forward-information
and statements are stated as of the date hereof. The Company
disclaims any intent or obligation to update forward-looking
statements or information except as required by law.
The Company provides no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
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