VANCOUVER, Aug. 26 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces that construction work on the Company's Copper Mountain Project continues to go smoothly and is proceeding on schedule and as planned. Erection of the concentrator building is now complete with the final pieces of the exterior cladding being installed (Photo at right). Interior work on the concentrator building is also proceeding nicely, with the completion of rebar installation for Ball Mill No. 1 and No. 2 foundations, concrete has been poured for the concentrate stock and filtrate tanks, and work has started on the assay lab. (See photo Below)
Work on the course ore stockpile reclaim tunnel is near completion.
Construction work on the five bay truck shop building which is attached to the existing admin / warehouse building has gone exceedingly fast as the contract was awarded only eight weeks ago. As shown in the photo below, the truck shop is now fully erected with exterior cladding and overhead cranes ahead of schedule.
Grinding mills and major mill equipment is currently being received at the mine site and will be installed and tested inside the completed buildings during the winter.
The Company's mobile mining fleet is currently being utilized by assisting with construction activities surrounding the installation of an overland conveyor system that will move crushed ore from the newly constructed primary crusher to the course ore stockpile located behind the concentrator building.
Preproduction mining activities are scheduled to start once the Company's main loading unit, a Komatsu PC8000 (53 yard capacity), has arrived on site. This large hydraulic shovel is on route from Germany and is expected to be on site by mid September and fully assembled and operational by mid October 2010. The second half of the mining fleet, including a second PC8000, is scheduled to be on site by April 2011. Preproduction mining will start in the Pit 3 area with a push-back on the western wall. A total of 24 million tonnes of material is scheduled to be moved prior to the mill startup in May of next year, while on average a total of 55 million tonnes of material will be moved in a full production year.
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About Copper Mountain Mining Corporation:
Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Project. The 18,000 acre mine site is located 15 km south of the town of Princeton in southern British Columbia. The Copper Mountain Project has a current resource of approximately 5 billion pounds of copper and it is Copper Mountain's goal to develop the Copper Mountain Project as a mid tier copper and precious metal mine to produce approximately 100 million pounds of copper per year by mid 2011. Additional information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Rod Shier, CA
Chief Financial Officer
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation
For further information: For further information: Galina Meleger, Corporate Communications, 604-682-2992 ext.224, Email: Galina.meleger@CuMtn.com; or Don Graham, Investor Relations, 604-682-2992 ext.224, Email: Don@cumtn.com, Website: www.CuMtn.com