VANCOUVER, July 13, 2017 /CNW/ - Copper Mountain Mining Corporation (TSX: CMMC) (the "Company" or "Copper Mountain") announces production results for the second quarter of 2017, from the Copper Mountain Mine, located in southern British Columbia.
Second Quarter 2017 Production Highlights:
- Annual production on track: Produced 17.2 million pounds of copper, 5,856 ounces of gold, and 63,179 ounces of silver during the second quarter, bringing the first half year production totals to 35.3 million pounds of copper, 11,718 ounces of gold, and 127,440 ounces of silver.
- Mill throughput: Milled 3.2 million tonnes of ore at an average rate of 35,674 tpd, with 82.4% operating time. Copper recovery for the period was 77.6% treating an average grade of 0.31% copper.
- Mine production strong: Mined approximately 200,000 tonnes of material per day during the second quarter.
The mill successfully completed the planned replacement of the SAG mill bull gear in April, ahead of schedule. Downtime for this job was factored into our annual production guidance of 75M-85M lbs of copper. Mill tonnage following the shutdown averaged 43,482 tpd, and 41,057 tpd for the months of May and June respectively.
Mining activities continued from the Pit 2, Saddle and Oriole Pit areas. A total of 18.2 million tonnes of material was mined, including 6.3 million tonnes of ore and 11.9 million tonnes of waste, resulting in a strip ratio of 1.89 to 1. High equipment mechanical availability was maintained during the quarter which helps contribute to the above average mining rates achieved during the quarter.
Mr. Jim O'Rourke, President and Chief Executive Officer of Copper Mountain Mining, said "The team at site did an excellent job in minimizing downtime during this maintenance job and we look forward to a stronger second half of 2017 as originally forecasted."
About 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.
A conference call and audio webcast will be held on Tuesday August 8, 2017 at 7:30 am (Pacific Daylight Time)
Live Dial-in information
Toronto and international: 647-427-7450
North America (toll-free): 888-231-8191
To participate in the webcast live via your computer go to:
Replay call information
Toronto and international: 416-849-0833, passcode 54136683
North America (toll-free): 1-855-859-2056, passcode 54136683
The conference call replay will be available from 10:30 am (PDT) on August 8th, 2017, until 20:59 pm PST on
Participant audio webcast will also be available on the Company's website at http://www.cumtn.com
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng.
Chief Executive 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: Dan Gibbons, Investor Relations 604-682-2992 ext. 238 Email: Dan@cumtn.com; Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email: Rod@CuMtn.com; Website: www.CuMtn.com