Business
Excelsior Mining Commences Mining Operations at the Gunnison Copper Project
Phoenix, Arizona--(Newsfile Corp. - January 2, 2020) - Excelsior Mining Corp. (TSX: MIN) (FS...
About this update from Gunnison Copper Corp.
[{"type":"text","content":"Excelsior Mining Commences Mining Operations at the Gunnison Copper ProjectPhoenix, Arizona--(Newsfile Corp. - January 2, 2020) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) (\"Excelsior\" or the \"Company\") confirms the successful commencement of mining operations at the Gunnison Copper Project in southern Arizona. Following a comprehensive commissioning program that has been ongoing for several weeks, regulatory approval to commence mining operations through the injection of acid was recently received from the Environmental Protection Agency (See Excelsior news release dated December 23, 2019). Delivery of mining fluids to the copper orebody has commenced; fluids will now circulate through a closed-loop system until the concentration of copper held in solution meets sufficient grade to be treated through the Johnson Camp processing facilities to then extract copper and produce copper cathode sheets. First copper cathode sales are expected in Q1, 2020. Stephen Twyerould, the President & CEO, said, \"Following on the heels of the successful completion of the construction phase, mining operations at the Gunnison Copper Project are now underway. We remain absolutely confident in our capacity to deliver low-cost copper production while maintaining our commitment to safety and the environment.\"Mark J. Morabito, Excelsior's Chairman said, \"On behalf of the Board, I would like to congratulate the entire Excelsior team for achieving the commencement of production. Your hard work and your dedication have made possible this significant milestone, and we look forward to continuing the ramp up of existing operations in 2020 and laying the groundwork for future expansion to Gunnison's full production capacity of 125 million pounds of production per annum. About Excelsior MiningExcelsior \"The Copper Solution Company\" is a mineral exploration and production company that owns the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate. Excelsior's technical work on the Gunnison Copper Project is supervis...