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Highland Copper Announces Asset Development Strategy and Next Steps at White Pine North in Michigan, USA
LONGUEUIL, Quebec, March 07, 2023 (GLOBE NEWSWIRE) -- Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce
About this update from Highland Copper Co., Inc.
[{"type":"text","content":" LONGUEUIL, Quebec, March 07, 2023 (GLOBE NEWSWIRE) -- Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce its strategy to develop the Copperwood and White Pine North projects in Michigan, US. Key Highlights Highland will pursue a sequenced asset development strategy. As announced on March 6, 2023, Highland intends to prioritize speed to production and cash flow by developing the fully permitted Copperwood project first. The development of the White Pine North project, just 60 kilometers away, is expected to start soon after construction completion at Copperwood with the goal of incorporating key synergies in various cost areas. With all key state permits received, Copperwood is ready to begin early site works in 2023. Site preparation work will begin as per the various permit obligations. Advancing towards site readiness and starting detailed engineering work will also help support a construction decision. A portion of these expenditures will net against the initial capital estimate. At White Pine North, permitting and an updated PEA are advancing. Highland has engaged with the Michigan permitting authority on developing a timeline for the completion of the baseline studies to file for the missing permits at the White Pine North project. The Company also expects to issue an updated PEA by June 2023, after which, subject to the results, the Company expects to proceed with a Feasibility Study. As Copperwood reaches the production stage, it is the goal that the Feasibility Study will be completed, and the permits will be received to allow for a construction decision on White Pine North. Infill drilling continues at White Pine North. The objectives of the drilling program are the conversion of a portion of the inferred resources into the Measured and Indicated category while accumulating more material for the metallurgical tests needed to support future feasibility studies and further de-risk the project. “After thorough review, we have concluded that sequencing the development of Copperwood and White Pine North represents the best path to generate short-term value creation from our assets. This strategy will allow us to proceed quickly with the development of the fully permitted Copperwood project, while advancing permitting, drilling and engineering studies at White Pine Nort...