Business
Kutcho Copper Outlines Project Opportunities and Potential Capital Reductions
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Kutcho Copper Corp. (TSXV: K...
About this update from Kutcho Copper Corp
[{"type":"text","content":"Kutcho Copper Outlines Project Opportunities and Potential Capital ReductionsVancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Kutcho Copper Corp. (TSXV: KC) (OTCQX: KCCFF) (\"Kutcho Copper\" or the \"Company\") is pleased to provide an update on various project opportunities with a focus on potential for reductions in capital costs at its Kutcho high-grade copper - zinc development project located in north-western British Columbia. Vince Sorace, President & CEO of Kutcho Copper, comments: \"Since completion of the Feasibility Study, we have been conducting further reviews and enhancements of project design and engineering, with a focus on potential for reductions in capital cost. One instance of such findings includes the ability to delay start of the underground operations, which could reduce initial capital costs by approximately C$50 million, according to in house Company estimates. In addition to the terms of the existing Wheaton Precious Metals stream (from which we are expecting approximately C$76 million towards development capital) combined with the delay in underground mining, initial capital costs could be reduced to approximately C$350 million before considering other opportunities to further reduce.\" \"In addition, Canada recently introduced its Critical Minerals Strategy, with the desire to increase the supply of responsibly sourced minerals such as copper and zinc. One element of this strategy recognizes that off-grid mining operations are heavily dependent on greenhouse gas emitting energy sources for power, such as diesel, largely due to the lack of access to energy grids in Canada's northern and remote regions. In its Critical Minerals Strategy, the federal government has budgeted $1.5 billion for infrastructure development, recognizing that in regions with high critical mineral potential, there is a need to address gaps in necessary infrastructure. Addressing these gaps could be achieved through a range of investments including expanding existing energy network capacity (e.g., hydroelectricity generation and transmission lines) and potential access road funding. Kutcho is engaged in discussions with federal and provincial government regarding potential extensions of existing transmission lines towards its project.\"The 2021 Feasibility Study on the Kutcho Project (see news release dated ...