Copper Mountain Mining Corp. has provided the production results of its Copper Mountain mine, located in southern British Columbia, for 2017 and the fourth quarter of 2017.
Total production for 2017 was 88.3 million lbs of copper equivalent, including 75.8 million lbs of copper, 23 600 oz of gold, and 277 000 oz of silver, within 2017 guidance numbers. The mill averaged 90.3% operating time for the year which takes into account the SAG gear change-out in April. The mill processed a total of 14.1 million t of ore at an average rate of 38 592 tpd and a grade of 0.317% copper.
Production during 4Q17 totalled 22.3 million lbs of copper equivalent, including 19.5 million lbs of copper, 5200 oz of gold, and 70 400 oz of silver. Mill throughput averaged 40 130 tpd for the final three months of 2017, ahead of our guidance of 38 000 tpd. During the quarter, mining continued in the Pit 2, saddle zone and Oriole areas and averaged approximately 205 000 tpd moved. A total of 19 million t of material was mined, including 7.4 million t of ore and 11.6 million t of waste.
Jim O'Rourke, President and CEO of Copper Mountain, remarked: "2017 has been a successful year for the company. The mine team was able to increase mill throughput and in December the rate averaged 43 058 tpd with copper production totaling 7.5 million lbs. The favourable mine performance coupled with the rise in the copper price has allowed the company to increase cash on the balance sheet. In addition, exploration drilling in New Ingerbelle has been encouraging with final assays available shortly. A follow up exploration programme is planned for later in the year.”