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Lundin Mining announce the 2017 mineral resources estimates

Published by
Global Mining Review,

Lundin Mining Corporation has reported that its Mineral Resource and Mineral Reserve estimates as of 30 June, 2017.

On a consolidated and attributable basis, contained metal in the Proven and Probable Mineral Reserve categories totaled 3 232kt of copper, 3 415kt of zinc and 130kt of nickel.

Commenting on the update, Mr. Paul Conibear, President and CEO of Lundin Mining said: "We are pleased that our exploration efforts continue to add great value to our assets. Exploration success at Candelaria has resulted in further significant increases in underground Mineral Resources and Mineral Reserves that will allow us to continue to advance mine plan optimization and mine life extension in Chile. Study work and approval of the Zinc Expansion Project at Neves-Corvo and the Eagle East development at Eagle during the last year have contributed to increased Mineral Reserves at both mines. In the light of improved market conditions, we plan to accelerate exploration at all our mine sites in 2018 as well as advance at least two new copper-focused greenfield exploration projects".

Total Candelaria Measured and Indicated Mineral Resources have increased by approximately 7.5% to 740.9 Mt at 0.70% Cu, from 689.0 Mt at 0.64% Cu reported as of June 30, 2016, reflecting the continued success of the exploration campaigns. Total Candelaria Proven and Probable Mineral Reserves have increased by approximately 3% to 497.5 Mt at 0.56% Cu, despite mining depletion. The open pit Proven and Probable Mineral Reserves, excluding stockpiles, have decreased to 315.9 Mt at 0.53% Cu, from 337.6 Mt at 0.54% Cu reported as of June 30, 2016, reflecting 12 months of depletion by mining. Total Candelaria Underground Proven and Probable Mineral Reserves now stand at 89.3 Mt at 0.88% Cu. This is a significant increase of 38.1 Mt over last year reflecting continued exploration success, particularly in the Candelaria Norte underground mine. An initial Eagle East Probable Mineral Reserve was reported on April 10, 2017 containing 1.5 Mt at 3.7% Ni and 3.0% Cu. The total combined Eagle and Eagle East Proven and Probable Mineral Reserves now stand at 4.7 Mt at 2.7% Ni and 2.3% Cu.

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