Nevada Copper logo

NCU - Nevada Copper News Story

C$0.73 0.0  4.3%

Last Trade - 7:08pm

Basic Materials
Small Cap
Market Cap £184.1m
Enterprise Value £373.1m
Revenue £n/a
Position in Universe 518th / 2712

Nevada Copper Provides Update on Operational Advances

Tue 30th November, 2021 11:36pm
For best results when printing this announcement, please click on link below:

YERINGTON, Nev., Nov. 30, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX:
NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today
provided an update on its operations, including advances at the Company’s
underground mine at its Pumpkin Hollow Project (the “Underground Mine”)
and an update on its 2022 development plan.

Underground Mine Operations Highlights
* Lateral Development Rates Continue to Rise. The Company has advanced
approximately 760 lateral equivalent feet in the past 30 days, a 20% increase
in average daily footage from the previous 30 days. Lateral development
continues on multiple headings, providing access to ore mining zones in the
East South orebody and advancing development towards the East North
* Sugar Cube to be Blasted Shortly. The high-grade Sugar Cube zone is planned
to be drilled in December and mining is expected to commence in early Q1 2022.
This will be the first stope mined in the East North orebody, which is
expected to have higher quality ground conditions and significantly larger
stope sizes.
* Processing Plant Operating Well. The mill continues to run at design
specifications with the grinding, flotation, thickening, and concentrate
filtration circuits performing well mechanically. The Company anticipates
increased production and recovery rates with the addition of the Sugar Cube
zone to the processing plant’s ore feed in Q1 2022.

* Surface Ventilation Fans on Schedule. The surface ventilation fans are on
schedule to arrive on site in approximately 3 weeks with installation and
commissioning expected to be completed on time in line with the demands of the
mine plan.
2022 Development Plan Update
* Open Pit Drilling and Progressing. With additional funding received from the
Company’s recent public equity offering, the Company intends to undertake an
infill drilling campaign and to update its open pit studies to reflect
opportunities for increased scale, larger resource and other optimization
workstreams. Further updates on the Company’s 2022 development plan will be
released shortly.
“I am pleased with the operational advances we have achieved this month, as
we build on the progress from Q3,” stated Randy Buffington, President and
Chief Executive Officer. “Our development rates continue to increase on a
weekly basis and will soon provide access to the larger high-grade stopes,
which is expected to result in increased ore feed delivered to our fully
operational processing plant for a step further in our ramp-up progression.”

Qualified Persons
The technical information and data in this news release was reviewed by Greg
French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke,
P.Eng., a consultant to Nevada Copper, who are non-independent Qualified
Persons within the meaning of NI 43-101.

About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow
copper project. Located in Nevada, USA, Pumpkin Hollow has substantial
reserves and resources including copper, gold and silver. Its two fully
permitted projects include the high-grade Underground Mine and processing
facility, which is now in the production stage, and a large-scale open pit
project, which is advancing towards feasibility status.


Randy Buffington, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute
forward-looking information within the meaning of applicable Canadian
securities laws. All statements in this news release, other than statements of
historical facts are forward-looking statements. Such forward-looking
statements and forward-looking information specifically include, but are not
limited to, statements that relate to mine development, production and ramp-up
objectives, equipment installation, drilling programs and the completion of a
new feasibility study.

Forward-looking statements and information include statements regarding the
expectations and beliefs of management. Often, but not always, forward-looking
statements and forward-looking information can be identified by the use of
words such as “plans”, “expects”, “potential”, “is expected”,
“anticipated”, “is targeted”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or
“believes” or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking statements or information should not be read as
guarantees of future performance and results. They are subject to known and
unknown risks, uncertainties and other factors which may cause the actual
results and events to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements or information.

Such risks and uncertainties include, without limitation, those relating to:
the ability of the Company to complete the ramp-up of the Underground Mine
within the expected cost estimates and timeframe; requirements for additional
capital and no assurance can be given regarding the availability thereof; the
impact of the COVID-19 pandemic on the business and operations of the Company;
the state of financial markets; history of losses; dilution; adverse events
relating to milling operations, construction, development and ramp-up,
including the ability of the Company to address underground development and
process plant issues; ground conditions; cost overruns relating to
development, construction and ramp-up of the Underground Mine; loss of
material properties; interest rates increase; global economy; limited history
of production; future metals price fluctuations; speculative nature of
exploration activities; periodic interruptions to exploration, development and
mining activities; environmental hazards and liability; industrial accidents;
failure of processing and mining equipment to perform as expected; labor
disputes; supply problems; uncertainty of production and cost estimates; the
interpretation of drill results and the estimation of mineral resources and
reserves; changes in project parameters as plans continue to be refined;
possible variations in ore reserves, grade of mineralization or recovery rates
from management’s expectations and the difference may be material; legal and
regulatory proceedings and community actions; accidents; title matters;
regulatory approvals and restrictions; increased costs and physical risks
relating to climate change, including extreme weather events, and new or
revised regulations relating to climate change; permitting and licensing;
volatility of the market price of the Company’s securities; insurance;
competition; hedging activities; currency fluctuations; loss of key employees;
other risks of the mining industry as well as those risks discussed in the
Company’s Management’s Discussion and Analysis in respect of the year
ended December 31, 2020 and in the section entitled “Risk Factors” in the
Company’s Annual Information Form dated March 18, 2021. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in
forward-looking statements or information. The forward-looking information or
statements are stated as of the date hereof. Nevada Copper disclaims any
intent or obligation to update forward-looking statements or information
except as required by law. Readers are referred to the additional information
regarding Nevada Copper’s business contained in Nevada Copper’s reports
filed with the securities regulatory authorities in Canada. Although the
Company has attempted to identify important factors that could cause actual
actions, events, or results to differ materially from those described in
forward-looking statements, there may be other factors that could cause
actions, events or results not to be as anticipated, estimated or intended.
For more information on Nevada Copper and the risks and challenges of its
business, investors should review Nevada Copper’s filings that are available

Nevada Copper provides no assurance that forward-looking statements and
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance on
forward-looking statements or information.


GlobeNewswire, Inc. 2021
© Stockopedia 2022, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.