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Hudbay encouraged by initial resource estimate for Copper World

Hudbay CEO Peter Kukielski

Hudbay CEO Peter Kukielski

15th December 2021

By: Creamer Media Reporter

     

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Toronto- and New York-listed metals miner Hudbay Minerals on Wednesday announced an initial mineral resource estimate at its recently discovered Copper World deposit, which CEO Peter Kukielski said was “larger and at a higher level of geological confidence” than expected at this stage.

The project, which is located near the company’s Rosemont copper project in Arizona, has indicated mineral resources of 272-million tonnes at 0.36% copper and inferred mineral resources of 142-million tonnes at 0.36% copper.

The estimate includes near surface, higher-grade indicated resources of 96-million tonnes at 0.57% copper and inferred mineral resources of 31-million tonnes at 0.71% copper, which has the potential to be mined earlier as a low-cost operation predominantly on private land.

Hudbay will release a preliminary economic assessment for Copper World in the first half of 2022.

“We are very encouraged by the initial resource estimate for Copper World, where we have seven meaningful deposits with relatively low strip ratios, and the project has the potential to be an exciting operation for our Arizona business,” said incoming senior VP and COO Andre Lauzon.

“If Copper World is developed, it will support America’s efforts to reduce greenhouse gas emissions by producing the copper needed for renewable energy and electric vehicles, in a sustainable and socially responsible manner. In addition, it would generate many direct and indirect jobs in the region. There remains the potential for further copper discoveries in the area and we look forward to continuing the exploration and permitting process in 2022.”

The Copper World project consists of seven deposits extending over 7 km, including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb and North Limb.

Edited by Creamer Media Reporter

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