5 billion pounds
Canada's Newest Mid Tier Copper Producer
Message: Copper Mountain Announces Production Results for Q3-2016
Copper Mountain Announces Production Results For Q3-2016 Vancouver, British Columbia – October 6, 2016 – Copper Mountain Mining Corporation (TSX: CUM) (the “Company” or “Copper Mountain”) announces production results for the third quarter of 2016, from the Copper Mountain Mine located in southern British Columbia. Third Quarter 2016 Production Highlights: Annual production on track: Produced 22 million pounds of copper, 8,170 ounces of gold, and 81,540 ounces of silver during the third quarter, bringing production totals to 62 million pounds of copper, 23,800 ounces of gold, and 220,850 ounces of silver for the first three quarters of 2016, which is slightly ahead of guidance for the year. Gold production contribution significant: Gold and silver production continues to provide a favourable contribution to the operation and accounts for over 20% of the mine revenue. Mill throughput: The average milling rate of 39,980 tpd for the quarter set a new record. Total tonnes milled during the period was 3.7 million with an operating time of 92.2%. Copper recovery for the period was 82.9% treating an average grade of 0.327% copper." Mining production strong: Open pit mining averaged 173,100 tonnes of material per day during the third quarter, bringing the year to date average 7% ahead of plan at 187,200 tonnes of material per day mined. Mining activities continued from the Pit 2, Saddle and Virginia Pit areas during the quarter. A total of 15.9 million tonnes of material was mined, including 5.9 million tonnes of ore and 10 million tonnes of waste, resulting in a strip ratio of 1.68 to 1. High equipment mechanical availability was maintained during the quarter which helps contribute to the above average mining rates being achieved. Mr. Jim O’Rourke, President and Chief Executive Officer of Copper Mountain Mining, said “New production records being achieved at the mine greatly strengthen our operating base. Mill throughput for the month of September averaged 42,900 tpd while the throughput for the quarter averaged 39,980 tpd, which is above our guidance of 37,500 tpd. Gold production continues to provide a strong by-product credit, and this combined with the mine’s aggressive cost saving initiatives has greatly strengthened the mine’s ability to weather the current weak copper market.”.
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