Canadian Copper earned a 28% interest in the Murray Brook copper-zinc deposit in New Brunswick’s Bathurst camp from Metalquest Mining (TSXV: MQM). Canadian Copper further arranged last summer to buy out 72% owner Votorantim Metals Canada, and when the title is transferred, Canadian Copper will be the 100% owner.
As part of the offtake agreement, Ocean Partners will purchase a minimum of one-third of the Murray Brook copper concentrate at market rates and has been granted right of first refusal for the remainder of the production.
The Murray Brook project has measured and indicated sulphide resources of 21.1 million tonnes grading 0.45% copper (211.7 million lb.) and 2.49% zinc (1.2 million lb.) plus lead, gold and silver. Taken together, the copper-equivalent grade in the M+I resource is 1.41% or stated in zinc-equivalent terms, it is 8.63%. There is also an inferred resource of 110,000 tonnes grading 0.41% copper and 1.82%…
