The project carries a pre-production capital requirement of C$81 million and would pay for itself within 12 months of commercial production. Permitting might be accomplished in 24 months, and construction would take 16 months. There would be a 9.5-year life of mine with opportunity for expansion.
As planned, the Tower and Rail project would produce an average of 12,000 t/y copper-equivalent at an all-in sustaining cost of $2.46/lb. copper.
Mineral resources were upgraded for the PEA. The Tower deposit contains 1.7 million indicated tonnes grading 3.28% copper, 1.04% zinc, 0.7 g/t gold, and 16.5 g/t silver. It also has an inferred resource of 499,000 tonnes at 1.74% copper, 1.16% zinc, 0.2 g/t gold, and 8.4 g/t silver.
The Rail deposit contains 2.1 million indicated tonnes grading 1.87% copper, 0.59% zinc, 0.6 g/t gold, and 6.1 g/t silver. There is also an inferred resource of 1.1 million tonnes at 2.14% copper, 0.83% zinc, 0.9…
