Capstone Extends Cozamin Mine Life to 2031By Paloma Duran | Fri, 01/29/2021 - 14:17
Capstone Mining Corp. released its new Technical Report of its Cozamin Mine in Zacatecas, announcing it has extended the mine life to 2031, has increased mineral reserves by 39 percent and is expected to produce 512 million pounds of copper and 16Moz of silver over the next 10 years.
The report highlights that an estimated M&I Resources grew by 10 percent, in relation to April records “with 29.7 million tonnes grading 1.52 percent copper, 44 g/t silver, 1.10 percent zinc and 0.32 percent lead,” which was caused by the step-out drilling and infill drilling at MNFWZ. Moreover, the company announced that it has built a new section of ramp that seeks to open a new circuit to debottleneck the mine completed in December.
Capstone also conducted a prefeasibility study that indicated that a paste backfill system would allow the extraction of more 100 million pounds of copper and 3.1 Moz of silver between 2023 and 2031. The company said the paste backfill project was recently approved and that it has started acquiring materials and machinery for it.
Moreover, the company announced that it is carrying out a feasibility level design and studies to install a dry stack tailing storage facility, which is aligned with the company’s plan to incorporate new ESG practices. The company is also starting its “Impact23” Growth Project that seeks to extend the mine life, increase environmental and safety standards, improve operational processes and test new targets at its Cozamin mine.
Darren Pylot, Capstone’s President and CEO, commented in the press release that “After 14 years in operation, the best years of Cozamin are ahead. The mine is world-class with sustainable low costs and leading safety and environmental performance entrenched throughout the organization. The growth initiatives are supported by an entrepreneurial fabric at Capstone, as we embrace innovation and technology to create high impact value for our shareholders.”
In an interview with MBN, Pylot said the company seeks to continue working at Cozamin and discover more ore. Pylot said Zacatecas´ workers are incredible and that the company would love to have more mines in Mexico because it is a great place for mining operations.