Hudbay Minerals (TSX: HBM) this morning reported the results of its maiden mineral resource estimate at its Copper World project in Arizona. The project is in close proximity to the firms Rosemont project, which is currently awaiting final approvals before mine construction commences.
At Copper World, the firm has determined that the property is estimated to contain indicated mineral resources of 272 million tonnes at 0.36% copper, with a further 142 million tonnes inferred at 0.36% copper. Those figures are said to include a higher grade portion near surface as well, which contains indicated resources of 96 million tonnes at 0.57% copper.
Collectively, the resource estimate is the result of data collected on seven deposits located across the project, which extend over a total area seven kilometres long. The estimate is based on an open-pit model, and a total of 310 drill holes that were drilled over the last two years on private land owned by the company.
Going into 2022, the firm has indicated it intends to continue drilling out the property, focusing on converting inferred resources to indicated, while converting indicated resources to measured. The company will also look to test possible connections to its Rosement deposits, while advancing a pre-feasibility study for the project.
Hudbay Minerals last traded at $8.69 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
