Source: Nevada Copper Corp.
  • Nevada Copper (TSX:NCU) provided an update on its work to restart operations at its Pumpkin Hollow underground mine in Nevada
  • The company noted that underground development completed in Q2 2023 increased 65 per cent to 434 metres as compared with 151 metres in Q1 2023
  • The mill and process plant advanced as planned in Q2 2023 and the mill is on track to restart in September 2023 at an expected rate of approximately 3,500 tons per day
  • Nevada Copper Corp. opened trading at $0.18 per share

Nevada Copper (TSX:NCU) provided an update on its work to restart operations at its Pumpkin Hollow underground mine.

Located in Nevada, Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver.

The company noted that underground development completed in Q2 2023 increased 65 per cent to 434 metres as compared with 151 metres in Q1 2023. The mill and process plant advanced as planned in Q2 2023 and the mill is on track to restart in September 2023 at an expected rate of approximately 3,500 tons per day. The surface stockpile has also increased to 73,000 tons of crushed ore, in preparation for sustained process operations.

Nevada Copper’s development mining contractor, Small Mine Development Inc. logged a 25 per cent increase in average daily development footage in July compared with June development.

Mining of the first stope began earlier this month and is expected to be completed before the end of August to provide an open stope for paste backfill placement to allow for commissioning of the paste plant.

Randy Buffington, president and CEO of Nevada Copper, said in a news release that the team, alongside contracting partners, has made significant strides in advancing the underground mining and development activities at Pumpkin Hollow to enable the restart of milling activities in Q3.

“The process plant preparation and restart activities are moving forward well with September representing a significant milestone for Nevada Copper. The restart of processing operations will mark the end of restart activities and the beginning of an exciting new chapter for Nevada Copper as we realize the potential of this significant North American copper asset,” Buffington said in a statement.

Nevada Copper Corp. is a copper producer and owner of the Pumpkin Hollow copper project.

Nevada Copper Corp. opened trading at $0.18 per share.

Join the discussion: Find out what everybody’s saying about this stock on the Nevada Copper Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.


More From The Market Online
The White House.

@ the Bell: TSX recovers; markets assess Biden’s exit

The TSX bumped up in Monday trading after U.S. President Joe Biden’s weekend exit from the 2024 election race.
CrowdStrike headquarters in Silicon Valley, California.

CrowdStrike’s outage shows its scale: Why to buy the dip

CrowdStrike (NASDAQ:CRWD) offers a strong investment case, despite its 23.1 per cent dip after a faulty software update on Friday.