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Copper Giant Resources Corp. Begins Planned Comprehensive Preliminary Economic Assessment for the Mocoa Copper-Molybdenum System
Copper Giant Resources Corp. announced the start of the work to file a Preliminary Economic Assessment in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects for the Mocoa copper-molybdenum porphyry project in Putumayo, Colombia. It is anticipated that the Preliminary Economic Assessment will evaluate multiple development scenarios -- including a base case and alternatives that consider different scales, capital requirements, and mining approaches, for a system hosting an Inferred resource of 12.7 billion pounds copper-equivalent at an average grade of 0.51% copper-equivalent, including 7.7 billion pounds of copper at 0.31% copper and 1.0 billion pounds of molybdenum at 0.039% molybdenum, within 1,120 million tonnes. SLR Consulting has been appointed as Lead Consultant, supported by INTERA Incorporated for hydrogeology and environmental studies, and Frank Wright Consulting with SGS Canada for metallurgical testing, which is already underway. APEX Geoscience continues to lead the updated Mineral Resource Estimate that will underpin the study. Metallurgical testing under Frank Wright and SGS Canada has returned initial recoveries of up to 92% copper and 97% molybdenum, exceeding the assumptions in the current resource model. APEX is leading the updated Mineral Resource Estimate, and three drill rigs continue to operate as part of the fully funded 2026 exploration program. The Preliminary Economic Assessment scope includes defining the technical work program required to eventually advance toward Pre-Feasibility Study. Beyond delivering a National Instrument 43-101 compliant economic assessment, the Preliminary Economic Assessment will identify data gaps, prioritize additional drilling and studies, and establish the roadmap from Preliminary Economic Assessment through to Pre-Feasibility Study, building a clear, sequenced path to development. The Preliminary Economic Assessment is designed to evaluate the Project's potential development pathways and provide a conceptual economic assessment to support anticipated advancement toward Pre-Feasibility Study level work. The Preliminary Economic Assessment will assess alternative mining and development scenarios, including scale, sequencing, and infrastructure configurations, to identify a preferred conceptual approach supported by preliminary mine planning, process design, and capital and operating cost estimates. The results are expected to clarify key project drivers and inform decision-making for subsequent study stages. Beyond the economic assessment, the Preliminary Economic Assessment is intended to establish a clear and actionable technical roadmap toward Pre-Feasibility Study, including identification of critical data gaps, prioritization of drilling targets, and definition of additional metallurgical, geotechnical, hydrogeological, and environmental work required to advance the Project. The Company expects the Preliminary Economic Assessment to serve as the foundation for coordinated technical programs through 2026–2027. The study will be executed through a phased approach designed to deliver defined technical outputs, culminating in a National Instrument 43-101 compliant technical report supported by qualified persons. The Preliminary Economic Assessment is being delivered by an integrated team comprising SLR as Lead Consultant, INTERA for hydrogeological and environmental inputs, APEX Geoscience for mineral resource estimation, and Frank Wright Consulting and SGS Canada for metallurgical testing. In parallel with the Preliminary Economic Assessment, the Company is advancing key technical workstreams, including ongoing resource expansion and conversion drilling, metallurgical variability testing led by Frank Wright Consulting and SGS Canada, and geotechnical and hydrogeological programs. APEX Geoscience continues to support mineral resource work, including inputs to an updated Mineral Resource Estimate, which is expected to inform the study where appropriate. The advancement of the Preliminary Economic Assessment follows the Company's recent title integration milestone, which established a consolidated, long-term development framework for the Mocoa Project. The Preliminary Economic Assessment represents the next step in evaluating development alternatives within this expanded and unified project footprint. It is anticipated that the Preliminary Economic Assessment will follow a structured, phased approach: Phase 1 – Data Review and Gap Analysis (Second Quarter 2026): Establishment of validated datasets, key study assumptions, and a prioritized work program to address critical technical gaps and support advancement toward Pre-Feasibility Study. Phase 2 – Trade-Off Studies and Initial Design (Second Quarter–Third Quarter 2026): Delivery of comparative development scenarios and identification of a preferred conceptual pathway based on scale, sequencing, capital intensity, and overall project configuration. Phase 3 – Integrated Engineering and Economic Modeling (Third Quarter 2026): Definition of preliminary mine plans, process design criteria, infrastructure layouts, and associated capital and operating cost estimates, supported by an integrated economic model. Phase 4 – Reporting and Delivery (Fourth Quarter 2026): Completion of the National Instrument 43-101 compliant Preliminary Economic Assessment technical report, including supporting documentation, sensitivity analyses, and recommendations for advancement to Pre-Feasibility Study. The Company is targeting completion of the Preliminary Economic Assessment in the second half of 2026, with flexibility to incorporate results from the ongoing 2026 drilling program and parallel metallurgical and environmental workstreams. Mocoa's Mineral Resource Estimate comprises Inferred resource of 12.7 billion pounds copper-equivalent at an average grade of 0.51% copper-equivalent, including 7.7 billion pounds of copper at 0.31% copper and 1.0 billion pounds of molybdenum at 0.039% molybdenum, within 1,120 million tonnes. Copper equivalent for drill hole interceptions is calculated as: copper-equivalent (%) = copper (%) + 5.278 × molybdenum (%), utilizing metal prices of copper - USD 4.00/lb and molybdenum - USD 20.00/lb and metal recoveries of 90% copper and 95% molybdenum. Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that all or any part of the Inferred Mineral Resources will be upgraded to an Indicated or Measured category.