AQM Copper releases positive preliminary economic assessment for the Zafranal copper gold project
Wednesday, Dec 12, 2012
AQM Copper Inc. (TSX VENTURE:AQM)(BVL:AQM) ("AQM" or the "Company") is pleased to announce the completion of a positive, independent Preliminary Economic Assessment ("PEA") of the Company's Zafranal Project located in the Southern Peru Porphyry Copper Belt. Using long-term forecasted copper and gold prices of US$3.00/lb and US$1,274/oz respectively.
The PEA was completed by Tetra Tech WEI Inc., ("Tetra Tech"), and contains production parameters, capital costs, operating costs, pre-tax and post-tax financial projections for an open pit mine processing 80,000 t/d of mill feed and a leach operation based on the treatment of approximately 20,000 t/d of oxide and secondary sulphide material. The reader should be aware that the preliminary economic assessment is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The reader should also be aware that there is no certainty that the results forecast in the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.