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Capstone Mining Update on Cozamin Mine

Mining News - Published on Fri, 08 Nov 2019

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Capstone Mining Corp announced high grade copper and silver results from 103 infill and step-out drill holes at its Cozamin Mine, as well as an expansion to the exploration program into 2020. The results represent half of the 200 hole program, which aims to more than double the current reserve base. Results to date support the Company's recently disclosed increase to Cozamin's annual production guidance to 50 to 55 million pounds of copper and 1.4 to 1.5 million ounces of silver starting in early 2021. Mineral Resources and Mineral Reserves estimates will be updated in late 2020.

Mr Darren Pylot, Capstone’s President and CEO, said "Capstone has owned and operated Cozamin for 75 years and never have I been this excited about its future. The continued exploration success achieved by our team is a paradigm shift for an already low cost and highly profitable tier one mine. I don't know of another project that can leverage 50% organic production growth with expansionary capital of less than $5 million dollars. Cozamin has delivered cumulative free cash flow of over $400 million for Capstone and with our plan to more than double the current mine life, it is incredible to think that over the next decade the best is yet to come.”

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Posted By : Yogender Pancholi on Fri, 08 Nov 2019
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