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Johnson Camp
• SX - EW
• Decorative Stone
 

The Johnson Camp Mine

The Johnson Camp property is located 65 miles east of Tucson, Arizona and is 100% owned by the Company. The property includes the Johnson Camp mine which is an existing open pit copper mine and production facility that uses the solvent extraction, electrowinning (“SX-EW) process. The Johnson Camp Mine includes two existing open pits, the Burro and Copper Chief bulk mining pits. 

Based on current reserves the Johnson Camp is expected to produce 25 million pounds of copper cathodes annually over a mine life of 13 years. Additionally, the Company commenced further exploratory drilling on the Johnson Camp property in mid-July 2007 and has completed the first phase of preliminary exploratory drilling around the periphery of the existing boundaries of the Burro and Copper Chief pits, but is awaiting assay results on the samples obtained from the drilling program.

A summary of the Johnson Camp proven and probable reserves as of December 31, 2010 are presented in the table below.  Further details about the reserves on the Johnson Camp property can be found in the Technical Report.

Johnson Camp Mine

Summary of Proven and Probable Reserves

 

 

 

 

 

Copper

Copper

 

Tons Of Ore

Ore Grade

Ore Grade

Contained

Recoverable

Crush Leach

(mm)1

TCu(%Cu)

ASCu(%CU)

(mm lb)

(mm lb)

Proven

43.7

0.31

0.17

274

152

Probable

10.6

0.28

0.15

60

33

Total

54.3

0.31

0.17

334

184

 

 

 

 

 

 

ROM Leach

 

 

 

 

 

Proven

48.1

0.29

0.11

278

108

Probable

8.8

0.25

0.11

44

19

Total

56.9

0.28

0.11

322

127

 

 

 

 

 

 

Total Ore

 

 

 

 

 

Proven

91.9

0.30

0.15

552

260

Probable

19.4

0.27

0.14

103

51

Total

111.3

0.29

0.15

656

311


Notes:
  • The ore reserves were estimated in accordance with Industry Guide 7 of the Securities and Exchange Commission (sometimes referred to in this annual report as the “SEC”) and CIM Guidelines.
  • The actual tonnage and grade of reserves are generally expected to be within 90–95% of the estimate for proven reserves, and 70–80% for probable reserves.
  • Reserves are based on a copper price of $2.50/lb and on total copper assays.
  • Reserve estimates were based on operating costs estimated as of the second quarter of 2010.
  • The internal cutoff grade used in the reserve analysis was 0.04 – 0.08 percent acid soluble copper (depending on rock type).  All inferred resource blocks were treated as waste, regardless of their estimated copper grade

Other Mineralized Material

In addition to the above mentioned reserves, mineralized material is contained in the Burro and Copper Chief deposits at the Johnson Camp property and was estimated using the guidelines established in, and is compliant with, Canadian NI 43-101 standards. In addition, there are numerous other prospects of mineralized material that remain to be explored and tested.

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