Curis Resources (CUV.TO) has announced the results of a new lab test, performed on some metallurgical samples for the company’s fully owned Florence Copper Project.
The company completed 16 ISR tests that indicated an average copper extraction rate of 61%, with one sample reaching a recovery rate as high as 89%, which is truly remarkable. The average recovery rate in the PEA was 49%, so this is an excellent good improvement over the PEA-numbers.
Dan Johnson, VP of Technical Operations comments that ‘these results confirm there’s additional potential to improve the overall copper recoveries versus the historical estimates and the numbers in the PEA’.
In their company presentation, Curis says each additional percent increase in copper recovery leads to an increase in the NPV of approximately $24M. This number is obviously based on the entire Florence copper project, so the influence on the NPV on the state lands will obviously be less.
Read the full press release here
Disclosure: The author holds a long position in Curis Resources Ltd. Please see our disclaimer for current positions.
