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Excelsior Mining integrates recently bought copper mine

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Excelsior Mining integrates recently bought copper mine

ExcelsiorMining Corp. has fully integrated the mine into thecompany. It will provide the initial copper production facilities for theGunnison copperproject, set to start in 2018.

The company had acquiredthe Johnson Camp mine in December2015 through a court-appointed receiver for Nord Resources Corp.

Copper production facilities at JCM include a 4,500-gallon-per-minutesolvent extraction plant, tank farm, solution storage ponds and anelectrowinning plant with capacity of 25 million pounds of copper cathode peryear. Excelsior intends to flow the initial production solutions from theGunnison copper project through these facilities.

The Johnson Camp mine was put on care and maintenance beforethe acquisition. Since the acquisition, Excelsior has continued to run fluidsthrough the system to ensure that the production facility remains in goodworking order in anticipation of the commencement of in-situ recoveryoperations, scheduled for early 2018.

Current capacity at the Johnson Camp mine is 25 millionpounds of copper cathode per year; however, management believes that theability to expand the plant to 40 million pounds per year is achievable, andcould be accomplished for very limited capital.

The feasibility study for the Gunnison copper project,scheduled for completion before the end of 2016, will investigate opportunitiesfor plant expansion at the Johnson Camp mine. Initial production at Johnson Campis poised to be augmented through the construction of new production facilitiesat the neighboring Gunnison tenements, eventually forecasted to result in totalcopper production of 125 million pounds per year by year seven.