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Copper Mountain earmarks C$5M for exploration at Australian copper project

Canadian miner Copper Mountain Mining Corp. announced an exploration budget of C$5 million for the Cloncurry project in Queensland, Australia.

Copper Mountain said May 24 that it plans to conduct follow-up drilling on discoveries made in 2017 and test new targets and supporting works for the full feasibility study on the proposed Eva Copper Mine.

The Canadian miner acquired Perth, Australia-based Altona Mining Ltd. in April and in doing so snapped up the Cloncurry project, which has measured and indicated resources containing over 2 billion pounds of copper and inferred resources containing 1.6 billion pounds of copper.

As part of the acquisition, Copper Mountain also obtained the permitted Eva Copper project and a substantial exploration tenement portfolio of 397,000 hectares in the Mount Isa area in Queensland.