Metallurgical Testing Delivers a 3.2% Increase in Predicted Copper Recovery at Los Azules
TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., 47.7% owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce results from the recently completed Phase 1 copper heap leaching metallurgical tests undertaken at SGS Chile Limitada in Santiago, Chile. The test results were produced utilizing conventional bio-heap leaching technology and generated an average copper recovery of 76.0%. This represents an increase of 3.2% over the recovery rate used in the June 2023 Preliminary Economic Assessment (PEA) for Los Azules. These test results were reviewed by Jim Sorensen and Michael McGlynn at Samuel Engineering Inc., who are responsible for the development and oversight of the metallurgical programs.

Phase 1 Results

Based on the Phase 1 test results available at the time and prior historical column test work, the PEA used an average copper recovery of 72.8% by employing conventional bio-heap leaching technology (see results published June 20th, 2023). Final results of Phase 1 show an increase in the average recovery to 76.0% in approximately 230 days of leaching over the planned 27-year life of the project. Average net acid consumption was also reduced by 8.3% relative to the PEA.

The potential impact of the 3.2% increase in average recovery and 8.3% reduction in net acid consumption can be illustrated by selectively adjusting the PEA Base Case financial model, which results in a life of mine copper cathode production increase of 172,000 tonnes and an after-tax NPV(8%) increase of approximately $262 million. This disclosure should not be taken to modify or update the conclusions of the PEA.

Deposit Mineralogy
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