Canadian Copper Acquires Caribou Mill for Processing Murray Brook Ore

Canadian Copper (CSE: CCI) has signed an agreement to acquire the Caribou mill, a strategic move aimed at de-risking and expediting production from its Murray Brook copper-zinc-lead-silver deposit located in the Bathurst mining camp of New Brunswick. This acquisition reflects the company's commitment to enhancing its operational efficiency and production capabilities.

The Caribou mill complex features a 3,000-tonne-per-day mineral processing facility that includes a primary grinding circuit, one semi-autogenous grinding (SAG) mill, and a ball mill. Additionally, the facility has two regrinding circuits equipped with three ISA mills and one pall mill, along with a differential sulphide flotation plant and a reagent system. The complex also encompasses laboratories, a tailings management facility, an underground mine, connections to the hydro grid, and a reliable water supply for operations.

Canadian Copper is set to pay approximately C$6.2 million for this fully permitted complex, which includes a C$225,000 deposit, half of which is refundable against the total purchase price. The completion of the transaction is scheduled for next July, marking a significant step forward for the company.

Simon Quick, CEO of Canadian Copper, expressed enthusiasm about the agreement, stating that it creates important synergies for the company. He emphasized that by integrating the large Murray Brook deposit with the already permitted and operational Caribou complex—last operated as recently as August 2022—the company aims to substantially reduce the timeline, capital expenditure, and permitting processes required to produce copper, zinc, and lead concentrates from the Murray Brook site.

To facilitate this transition, Canadian Copper has already engaged consultants to design, engineer, and develop the mining and milling processes for the Murray Brook deposit. The company anticipates releasing a preliminary economic assessment in the first half of 2025. Furthermore, modifications to the water management and tailings facilities are currently being evaluated to ensure compliance and operational efficiency.

The Murray Brook deposit is notable for its measured and indicated sulphide resources, which total 21.1 million tonnes with grades of 0.45% copper, 0.91% lead, and 2.49% zinc. Additionally, there is a measured and indicated oxide resource of 2 million tonnes, averaging 1.03% copper, 0.74% lead, and 2.22% zinc. Inferred resources are estimated at 110,000 tonnes of sulphides with grades of 0.41% copper, 0.68% lead, and 1.82% zinc.

This acquisition positions Canadian Copper to effectively capitalize on its resources and streamline its production efforts, making significant strides in the competitive mining landscape.