Canadian junior Lion Copper and Gold Corp is looking at a base case capital intensity of circa-US$12,000 a tonne for a proposed US$724 million, 54,000 tonnes per annum copper project in Nevada, USA.
The company’s pre-feasibility study on wholly-owned Yerington was funded by Rio Tinto-controlled Nuton, which could provide its leach technology for sulphide-ore copper recovery.
Lion Copper and Gold has been “actively engaged” in Yerington since 2006 and working with Nuton, which has an option to acquire 65% of Yerington, since 2022. A January 2024 preliminary economic assessment put a US$413 million capital cost on a proposed 53,000tpa operation.
“With growing domestic demand for refined copper we are pleased to announce the completion of the PFS for Yerington, a brownfield asset in Nevada, planned to produce 120 million pounds of refined copper cathode annually over a 12-year mine life,” Lion CEO John Banning said.
“This PFS showcases Lion Copper and Gold’s strategic advantage in the Yerington copper district, bolstered by secured water rights, the Bear deposit’s significant potential, strategic land control and proximity to major neighbouring copper projects, positioning us to deliver significant shareholder value and strengthen North America’s critical minerals supply chain.”
Lion has outlined proven and probable reserves of 506.5 million tonnes grading 0.21% copper, containing an estimated 2.14 billion pounds of copper. Its study suggests it can produce copper at US$2.67/lb from conventional heap leaching of oxide material and Nuton leaching of sulphides, plus solvent extraction-electrowinning (SX/EW). Metallurgical tests so far indicate 73.2% copper recovery from sulphides and 60% from oxide ore, according to Lion.
Vancouver-based Lion Copper and Gold has a current market value around C$55 million.
