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La Verde Project, Mexico, Preliminary Economic Assessment
By: PR Newswire
Jan. 18, 2013 12:52 PM
VANCOUVER, Jan. 18, 2013 /PRNewswire/ - Catalyst Copper Corp. ("Catalyst" or "the Company") announces La Verde project's NI 43-101 Technical Report; including a Preliminary Economic Assessment Study ("PEA") completed by AMC Mining Consultants (Canada) Ltd. and effective September 2012 has been filed and can be viewed on SEDAR. The Technical Report is based in part on a preceding document entitled "Technical Report and Resource Estimate of the La Verde Copper Project, Mexico", by Margaret Harder, M.Sc., P.Geo. and Michael F. O'Brien, M.Sc., PrSci. Nat., GSSA, FAusIMM, FSAAIMM, both Qualified Person, of Tetra Tech Inc., dated 19 September 2012.
Catalyst invites you to attend the Vancouver Resource Investment Conference, January 20th and 21st, 2013 and visit us at Booth 1027, Vancouver Convention Centre West from 10:00AM - 5:00PM to discuss the latest project results.
Summary highlights of the PEA and 20 year Life of Mine (LOM) plan include:
**all calculations are to a 100% interest in the La Verde project (and after deducting a 0.5% NSR royalty). The La Verde Project PEA includes analysis at various metal prices. Base case metal prices utilized for preparation of the Mine Plan, and in the above table, were Cu-$2.70; Au $1200/ounce ("oz"); Ag - $25/oz. Financial estimates are earnings before income tax, depreciation and amortization allowances ("EBITDA") and all dollars are US$.
The PEA is preliminary in nature and includes the scheduling of Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Measured or Indicated Resources. There is no certainty that the results of the PEA will be realized. Investors are cautioned that the La Verde project is at an early stage of development and no feasibility study has yet been undertaken. Further studies are required, but not limited to, drilling, metallurgical, geotechnical and the ability of the company to acquire surface rights, adequate waste and tailings storage areas, environmental permitting and the "Social licence" from the effected local communities to explore, develop and operate the project.
T.W. Hodson, P.Geo. is the qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, has reviewed and accepts responsibility for the information contained in this news release.
About La Verde
La Verde is located in an area with excellent infrastructure: Power, rail and water. Lazaro Cardenas, Mexico's third largest port on the Pacific Ocean is 180 km from the site. Significant upside potential remains for the two known zones of porphyry style copper, gold and silver mineralization as drill programs have shown both deposits remain open to depth and along strike.
La Verde property is subject to an option agreement with a Mexican subsidiary of Teck Resources Limited (Teck) whereby Catalyst's 100% Mexican subsidiary, Minera Hill 29, may earn a 60% interest in La Verde by making US$10,000,000 in exploration expenditures (including 30,000 meters of drilling and 200 kilometers of IP) by December 31, 2012. Catalyst has delivered notice to Teck's Mexican subsidiary that it has met its expenditure commitments. Upon Catalyst earning its 60% interest, Teck's subsidiary has the option, by providing notice to Catalyst by March 3, 2013, to increase its interest to 60% by incurring aggregate expenditures equal to two times the amount spent by Catalyst. Should Teck fail to exercise its option to earn a 60% interest, Catalyst can acquire a 100% interest in La Verde by paying to Teck US$20 million. The property is subject to an underlying 0.5% NSR Royalty.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Terence W. Hodson, P.Geo."
TERENCE HODSON, V.P. EXPLORATION
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Quality Assurance: The Company employs a system of quality control for drill results which includes the use of blanks, certified reference materials (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Acme Analytical Laboratories Ltd. for analysis. All elements with the exception of gold are analyzed by Aqua Regia digestion and ICP-ES analysis. Gold is analyzed by fire assay method.
SOURCE Catalyst Copper Corp.
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