The Green Bay copper-gold project is located in the Baie Verte district of north-east Newfoundland, Canada. The province of Newfoundland and Labrador has been recognised as a top four global mining investment jurisdiction in the 2022 Fraser Institute Annual Survey of Mining Companies.
The project consists of multiple assets headlined by the Ming underground mine.
The acquisition of the Green Bay Copper-Gold project diversifies AuTECO’s commodity base and positions the Company as a leading high-grade copper-gold explorer and developer in North America.
The Green Bay project is located on the Baie Verte peninsula of north-west Newfoundland, Canada. The province of Newfoundland and Labrador has been recognised as a top four global mining investment jurisdiction in the 2022 Fraser Institute Annual Survey of Mining Companies.
The Green Bay Copper-Gold project comprises numerous assets, including:
- Ming underground mine
- Little Deer exploration project
- Nugget Pond processing plant
- Concentrate storage facility at Goodyear’s Cove port
The Ming mine is a fully operational underground mine with accessible decline, 650m shaft and other surface infrastructure.
The Green Bay Copper-Gold project currently hosts a high-grade copper resource of 39.2Mt @ 2.1% for 811,000t CuEq with significant potential to grow.
The Company has a clear strategy to:
- Rapidly grow the resource at Ming through investment in drilling; and
- Demonstrate the size and scale of a globally significant high-grade copper-gold asset.
AuTECO sees opportunity to create shareholder value by rapidly expanding the already impressive resource at the Ming underground mine through investment in drilling. The existing underground infrastructure will fast-track work, with drill positions immediately accessible.
Phase 1 of the growth program plans for development of a 700m exploration drive in addition to 40,000m of diamond drilling.
This program will test the down-plunge extension of the Lower Footwall Zone, where the deepest hole completed to date returned 102m @ 1.7% copper.