Kutcho Copper shares jump 16% on improved met test results
Kutcho Copper Corp. (TSXV: KC) announced on Wednesday results of ongoing metallurgical testing on its Kutcho copper-zinc in British Columbia. The test program is part of the work completed or underway designed to support a feasibility study for the project.
Recoveries of copper and zinc from concentrate — up to 92.3% and 84.2% respectively — have improved significantly over the prefeasibility study (PFS) released in 2017.
Shares of Kutcho Copper jumped by 16% to a three-month high of C$0.23 on the new test results. The company’s market capitalization stands at C$15 million.
The Kutcho property, located about 100 km east of Dease Lake in the Liard mining division of northern BC, consists of one mining lease and 46 mineral exploration claims covering an area of approximately 17,060 hectares.
Earlier in May, the company secured a C$2 million financing, backed by major shareholders including Wheaton Precious Metals Corp. and Capstone Mining Corp., to develop the project.
According to the 2017 PFS, the Kutcho project has an estimated 12-year mine life with 2,500 tpd production rate – for a total life-of-mine payable production of 378 million lbs copper and 473 million lbs zinc.