Gunnison Copper (TSX:GCU) has agreed with Nuton to add approximately 2.72 million tonnes of mineralised material to the stage two mine plan at its Johnson Camp Mine in southeast Arizona, US.
Nuton — a Rio Tinto (ASX:RIO) venture — will pay Gunnison US$8 million ($11.21 million) in connection with the revised mining activities. Payment is expected in the December quarter.
The additional material will be mined between 2027 and 2029 without extending the existing demonstration schedule.
CEO Craig Hallworth says the revision supports continued operations and retains manpower and technical capabilities.
“The additional material supports continued operations, preserves critical workforce and technical capabilities, strengthens the long-term outlook for the project, and advances our mission to reliably supply pure American copper from Southern Arizona,” Hallworth says.
Johnson Camp is producing copper and is fully funded by Nuton.
The agreement comes alongside drilling and metallurgical work at the separate Gunnison Copper Project and nearby Strong & Harris deposit. Gunnison previously outlined plans to expand its drilling fleet to six rigs in September, as reported by Mining.com.au.
Separately, the company says it has elected not to claim conditionally awarded US Department of Energy Section 48C tax credits and will evaluate other federal incentives.
Gunnison Copper is a Canadian-listed copper producer and developer advancing projects in the Cochise Mining District in Arizona, US.
Write to France Pinzon at Mining.com.au
Images: Gunnison Copper
