The Copperwood project is located in the Upper Peninsula of the State
of Michigan some 30 kilometres southwest of the inactive White Pine Mine
where over 1.7 million tonnes of copper and over 4.5 million ounces of
silver were produced between 1953 and 1996.
Through its wholly-owned subsidiary, Orvana Resources US Corp., Orvana
entered into long-term mineral lease agreements covering 936 hectares
within the “Western Syncline”, which is located in the the State of
Michigan, USA comprising the “Copperwood Project”. The Company also
completed option agreements on three other mineralized areas, which are
referred to collectively as the “Copperwood Satellites”. In addition,
the Company purchased the surface rights on about 700 hectares that
secured access to the Copperwood Project and additional space for
In February 2012, the Company announced results of an NI
43-101-compliant feasibility study, “Feasibility Study of the Copperwood
Project, Upper Peninsula, Michigan, USA” (the “Copperwood Technical
Production for the 13-year mine life will be about 1.5 million short
tons of copper concentrate averaging about 28,000 short tons of copper
per year at the 7,500 short tons of ore per day capacity. Copper will be
extracted by conventional flotation.
Optimization work continues further to the Copperwood Technical Report,
with a focus on additional metallurgical testing and mine design.
The Company has achieved all major permitting milestones in respect of
the Copperwood Project.
The Copperwood project is shovel ready and has the potential to be in
production as early as 2015. Orvana is continuing to investigate a
variety of possible options and financing alternatives to enhance the
value of the Copperwood Project to Orvana’s shareholders.
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Copperwood and Satellite Deposits
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