Copper Mesa Mining Corporation is a Canadian mineral exploration and development company committed to increasing shareholder value by expanding its resource base through advancing its near-term properties, further exploration at its current properties, forming exploration alliances with other mining companies, and pursuing opportunities for the acquisition of additional properties of merit throughout the Americas.
In March 2008 we completed the acquisition of all of the common shares of St. Geneviève Resources Ltd. and its U.S. properties - the historical past producing Zonia and Emerald Isle copper mines in Arizona, the Malachite and Satellite exploration prospects in Nevada, thus broadening the Company’s horizons by diversification into another country.
In Ecuador, the Company holds a 100% interest in both the Chaucha copper-molybdenum porphyry property and the Junin copper-molybdenum- porphyry property; has an option to purchase a 100% interest in the Telimbela copper-molybdenum property; and has exclusive use of an extensive exploration database developed for Ecuador by Rio Tinto Mining and Exploration Limited (LSE: RIO).
WORK IN PROGRESS
Zonia Copper Project, Arizona
“Our objective is to begin producing 20 million pounds of copper per year from Zonia in 2010 based on solvent extraction / electro-winning (SXEW) processing technology,” said Gary Davis, President and CEO, in June 2008. Tetra Tech Inc. (“Tetra Tech”), an international provider of technical and engineering services, expects to complete a definitive feasibility study in the first quarter of 2009. In June 2008, we acquired a comprehensive metallurgical data package from Metcon Research, Inc., an international engineering consulting group providing quality metallurgical and analytical research services to the mining industry. This package, coupled with proposed additional testing of deeper material within the existing mine pit boundaries and in areas of probable pit expansion, will assist in fast-tracking the feasibility study
Approximately US$2.5 million has been budgeted in 2008 to support advancement of the Zonia project, which, according to a NI 43-101 report is estimated to host an inferred resource of 63 million tons averaging 37% total copper (cut-off grade of 0.25% total copper) and containing 460 million pounds of copper.
Emerald Isle Project, Arizona
We intend to perform a detailed evaluation of the economics of returning the Emerald Isle copper mine to production. A National Instrument 43-101 (NI 43-101) report estimates that the property contains indicated resources of 2.3 million tons grading 0.625% copper (cut-off grade of 0.30% copper) containing 27.5 million pounds of copper. It is projected that the Emerald Isle property could be returned to production status within 12 months, pending financing, at an estimated capital expenditure of US$4 - 6 million.
