The Chloride Copper Project
The Chloride Copper property consists of 37 unpatented lode mining claims and 12 millsite claims, and is located 24km northwest of Kingman, in the Wallapai District, Mohave County, Arizona. An open pit mine and the existing SXEW processing plant operated at the site from 1995 before being idled in 1996 due to low copper prices.
The copper deposit is hosted by Late Tertiary conglomerates and, to a lesser extent, by Quaternary alluvium and Cretaceous granitic rocks. Copper mineralization at this property is in the form of mineralized lenses contained within a paleochannel a few thousands of feet long and up to 750 feet wide. The source of copper is interpreted to be the low grade porphyry-type copper mineralization at Alum Wash, about 3.5 miles northeast of the Emerald Isle deposit. The mineralization is characterized by dark blue to black rock similar to the Exotica deposit, a satellite of the huge Chuquicamata copper deposit in Chile.
Past exploration (seismic survey by Arimetco) results suggest that a paleochannel similar to the one hosting this deposit may be present south of the current open pit however there can be no assurance at this time that such a paleochannel actually exists.
The Rizzo Report done in 2012, increased the reserves and they are higher than previously estimated. The existing ore below the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13M lbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources.
Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50M lbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.