Copper King Announces Concentrate Production Update
MILFORD, UT, Nov 03, 2009 (MARKETWIRE via COMTEX) -- Copper King Mining Corporation (PINKSHEETS: CPRK) ("Copper King" or the "Company") is pleased to announce that it has completed production of in excess of 500 tons of concentrates from its Milford, Utah mill, and is presently preparing to ship another 250 tons of concentrate to the receiving smelter. Gold values in the concentrates have averaged from 0.18 to 0.24 ounces per ton, while silver has averaged 18 to 22 ounces per ton of concentrate. Copper has ranged from as high as 45%, while the shipped average is somewhat lower. The Company expects to substantially increase concentrate production by adding a six-cell conventional cleaner bank to clean the concentrate and a six-cell rougher bank to re-filter the tails discharge line.
As announced in its October 20, 2009 press release the Company is also continuing with its drilling program, and has encountered significant high grade mineralization, up to 11% copper, most recently in its exploration drilling at the Bawana Extension project. This drilling is designed to develop near-surface mineable reserves that can be immediately mined and sent to the Company's nearby mill for processing. Substantial unexpected near surface mineralization has been encountered on strike with the original Bawana deposit from a depth of zero to 120 feet.
The Company is also making plans to open underground operations at its Eagle mine located near the Comet Breccia, on the western end of its mineral holdings. The Company expects that additional high grade gold, silver and copper ores will help boost the mill feed gold and sulfur content.
"We are excited to report progress in our production along with the recent drilling and discovery of additional, shallow high-grade mineralization so close to our mill and so accessible at the extension of the Bawana pit," said Mark D. Dotson, President and CEO of Copper King. "We believe that the ongoing drilling, together with ramping up production at the mill, will add to our strength and provide additional growth for the Company. Drilling at the Bawana Extension and opening up operations at the Eagle mine represent the continuation of the Company's plan to methodically explore and exploit its mining claims in the large area in the Milford Mineral Belt while ramping up production at the mill. Our plan is to continue to explore the upside potential of the entire Milford District."
Copper King Announces High Grade Drilling Results for the Bawana Extension Project
Mineralization at Shallow Depths; Intervals Grade Up to 11.84 % Copper
MILFORD, UT, Oct 20, 2009 (MARKETWIRE via COMTEX) -- Copper King Mining Corporation (PINKSHEETS: CPRK) ("Copper King" or the "Company") is pleased to announce results from its continuing exploration drilling at the Bawana Extension project. This drilling is designed to develop near-surface mineable reserves that can be immediately mined and sent to the Company's nearby mill for processing. Substantial unexpected near surface mineralization has been encountered on strike with the original Bawana deposit from a depth of zero to 120 feet. The table below summarizes selected drill intercepts and grades encountered to date on the project
The Bawana Extension Project lies east of the Copper Ranch Project area. Substantial copper, gold and silver concentrate similar to that being made at present by the Company from its mill was produced from the adjoining Bawana mine during the period 1961 - 1966. On-going drilling is being conducted using two reverse circulation drill rigs owned by the Company, and the mineralization appears to be open in multiple directions.
The Company is also making plans to open underground operations at its Eagle mine located near the Comet Breccia, on the western end of its mineral holdings. The Company expects that additional high grade gold, silver and copper ores will help boost the mill feed gold and sulfur content.
SELECTED DRILL HOLE INTERVALS
HOLE INTERVAL AND PERCENT COPPER
ABAW 24 5 TO 10 FEET 2.0%
10 TO 15 FEET 2.6%
15 TO 20 FEET 1.8%
ABAW 25 15 TO 20 FEET 3.0%
20 TO 25 FEET 1.8%
25 TO 30 FEET 1.3%
75 TO 80 FEET 5.66%
ABAW 26 65 TO 70 FEET 3.8%
70 TO 75 FEET 4.0%
75 TO 80 FEET 3.8%
ABAW 27 75 TO 80 FEET 1.4%
80 TO 85 FEET 1.7%
85 TO 90 FEET 3.7%
90 TO 95 FEET 4.8%
95 TO 100 FEET 2.0%
ABAW 28 40 TO 45 FEET 11.84%
45 TO 50 FEET 3.4%
50 TO 55 FEET 1.7%
60 TO 65 FEET 1.2%
ABAW 30 45 TO 50 FEET 4.9%
50 TO 55 FEET 1.9%
"We are excited to report the drilling and discovery of additional, shallow high-grade mineralization so close to our mill and so accessible at the extension of the Bawana pit," said Mark D. Dotson, President and CEO of Copper King. "We believe that the ongoing drilling, together with ramping up production at the mill, will add to our strength and provide additional growth for the Company. Drilling at the Bawana Extension and opening up operations at the Eagle mine represent the continuation of the Company's plan to methodically explore and exploit its mining claims in the large area in the Milford Mineral Belt while ramping up production at the mill. Our plan is to continue to explore the upside potential of the entire Milford District."
Copper King Confirms Fundamental Feasibility of Copper Cementation
MILFORD, UT, Oct 14, 2009 (MARKETWIRE via COMTEX) -- Copper King Mining (PINKSHEETS: CPRK) today announced completion of successful feasibility analysis of the copper cementation process applied to solutions derived from leaching the oxide portions of its crushed ore. The Company plans to install cementation facilities in advance of the construction of its planned SX/EW plant. The Company expects that the cementation process will create an immediate additional income stream, at a minimal capital expenditure.
Mark Dotson, Chief Executive Officer, further stated, "Cementation is a simple, reliable process that will immediately bolster the company's bottom line and further validate the company as a 21st century producer."
Copper King Commences Regular Shipments of Copper Concentrates
Doubling of Magnetite Production Also Expected
MILFORD, UT, Sep 17, 2009 (MARKETWIRE via COMTEX) -- Copper King Mining Corporation (PINKSHEETS: CPRK) ("Copper King" or the "Company") and its wholly owned subsidiary, Western Utah Copper Company, are pleased to announce that they are scheduled to begin regular shipments of copper concentrate beginning September 21, 2009 to a receiving smelter pursuant to the Company's concentrate sale agreement with RBS Sempra Metals & Concentrates, LLC on behalf of The Royal Bank of Scotland PLC. The Company expects to initially ship one truck load per day, five days a week, gradually increasing to three trucks per day, five days a week. The Company also announces that it further expects to increase its magnetite production by as much as 100%, from the current level of approximately 2,000 tons every ten days to 4,000 tons of magnetite concentrate every ten days. Shipment of magnetite is currently by rail, while copper concentrate shipments will initially be by truck to a domestic receiving smelter.
"After previously commencing production operations at the mill, commencing the regular shipment of copper concentrate pursuant to the concentrate sale agreement represents the next major step in the progress of our project," said Mark Dotson, Copper King's CEO and President. "This signifies that we have achieved the successful operation of all of the major circuits in the mill for the production of commercial quantities of saleable copper concentrates on a regular basis. We now look forward to increasing production rates as well as to further exploration and potential development of the entire Milford Mineral Belt."
Copper King Affirms Delivery of Copper Concentrate to Smelter
MILFORD, UT, Sep 30, 2009 (MARKETWIRE via COMTEX) -- Copper King Mining (PINKSHEETS: CPRK) today announced that it has completed delivery of the first 25 tons of its copper concentrate as stipulated in its contract with RBS Sempra Metals & Concentrates, LLC. The company also affirmed that it now has completed the logistical arrangements to make continued deliveries five days a week for the foreseeable future. The Company has delivered 75 tons of concentrate through today with two trucks carrying 50 additional tons to be delivered Thursday, October 1st.
Mark Dotson, Chief Executive Officer, further stated, "We have a backlog of concentrate awaiting shipment as well as Mill production so we can maintain a steady flow of product to service our contract with Sempra. The mill is currently ramping up production and we continue to make headway towards our goal of processing 3375 tons of ore per day."
By Jasen Lee
Deseret News
Published: Friday, March 27, 2009 11:53 p.m. MDT
MILFORD — A 20-year labor of love and dedication could reap big dividends for a central Utah community in desperate need of economic hope. Loud cheers and applause echoed throughout the newly constructed Copper King Mining Corp. mill Friday as chief executive officer and president Mark Dotson cut the ribbon on what he said he wanted to be the future employer in the area for years to come.
Dotson, head of the Copper King Mining and subsidiary Western Utah Copper Co., told the Deseret News that getting this project completed was about creating "cash flow, income and economic freedom" for his family, his employees, the county and everyone who lives in the Milford community.
"It's about the jobs and the economic development," he said.
The $60 million plant is located about 30 miles west of Beaver just outside Milford. It sits on a small parcel of land surrounded by 24 square miles of Copper King-owned property that Dotson said holds enormous potential.
"We've found a substantial network of copper deposits," he said.
"We have virtually an ocean of copper out here," Dotson said.
He said that while the exact amount of copper deposits was unknown, it could be about the size of Kennecott's Bingham Canyon site.
"We believe that we have enough resources to operate this endlessly," he said. The property contains at least a dozen deposits of copper, Dotson said.
He said that the average ore grade on the Copper King site is approximately three times higher than ore found at other sites around the world, meaning better production.
"For example, Kennecott's Bingham Canyon is operating at about .50 percent per ton," he said. "This deposit will be about 1.8 percent per ton, around 36 pounds of copper compared to 9 or 10."
Initially the plant will produce about 80,000 pounds of copper per day, with capacity increasing to approximately 150,000 pounds per day in the next five years.
Besides copper, Dotson said the company also expected to extract gold, silver and other minerals.
In 2008, Copper King Mining Corp. and Western Utah Copper Co. merged with Copper King, becoming the parent of wholly owned subsidiary Western Utah Copper, he said.
Dotson said that he purchased Copper King after taking about 20 years to gain ownership of the various parcels that make up the entire 24-square-mile mining area.
There are currently about 150 employees and contractors working on-site with numerous local companies providing materials and equipment for the construction of the mill, Gavin Wenzel of Copper King Mining investor relations said in an e-mail to the Deseret News.
Mill manager Dave Jensen said that the facility would begin daily operation in the next two to four weeks and would employ about 200 people at full capacity.
Jensen added that when the mill is up and running, the revenue generated from the gold and silver that is extracted from the ore on the site would be sufficient to pay the day-to-day operational costs of the facility.
"This plant is really our springboard for growth to fund the cost of development," he said. The company hopes to identify other large veins of ore over the next five to ten years, which could mean building another larger facility and hiring even more workers.
Dotson said that copper produced at the mill would be sent to the marketplace where it would be used for piping, wiring and numerous other commercial applications.
The 51-year old father of three and grandfather of four said that mining has been in his family since the 1850s. In fact, he spent the first five years of his life living at the Gold Crown Mine in Beaver County, he noted.
On this momentous day, he shook countless hands and received dozens of heartfelt hugs from local residents who expressed gratitude for his efforts in bringing good-paying jobs and hope to the downtrodden local economy.
Dotson said that while his two-decade struggle to acquire the necessary land rights to mine the ore and accumulate the $60 million of investor support to get the mill project built has been challenging, he was glad that future generations would be able to reap the long-term fruits of his labor.
"In 10 years, I want my grandkids to graduate from high school and have a good job," he said
