In 2017 AmAuCu Mining Corp., a private company, acquired an option on the former Campbell Resources assets, which included the Copper Rand mine, mill and tailings area, the Cedar Bay mine, Lac Doré mine, Jaculet mine, Shaft 3, Portage Island and mine, Henderson I&II mines, Devlin deposit, 50% JV in the Gwillim mine and the Corner Bay mine.
Very rare, high-grade copper – gold assets in an excellent jurisdiction
Starting in autumn 2017 and continuing through the first half of 2018, over 19,000 m of diamond drilling was completed on the Cedar Bay and Corner Bay projects, producing outstanding results.
A Near-Term Re-development Opportunity
Several copper/gold deposits
Copper and gold focus – four separate high-grade deposits: Corner Bay, Cedar Bay, Copper Rand and Devlin. The former three which remain open for expansion.
Resources of Corner Bay, Cedar Bay and Devlin: Measured – 108 kt @ 2.90% Cu & 0.30 g/t Au; Indicated – 1.791 Mt @ 2.78% Cu & 0.95 g/t Au; and Inferred – 2.7 Mt @ 3.44% Cu & 1.09 g/t Au. Significant historic reserves and resources at Copper Rand.
First time all four assets are in one vehicle – potential for new discoveries.
Excellent land package
Located in the prolific Lac Doré (Chibougamau) mining camp that has produced 1.6 Blb of copper and 3.2 Moz of gold with significant exploration potential.
Past-permitted 2,700-tpd mill and tailings facility.
Quebec is one of the most favourable mining jurisdictions
Strong redevelopment support.
Experienced contractors and workers.
Attractive flow-through structure.
Strong management team and financial partners (Ocean Partners, Orion and RCF)
Provide the potential for future financing for development operations through offtake/advanced sales.