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An Exploration and Development Stage Company

FF: IE6

OTCQX: IEXCF

TSX.V: IEC

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Contact Copper Project

Project Summary

Highlights

  • Feasibility stage project
  • 25 million pounds per year
  • US$86 million capital expenditure
  • 20% IRR at $2.25/lb Cu
  • 100% Enexco owned
  • 2 hours northwest of Salt Lake City, Utah

Project Status

Feasibilty stage
  • Feasibility study currently underway
Operation Plans
  • Copper Recovery via solvent extraction-electrowinning (SX-EW)
  • Direct marketing copper cathode
  • No smelter required

Responsibility

Our Approach
  • Concurrent reclamation while drilling
  • Ongoing monitoring for revegetation

Property Information

  • Elko County, Nevada
  • 100% Owned by International Enexco and royalty free
  • 861 acres of private (patented claims)
  • 2,667 acres of unpatented mineral claims
Land Acquisition in Progress
  • Additional 111 patented claims and 326 unpatented lode claims
  • Total of 155 patented claims and 609 unpatented lode claims

Financial Information

  • 20.2% IRR (as per latest Prefeasibility Study)
  • Net Present Value (NPV) at 10% discount rate of $44.5 million

Studies Conducted

Feasibility study currently underway

2010 Pre-feasibilty Study by Gustavson Associates, LLC of Lakewood, Colorado, an independent engineering consulting group. (results listed below)

Mineral Resource Estimate reported at 0.10% Cu cut-off

Category Tons Copper
Cu (%) Pounds Cu
Measured 52,976,000 0.282 298,397,000
Indicated 82,233,000 0.251 413,413,000
Measured + Indicated 135,209,000 0.263 711,810,000
Inferred 53,490,000 0.272 291,368,000

Mineral Reserve Estimate reported at 0.10% Cu cut-off

Category Tons Copper
Cu (%) Pounds Cu
Proven 27,011,000 0.305 164,701,000
Probable 27,138,000 0.280 152,199,000
Proven + Probable 54,149,000 0.293 316,899,000

This report, entitled NI 43-101 Technical Report Pre-feasibility Study Update for the Contact Copper Project Elko County, Nevada, USA, was filed with SEDAR on October 12, 2010 with and effective date of October 1, 2011. Please view the below NI 43-101 report for more details and explanations.

Exploration Potential

  • North porphyry target
  • Oxide/sulfide expansion