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Kutcho Copper Corp. reports company developments tied to its feasibility-stage, high-grade copper-zinc development project in northwestern British Columbia. Recurring updates describe the Kutcho project, VMS district-scale exploration potential, near-resource drill targets such as Esso West, Hamburger, The Gap and Jenn, and geophysical work using ZTEM, VTEM, seismic, mapping and geochemical data.
Company news also covers project enhancement work following the 2021 feasibility study, metallurgical and geological updates, qualified-person review under National Instrument 43-101, precious-metals stream support from Wheaton Precious Metals, and board and governance changes as the company advances development planning.
Kutcho Copper (TSXV: KC) (OTCQX: KCCFF) has announced a favorable resolution to its ongoing audit with the Canada Revenue Agency (CRA). The audit involved the company's subsidiary, Kutcho Copper Holdings Inc. (KCH), for taxation years ending April 30, 2019, and 2020. Initially, the CRA had denied almost all expenses claimed by KCH related to work programs conducted in 2018 and 2019.
Following formal notices of objection filed by KCH, the CRA has now fully allowed the disputed amounts. As a result, Kutcho Copper expects to receive approximately $800,000 in refunds, comprising GST refunds that were previously withheld, mining exploration tax credits for the 2020 taxation year, and accrued interest on withheld amounts.
Kutcho Copper (TSXV: KC) (OTCQX: KCCFF) provided an update on its feasibility-stage copper-zinc project in British Columbia. The project's feasibility study demonstrates strong economics with after-tax NPV ranging from C$536M to C$839M at various copper prices (US$4.00-5.00/lb), with IRRs between 30.5% and 42.3%.
Recent optimization efforts have yielded significant improvements, including a $57 million reduction in initial capital through deferring underground operations, and enhanced metallurgical processes. The company is advancing mine closure details and has confirmed non-acid generating properties of overburden materials.
The project features existing infrastructure including a camp and airstrip, with planned exploration of multiple targets in 2025. Two key exploration areas - Esso West and Mother targets - will be tested with 4,100m of drilling. The Esso West target notably showed historical drilling results of 7.2m @ 2.0% Cu and 5.2% Zn.
Kutcho Copper announces the resignation of Stephen Quin from its board of directors, though he will continue as an advisor to the company. Quin has served as director since the company's foundation in 2017, contributing to the completion of the feasibility study. The Kutcho copper-zinc project is highlighted as one of the few high-grade copper-zinc projects in Canada positioned to potentially benefit from increasing copper demand related to electrification and decarbonization trends.
Kutcho Copper has enhanced its drill targeting at its high-grade copper-zinc project in north-western British Columbia. The company has refined data using ZTEM, VTEM, and seismic methods to improve target delineation, especially at the Esso West location, which has shown promising results. Kutcho Copper has also identified two additional targets near the Main Zone. Mira Geoscience provided the data analysis, showing significant depth potential up to 800m. Despite historical work, Esso West showed a 7.2m intercept with 2.0% Cu and 5.2% Zn. The company is also progressing on new targets: Sumac Gap and Hamburger.
Kutcho Copper Corp. (TSXV: KC, OTCQX: KCCFF) has outlined key value opportunities and accomplishments for its high-grade copper-zinc project in British Columbia. Highlights include a feasibility study presenting an after-tax NPV of C$384M to C$839M and IRR of 24.2% to 42.3% at copper prices from $3.50 to $5.00/lb. The project's strategic location features existing infrastructure and reduced environmental impacts. 2023 milestones include significant metallurgical optimization, capital reduction via deferred underground mining, and promising exploration targets like Esso West and Mother. For 2024, the focus is on advancing exploration, evaluating strategic opportunities, and progressing towards production.
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Kutcho Copper Corp. has officially commenced trading on the OTCQX Best Market under the symbol KCCFF as of May 27, 2021. This upgrade from the Pink market reflects the company's commitment to transparency and high financial standards, aiming to enhance its visibility to U.S. investors. The President, Vince Sorace, noted that the improved market presence could expand the investor base, especially as the copper market remains robust. The company focuses on developing its high-grade copper-zinc project in British Columbia, committed to social responsibility and environmental standards.