The Florence Copper site hosts a shallowly buried porphyry copper deposit with measured and indicated oxide mineral resources of 429.5 million tons grading 0.331% total copper (at a 0.05% total copper cutoff) and containing 2.84 billion pounds of copper.
The property is located in Pinal County, Arizona, approximately 70 miles north-northwest of Tucson and 65 miles southeast of Phoenix. It is readily accessible by road from the town of Florence. Situated in the Sonoran Desert of the Basin and Range Lowlands, the property lies at elevations ranging from 1,475 to 1,490 feet above sea level.
The Florence Copper site was fully permitted for in-situ copper recovery (ISCR) production in the late 1990s, and Curis is in the process of updating these permits. Existing site development includes an administration building with offices, power and communication lines, graded dirt roads, a core storage building as well as equipment and facilities for ISCR production studies.
Curis believes there is excellent potential to develop a world-class ISCR operation at Florence. Near-term activities will include engineering and environmental feasibility studies, full project permitting, operation of an on-site office and community outreach. Curis will initiate Phase 1 development of the project - including a fully operational in-situ well field and SX/EW demonstration plant. Commercial copper production is targeted for mid-2014.
Curis management are currently focused on the completion of a Bankable Feasibility Study (BFS) and preparing for the start of a Phase 1 Production Test Facility (PTF) program. Subject to completion of project permitting, Phase 1 construction is intended to begin in mid 2012 with operations starting before year end.
Full commercial operations are anticipated to begin in 2014.
