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Josemaria Resources Inc. (TSX: JOSE) (OTC: JOSMF) Files Key Report, Notes Positive Study Regarding Argentine Property
November 17, 2020

Josemaria Resources Inc. (TSX: JOSE) (OTC: JOSMF) Files Key Report, Notes Positive Study Regarding Argentine Property

  • Technical report supports recent positive feasibility study announcement
  • Study projects average annual metal production of 136,000 tonnes of copper, 231,000 ounces of gold and million-plus ounces of silver
  • Josemaria one of world’s very few readily developable copper-gold projects

Josemaria Resources (TSX: JOSE) (OTC: JOSMF) has filed a key technical report to support its recent positive feasibility study announcement. The report, which was prepared under National Instrument 43-101 Standards for Disclosure for Mineral Projects, is in regard to the company’s wholly owned Josemaria Copper-Gold Project, located in San Juan Province in Argentina.

Last month Josemaria Resources announced the positive results of a feasibility study focused on its Argentine property. The study reported a robust, rapid pay-back, low-risk project with an open-pit operation feeding a conventional process plant at 152,000 tonnes a day; the mine life was estimated to last 19 years. The study projected an average annual metal production of 136,000 tonnes of copper, 231,000 ounces of gold and more than a million 1,164,000 ounces of silver.

“We are extremely pleased with the results of the Feasibility Study at Josemaria, which indicates that this is one of the very few readily developable copper-gold projects in the world today,” said Josemaria Resources president and CEO Adam Lundin. “This study has materially de-risked the project and forecasts an attractive economic outcome which is comparable with other large-scale copper/gold projects already being developed or in production today. We believe that Josemaria is perfectly positioned to commence production by mid-decade, meeting rising copper demand from a rapidly electrifying global economy. I believe the study results will allow us to unlock various financing opportunities as we move toward construction.”

The study was prepared by a team of engineering and consulting service providers led by Fluor Canada Ltd. with key sections prepared by SRK Consulting (Canada) Inc. and Knight Piésold Ltd. The study was conducted in accordance with the disclosure standards of National Instrument 43-101.

The feasibility report comes at an ideal time for JOSE. In 2019, the global smart mining market totaled approximately $6.8 billion; current trends indicate it will more than triple that by 2025, reaching approximately $20.31 billion. That increase, experts observe, will be driven by technological advancements within the sector. 

Another positive indicator for the Josemaria project is the steady growth in demand for both copper and gold. The global copper market is expected to reach $222.1 billion by the end of 2026, while demand for gold is also expected to rise as economic uncertainty increases globally.

Josemaria Resources is a Canadian natural resources company based in Vancouver, British Columbia. The company’s current focus is on advancing the development of its wholly owned Josemaria copper-gold mining project. Josemaria Resources is part of the Lundin Group of companies, a conglomerate of 13 business entities operating in the mining, oil and gas and renewables sectors around the world. 

For more information on Josemaria Resources, visit the company’s website at www.JosemariaResources.com.

NOTE TO INVESTORS: The latest news and updates relating to JOSMF are available in the company’s newsroom at https://ibn.fm/JOSMF

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