Ivanhoe Electric Targets 2025 for Santa Cruz Copper Project, Highlights High Copper Recoveries and Drilling Success
Ivanhoe Electric has provided an update on the Santa Cruz Copper Project in Arizona, where it continues to make strides towards project development. The company remains on schedule to complete its Preliminary Feasibility Study (PFS) by the second quarter of 2025. This study, which is now 50% complete, will be critical for Ivanhoe Electric’s decision-making and pursuit of long-term financing for the project.
The PFS will define an underground mining operation at the Santa Cruz deposit and will include a detailed mine plan and updated mineral resource and reserve estimates, supported by 120,000 meters of new infill drilling. Metallurgical test results have shown high copper recoveries, with up to 98% of acid-soluble copper recoverable for copper cathode production and up to 92% of floatable copper recoverable for high-grade copper concentrate production. The expected concentrate is anticipated to grade as high as 51% copper by weight, with by-products including gold and silver averaging 2.0 g/t and 145.9 g/t respectively.
In addition to metallurgical advancements, the project recently received a General Plan Amendment approval from the City of Casa Grande, allowing Ivanhoe Electric to move forward with key permit applications in the first half of 2025. Recent drilling has also intersected high-grade copper mineralization, with one drill hole returning 99 meters grading 2.39% copper, further enhancing the project’s prospects.
