Mr. Michael McPhie reports
CURIS RECEIVES KEY LETTER OF SUPPORT FOR THE FLORENCE COPPER PROJECT FROM ARIZONA STATE LAND DEPARTMENT
Curis Resources Ltd. has received a key letter of support recently
from Arizona State Land Commissioner Maria Baier in relation to the
development of the Florence copper project.
In a letter dated Aug. 24, 2011, the State Land Commissioner concluded that:
"The ASLD, whose mission is to manage State Trust lands and resources
to enhance the value and optimize economic return for Trust
beneficiaries, has no objection to the FCP (Florence Copper Project)
from an environmental perspective, and does see a clear benefit to the
Trust from revenue generated through its mining operations and
subsequent reuse made possible through sound mining and reclamation
practices."
"We welcome the support and leadership that has been shown here by
Commissioner Baier," commented Michael McPhie, president and chief executive officer of Curis. "After many months of technical review and meetings with our team in
Arizona, the Arizona State Land Department (ASLD) has concluded that
the development of the Florence copper project is the highest and best
use of the land. This is a key step in the approval and permitting
process for the project and is an important part of preparing the
ground for the start of development early in 2012."
Curis holds the rights to a 160-acre mineral lease issued by the ASLD.
That lease covers a little over half of the known 2.84-billion-pound
measured and indicated copper oxide resource(1) located in Florence, Arizona. The remaining 1,182 acres of land that
is owned by Curis is private patented land.
"Curis continues to make good progress in securing all the required
environmental and related approvals needed for the development of the
Florence copper project," said Mr. McPhie. "The state land support indicated in this letter helps to validate our
work to date and clearly recognizes the positive steps our engineering
and development team have taken to design a world-class,
environmentally sustainable copper recovery project. Our goal now is
to secure the remaining state, federal and local permits and approvals
required to advance the project to near term development."
A full copy of the letter from Commissioner Baier can be viewed on the
company's project website.
Project update
As was recently disclosed (see July 20 and Aug. 16, 2011, Curis press
releases) Florence copper is an advanced stage in-situ copper recovery
project with an anticipated start of construction and development in
early 2012. In addition to project permitting and approvals process,
the company continues to advance engineering and optimization studies
as a lead up to the completion of a feasibility study.
(1) Estimated measured and indicated mineral resources of 429.5 million
tons grading 0.331 per cent total copper (TCu) at a 0.05-per-cent TCu cut-off (for
further details see Nov. 25, 2010, Curis press release).
We seek Safe Harbor.
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