VANCOUVER, Oct. 21, 2011 /CNW/ - Further to a news release on October
11, 2011 which provided an update on the near term development of the
Florence Copper property, Curis Resources Ltd. (TSX: CUV) ("Curis" or
the "Company") has announced its voluntary withdrawal of its requests
to amend the Town of Florence General Plan and rezone a portion of its
property.
Curis continues to pursue the completion of state and federal permit
amendments required to advance Florence Copper towards full
development. The process is well advanced, involves an extensive and
in-depth review by state and federal environmental and technical
experts, and is in the final phase which includes a 30-day public
comment period that is anticipated to be initiated by the Arizona
Department of Environmental Quality and the Environmental Protection
Agency in the near term. Curis believes that the completion of this
process and amendment of the permits will give the Town of Florence and
all stakeholders greater confidence on environmental and technical
matters and the opportunity to focus their attention on matters
relating to land use. In withdrawing the requests for amendments to
the Town's General Plan and rezoning during this year's planning cycle,
the Company will focus on finalizing the environmental permit
amendments early in 2012 and intends to re-engage in these discussions
with the Mayor, Town Council and Town staff.
"A significant number of the permits required for the development and
operation of Florence Copper are already in place", commented Michael McPhie, President and CEO of Curis. "This includes important water use approvals from the Arizona Department
of Water Resources (ADWR) and air quality permits from Pinal County.
The permit amendments from ADEQ and EPA represent the final significant
step in the overall environmental approvals required for the
development and operation of Florence Copper."
"Our primary goal has been that upon the receipt of our updated major
environmental operating permits, we would move forward with Florence
Copper operations in 2 phases. Phase 1: the Production Test Facility
(PTF); and Phase 2: full commercial operations," commented Mel Lawson, Vice President of Project Development with Curis
Resources in Arizona. "Nothing with respect to our overall project development timeline has
changed as a result of today's announcement," he said.
"Our sincere desire is to build a constructive and meaningful working
relationship with the Town and our neighbors this year, next year and
in the many years to come," said McPhie. "In withdrawing our applications, our hope is that we can have an open
and meaningful dialogue with the Town after receipt of our amended
environmental permits and work to address any concerns that Council and
Town staff may have in the weeks and months ahead."
McPhie noted that about one-half of the recoverable oxide copper
contained in the 429 million ton copper oxide resource1 hosted on Florence Copper lands lies beneath a 160 acre block of State
Land. Curis holds the rights to recover and process minerals under a
mineral lease from the State on this land parcel. The Company intends
to complete its feasibility study and initiate operations utilizing
in-situ copper recovery (ISCR) technologies within this State land
parcel next year, beginning with a Phase 1 production test and ramping
up to commercial production by 2014.
The technical information in this release has been reviewed by David
Copeland, PEng, who is a qualified person that is not independent of
the Company.
About Curis
Curis Resources Ltd. is a mineral development company associated with
Hunter Dickinson Inc. (HDI), a diversified global mining company with a
25-year history of mineral development success. Curis is focused on the
acquisition, development and operation of high-quality next-generation
copper properties in progressive jurisdictions around the world. It is
currently focused on advancing its 100%-owned Florence Copper project
in Arizona USA to production.
Numerous feasibility level optimization and design studies for the
Florence Copper project are well advanced with the feasibility study on
track for completion by the end of the year. Phase 1 development is
scheduled to be constructed beginning in Q1 of 2012, following the
receipt of amended commercial operating permits currently under review
by State and Federal agencies. This project "start-up" phase will
consist of an initial 24-well copper extraction field constructed to
simulate full scale operations.
For more project-level information, sign up for the Florence Copper
project's e-Newsletter.
Michael McPhie
President & CEO
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration drilling,
exploitation activities and events or developments that the company
expects are forward-looking statements. Although the Company believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include fluctuations in market prices, exploitation and
exploration successes, continuity of mineralization, uncertainties
related to the ability to obtain necessary environmental, land use and
other permits, approvals, licenses and title on a timely basis and
delays due to third party opposition, changes in government policies
regarding mining and natural resource exploration and exploitation,
continued availability of capital and financing, and general economic,
market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company,
investors should review the Company's continuous disclosure filings
that are available at www.sedar.com.
Information Concerning Estimates of Measured and Indicated Resources
This news release uses the terms "measured resources" and "indicated
resources". The Company advises investors that although these terms are
recognized and required by Canadian regulations (under National
Instrument 43-101 Standards of Disclosure for Mineral Projects), the
U.S. Securities and Exchange Commission does not recognize them.
Investors are cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted into
reserves.
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1Measured and indicated resources are 429 million tons grading 0.331%
total copper at a 0.05% total copper cutoff (see news release dated
November 25 2010).
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<p> <b>Please visit </b><a href="http://www.curisresources.com">www.curisresources.com</a><b> or contact:</b> </p> <p> Susie Bell<br/> Manager, Investor Relations<br/> Tel: 604-684-6365<br/> Within North America: 1-800-667-2114<br/> Email: <a href="mailto:Susiebell@hdimining.com">Susiebell@hdimining.com</a> </p>