CopAur advances on Nevada gold PEA and new resource estimate
CopAur Minerals Inc. [CPAU-TSXV] has announced the results of a preliminary economic assessment (PEA) for its 100%-owned Kingsley Mountain Gold Project in Nevada.
The PEA envisages an open pit, heap leach project, with average production of 30,000 ounces of gold annually for the first four years, with production expected to commence in the first half of 2028. The PEA foresees strong margins at current gold prices with all-in-sustaining costs (AISC) of US$1,861 an ounce, and AISC plus capital recovery plus estimated taxes of US$2,755 an ounce.
Other highlights of the PEA include an estimated pre-production capital expenditure of US$81.8 million, and total life of mine capital of US$117.4 million, including US$33.1 million for pre-stripping.
The PEA is based on a mineral resource estimate, which has grown 52% from an earlier estimate to 742,000 ounces (indicated) at 1.11 g/t gold, and 69,000 inferred ounces at 1.98 g/t gold. The latest estimate includes 384,000 indicated ounces at 5.32 g/t gold within the high-grade Secret Canyon zone.
The updated estimate incorporates 20,258 metres of reverse circulation and diamond drilling in 59 holes completed by the company since the previous estimate.
CopAur shares advanced on the news, rising 5.88% or $0.01 to 18 cents. The shares trade in a 52-week range of 27 cents and $0.08.
“For a modest-scale operation with a short life mine, we believe the PEA demonstrates some compelling economic potential that may support advancement toward development,’’ the company said in a press release. “In addition, near surface oxide mineralization remains open to the north of the existing open pit, providing potential opportunities to significantly extend the overall mine life through future exploration success.’’
The Kinsley project is located on unpatented claims on Federal land managed by the U.S. Department of Interior, Bureau of Land Management and is subject to regulation by branches of the Nevada Department of Environmental Protection.
Kinsley Mountain is a past producer that yielded approximately 130,000 ounces of near-surface open pit oxide gold between 1995 and 1999.
The mine was closed in 1999 after the previous owner declared bankruptcy.
In a press release on October 7, 2025, CopAur said it had submitted a Temporary Discharge Permit Application for Closed Facility Exploration to the Nevada Division of Environmental Protection.
The application seeks authorization to sample the closed and reclaimed heap leach pad to perform metallurgical testing to assess the potential for the material to be further processed in a future mining operation.
This is part of the company’s evaluation for developing a district-scale gold project in the extensive sediment-hosted Carlin-type gold mineralization surrounding the former open pit area.
Kinsley Mountain is located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont Corp. [NEM-NYSE] / Barrick Mining Corp. [ABX-TSX, B-NYSE] joint venture, Nevada Gold Mines).