Lion Copper names Steven Dischler as CEO
Lion Copper and Gold Corp. [LEO-TSXV, LCGMF-OTCQB] said it has promoted Steven Dischler to the role of CEO. He succeeds Travis Naugle, who is stepping down from the CEO role, but will remain a director and co-chairman of the company.
Prior to his appointment as CEO, Dischler was Lion Copper’s vice-president, environment, social and governance. He previously served as president and CEO from July 2013 to September, 2015.
The company said the promotion of Dischler to CEO is a reflection of the positive advancement and stage of the company’s Yerington copper project in Nevada, and a testament to the company’s commitment to move the asset towards production with its strategic partner Rio Tinto Plc. [RIO-NYSE]
The company said Dischler has over 40 years of directly relevant experience to Lion’s development goals at the most senior levels in the natural resources sector with a focus on the environment, reclamation, permitting and stakeholder engagement. His recent experience includes over 13 years as a senior executive advancing legacy and new mining projects in the historic Yerington copper district.
Lion Copper shares were unchanged at $0.085, and trade in a 52-week range of 10 cents and $0.065.
Total funding of US$11.5 million is expected to advance the Yerington project through completion of a pre-feasibility study and progress permitting and exploration initiatives at the Bear deposit, a large and partially defined zone of porphyry copper mineralization, located almost entirely on private lands approximately 5.0 kilometres north of the former Yerington open pit mine.
The company comes after Lion Copper recently announced the positive results of a preliminary economic assessment at its Yerington Copper Project. The PEA envisions an open pit mining strategy following by a heap leach operation enhanced by the application of Rio Tinto Plc.’s technologies for recovering cathode copper from sulfide materials, negating the need for concentrator, tailings impoundment and smelter operations.
Lion Copper and Gold is advancing its flagship copper project at Yerington via an option agreement with Rio Tinto, a mining and metals giant with operations in 35 countries. It’s Nuton technologies offer the potential to economically unlock known low-grade copper sulfide resources, copper bearing waste and tailings and achieve higher recoveries on oxide and transitional material, allowing for a significantly increased copper production outcome.
Under a March, 2022, option agreement Rio Tinto has the right to earn a 65% interest in Lion’s copper assets in Mason Valley, Nevada. They consist of 34,494-acres of land, including the historic Yerington mine, greenfield MacArthur Project, Wassuk property, the Bear deposit and associated water rights.
In addition, Rio Tinto agreed to evaluate the potential deployment of its Nuton technologies at the site.
“My leadership style is to be open and transparent with all stakeholders as we advance our assets towards production,’’ Dischler said. “I believe this project can be a win-win for everyone involved and has the potential to be a significant supply of domestic copper for the global energy transition.’’