Crown Mining Corp is focused on advancing its Moonlight-Superior Copper Project in north-east California to the production stage.
Moonlight-Superior Copper Project
Crown Mining Corp is a junior exploration and development company listed on the TSX Venture Exchange (symbol: CWM). Crown is focused on advancing its Moonlight-Superior Copper Project in Plumas County, California to the production stage.
The Moonlight-Superior Copper Project has a current NI-43-101 resource of over 2 billion pounds of copper with gold and silver credits. The property hosts 4 known copper deposits in a quartz monzonite intrusion known as the Lights Creek Stock that measures 12 square miles in area.
Copper was discovered at Lights Creek in 1883, and it was mined on a large scale from 1915 until 1930. Placer Amex explored the property from 1960-1972, drilling over 400 holes and estimating a resource (non NI:43-101 compliant) of over 4 billion pounds of copper.
Crown had a Preliminary Economic Assessment prepared on the Moonlight deposit in early 2018 that demonstrated positive economics at $3 copper. Crown is now working on identifying a starter pit to improve the payback of the project. The oxide cap at Moonlight is presently treated as waste in our PEA and a 50 hole drill program is needed to delineate the oxide resource for inclusion in the PEA. Placer Amex calculated oxide resource at Moonlight of 12 million tons @ .54% in 1968. Drill permits have been applied for.
There are 2 other potential starter pits on the property: a high grade portion of the the 54 million tons @ .41% at Superior, and the 19 million tons @ .63 at Engels that Placer Amex identified in 1967. Drill programs are being prepared for both of these targets.
Crown estimates that the permitting process should take approximately 3 years once the plan has been initiated.