Abacus Mining and Exploration Corp.

Abacus is a mineral exploration and mine development company focused on Copper and Gold in the America’s, with an exploration focus on Nevada.

The Company has a 20% ownership interest in the advanced stage Ajax copper-gold project located near Kamloops, B.C. The project is managed by KGHM Polska Miedź S.A., who hold the remaining 80%. KGHM have recently begun the process of re-engaging the project stakeholders geared toward potentially resubmitting the environmental application for the project.

Abacus also owns options and leases on the Willow copper-molybdenum property in the Yerington copper camp, near Reno, Nevada. Recent drilling intersected a key intrusive rock unit that hosts all known porphyry Cu-Mo deposits at Yerington and represents a significant new discovery. The target is large and robust, and it remains essentially untested by drilling.

The Company added a new gold property in October of 2019 in the prolific Battle Mountain trend of Nevada. The Jersey Valley property lies in close proximity to the Phoenix/Fortitude Mines (~14 Moz Au past production and a proposed mine life to 2063) and the Cove/McCoy Mine (~4 Moz past production). The property has easy road access, and a 15 MW geothermal power plant lies on the edge of the claim group.

The Company is led by a highly experienced management and technical team, with significant experience in copper exploration and development, supported by a highly regarded board of directors with substantial M&A and capital market experience.

Ajax Project Summary
Supersedes Feasibility Study of January 6, 2012

  • Total proven and probable mineral reserves of 2.7 bil lbs Cu, 2.6 mil oz Au and 5.3 mil oz Ag at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag.*
  • 18 year mine life at avg processing rate of 65,000 tpd; overall stripping ratio of 2.65:1
  • Avg annual production of Cu and Au in concentrate of 58,000t Cu and 125,000 oz Au
  • Initial capital expenditures of $1.307 billion
  • Pre-tax NPV (8%) = $429.4 M Pre-tax NPV (5%) = $872.5 M
  • Pre-Tax IRR 13.4%; payback (years) 6.5
*Based on LOM metal prices of Cu: US$3.21/lb, Au: US$1,200/oz, Ag: US$17/oz

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