# Gunnison Copper Project PEA Technical Report Reporting Post-Tax NPV8 of ~US$2.0 Billion and IRR of 22.5% is Now Filed Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead Original source: https://money.tmx.com/en/quote/GCU/news/4785010522472979/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b Publisher: tmx Original announcement: 2026-03-31T20:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Gunnison Copper Corp. - Ticker: GCU - Exchange: TSX - Region: Arizona, United States - Primary commodity: Copper - Secondary commodities: Zinc, Silver - Document categories: Resource update, Other - Extracted: 2026-08-21 00:37:56 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Gunnison Copper Corp. has filed an updated Preliminary Economic Assessment \(PEA\) for its Gunnison Copper Project, outlining robust economics with an after-tax NPV8 of approximately US$2.0 billion and an IRR of 22.5% at a base case copper price of $4.60/lb. The PEA is supported by a significant Mineral Resource Estimate, including 846.1 million short tons of Measured and Indicated resources at 0.33% total copper. The project envisions a 21-year mine life with low cash costs and high recoveries for oxide material, though primary sulfide recoveries are weaker. Reasoning: The updated Preliminary Economic Assessment \(PEA\) for the Gunnison Copper Project demonstrates robust economics with a high NPV and IRR, supported by a large Measured and Indicated resource base. While the PEA is preliminary and includes inferred resources, the project's low operating costs and long mine life are significant positives. - Positive factor: robust\_economics - Positive factor: large\_resource\_base - Positive factor: high\_m\_and\_i\_confidence - Positive factor: low\_cash\_costs - Positive factor: long\_mine\_life - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signoff - Negative factor: preliminary\_nature\_of\_pea - Negative factor: reliance\_on\_inferred\_resources Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 11 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report is explicitly stated as a 'National Instrument 43-101 technical report'. Evidence · text > National Instrument 43-101 technical report **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The Technical Report was prepared under the supervision of John Woodson, PE, SME-RM, who is a Qualified Person, and received contributions from other Qualified Persons. Evidence · text > John Woodson, PE, SME-RM, of M3 Engineering & Technology Corporation, Tucson, Arizona, who is a Qualified Person **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Mineral Resource Estimate includes a Measured category of 191.5 million short tons at 0.37% Total Cu. Evidence · table > Measured Context: 191.5 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Mineral Resource Estimate includes an Indicated category of 654.5 million short tons at 0.31% Total Cu. Evidence · table > Indicated Context: 654.5 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The PEA includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them. Evidence · text > The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Mineral Resources are reported within an optimized pit at a 0.05% total copper cut-off for oxide and transition material, and 0.1% cut-off for sulfide. Evidence · text > Mineral Resources are reported within an optimized pit at a 0.05% total copper cut-off for oxide and transition material, and 0.1% cut-off for sulfide. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document refers to an 'updated Preliminary Economic Assessment' and 'updated Mineral Resource Estimate'. Evidence · text > updated Preliminary Economic Assessment **Heap Leach Route** Polarity: neutral Story-specific tag Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: The project utilizes 'open-pit mining and heap leach SXEW processing'. Evidence · text > open-pit mining and heap leach SXEW processing **High Recovery** Polarity: positive Story-specific tag Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Oxide / Enriched Recoveries are reported at 90.2% CuTSol, which is exceptional for a heap leach process. Evidence · table > 90.2% Context: Oxide / Enriched Recoveries **Low Recovery** Polarity: negative Story-specific tag Definition: Recovery below the weak band for the commodity and processing route. Why it applies: Primary Sulfide Recoveries are reported at 59.9% CuSu, which is weak for a heap leach process. Evidence · table > 59.9% Context: Primary Sulfide Recoveries \(years 10 to 21\) **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document is a 'Preliminary Economic Assessment' technical report. Evidence · text > Preliminary Economic Assessment ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (11) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-0) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Resource Data - Category: measured - Tonnes: 174265000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 1423000000 - Contained Unit: lbs - Cutoff Grade: 0.05 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This is a large Measured resource with an economic grade, providing high confidence to the project. The cut-off grade is 0.05% for oxide/transition and 0.1% for sulfide. - Positive factor: high\_confidence\_category - Positive factor: large\_contained\_metal - Positive factor: economic\_grade Evidence · table > 191.5 Context: Measured ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-1) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Resource Data - Category: indicated - Tonnes: 595595000 - Grade: 0.31 - Grade Unit: % - Contained Metal: 3768000000 - Contained Unit: lbs - Cutoff Grade: 0.05 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This is a very large Indicated resource with an economic grade, providing strong confidence to the project. The cut-off grade is 0.05% for oxide/transition and 0.1% for sulfide. - Positive factor: high\_confidence\_category - Positive factor: large\_contained\_metal - Positive factor: economic\_grade Evidence · table > 654.5 Context: Indicated ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-2) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Resource Data - Category: inferred - Tonnes: 85540000 - Grade: 0.21 - Grade Unit: % - Contained Metal: 397000000 - Contained Unit: lbs - Cutoff Grade: 0.05 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This Inferred resource adds potential but is considered speculative geologically for economic considerations. The cut-off grade is 0.05% for oxide/transition and 0.1% for sulfide. - Positive factor: potential\_for\_growth - Negative factor: low\_confidence\_category Evidence · table > 94.0 Context: Inferred ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-3) Strong & Harris · copper #### Identity - Project: Strong & Harris - Commodity: copper - Ticker: GCU #### Resource Data - Category: inferred - Tonnes: 69223700 - Grade: 0.49 - Grade Unit: % - Contained Metal: 740000000 - Contained Unit: lbs - Cutoff Grade: 0.07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This Inferred copper resource from a satellite deposit adds to the overall potential but is speculative. The cut-off grade is 0.07% Cu. - Positive factor: potential\_for\_growth - Negative factor: low\_confidence\_category Evidence · table > 76.070 Context: Inferred ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-4) Strong & Harris · copper #### Identity - Project: Strong & Harris - Commodity: copper - Ticker: GCU #### Resource Data - Category: inferred - Tonnes: 69223700 - Grade: 0.32 - Grade Unit: % - Contained Metal: 482691000 - Contained Unit: lbs - Cutoff Grade: 0.07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This Inferred copper oxide resource from a satellite deposit adds to the overall potential but is speculative. The cut-off grade is 0.07% Cu. - Positive factor: potential\_for\_growth - Negative factor: low\_confidence\_category Evidence · table > 0.32 Context: 76.070 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-5) Strong & Harris · zinc #### Identity - Project: Strong & Harris - Commodity: zinc - Ticker: GCU #### Resource Data - Category: inferred - Tonnes: 69223700 - Grade: 0.56 - Grade Unit: % - Contained Metal: 855707000 - Contained Unit: lbs - Cutoff Grade: 0.07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This Inferred zinc resource is a byproduct from a satellite deposit, adding minor potential but is speculative and low grade for zinc. The cut-off grade is 0.07% Cu. - Positive factor: byproduct\_potential - Negative factor: low\_confidence\_category - Negative factor: low\_grade\_for\_commodity Evidence · table > 0.56 Context: 76.070 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-6) Strong & Harris · silver #### Identity - Project: Strong & Harris - Commodity: silver - Ticker: GCU #### Resource Data - Category: inferred - Tonnes: 69223700 - Grade: 0.12 - Grade Unit: oz/ton - Contained Metal: 8971000 - Contained Unit: oz - Cutoff Grade: 0.07 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: This Inferred silver resource is a byproduct from a satellite deposit, adding minor potential but is speculative and low grade for silver. The cut-off grade is 0.07% Cu. - Positive factor: byproduct\_potential - Negative factor: low\_confidence\_category - Negative factor: low\_grade\_for\_commodity Evidence · table > 0.12 Context: 76.070 ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-7) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The overall copper recovery of 68% is strong for a heap leach SX-EW process, based on the PEA. - Positive factor: strong\_recovery\_for\_route Evidence · table > 68% Context: Recoveries ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-8) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The 90.2% recovery for oxide/enriched material is exceptional for a heap leach SX-EW process, based on the PEA. - Positive factor: exceptional\_recovery\_for\_route Evidence · table > 90.2% Context: Oxide / Enriched Recoveries ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-9) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The 59.9% recovery for primary sulfide material is weak for a heap leach SX-EW process, indicating potential challenges for this ore type, based on the PEA. - Negative factor: weak\_recovery\_for\_route Evidence · table > 59.9% Context: Primary Sulfide Recoveries \(years 10 to 21\) ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--a055dd5f-04e8-40d5-8b1a-073d87d65ead#fact-resource-facts-10) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Ticker: GCU #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The PEA demonstrates robust economics with a high NPV and IRR, short payback, low operating costs, and a long mine life, making the project highly attractive, though it is preliminary. - Positive factor: high\_npv - Positive factor: high\_irr - Positive factor: short\_payback - Positive factor: low\_cash\_costs - Positive factor: long\_mine\_life - Positive factor: high\_annual\_production - Negative factor: preliminary\_nature - Negative factor: reliance\_on\_inferred\_resources Evidence · table > 1,959 Context: Net Present Value @ 8% \(after-tax\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.