Ivanhoe Electric's Preliminary Feasibility Study for the Santa Cruz Copper Project in Arizona Defines a High-Quality Underground Mining Operation with Strong Economics
Original announcement by tmx on
- Company
- Ivanhoe Electric Inc.
- Ticker
- IE
- Exchange
- TSX
- Region
- Arizona
- Primary commodity
- Copper
- Secondary commodities
- Gold, Silver
- Document categories
- Resource update, Production, Metallurgy
- Extracted
- 2026-08-21 08:01:30 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Ivanhoe Electric's Preliminary Feasibility Study for the Santa Cruz Copper Project in Arizona outlines a high-quality underground mining operation with strong economics, including an after-tax NPV8% of $1.9 billion and an IRR of 24.0% at current COMEX copper prices. The study defines probable mineral reserves of 136 million tonnes at 1.08% copper, supporting a 23-year mine life with a conventional heap leach process yielding 92.2% copper recovery. With low initial capital of $1.24 billion and first quartile C1 cash costs of $1.32 per pound of copper, the project targets initial construction in H1 2026 and first copper cathode production in 2028.
Reasoning: The Preliminary Feasibility Study for the Santa Cruz Copper Project demonstrates robust economics with a high after-tax NPV and IRR, supported by significant probable reserves, high copper recoveries via heap leach, and low operating costs. The project benefits from a streamlined permitting process due to its private land location and is backed by a highly engineered study with multiple Qualified Persons.
Positive factors
- Strong economics
- Low capital intensity
- Low operating costs
- High copper recoveries
- Significant probable reserves
- Streamlined permitting
- QP/CP Signed
- NI 43-101 Compliant
- S-K 1300 Compliant
- PFS-Supporting
- Maiden Reserve
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 40
Classification and evidence
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The document is a Preliminary Feasibility Study, which is a key stage in project development.
Evidence · text
“Preliminary Feasibility Study”
QP/CP Signedpositive
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 document explicitly lists multiple Qualified Persons responsible for preparing the scientific and technical information.
Evidence · text
“Qualified Persons”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The document states that an NI 43-101 Technical Report will be co-filed in Canada.
Evidence · text
“The NI 43-101 Technical Report co-filed in Canada”
S-K 1300 Compliantpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document states that the study was prepared in accordance with Subpart 1300 and Item 601 of Regulation S-K.
Evidence · text
“prepared in accordance with Subpart 1300 and Item 601 of Regulation S-K”
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The study defines Probable Mineral Reserves of 136 million tonnes.
Evidence · text
“Probable Mineral Reserves of 136 million tonnes”
Maiden Reserveneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The study includes an 'initial Mineral Reserve Estimate' for the project.
Evidence · text
“The Study includes an initial Mineral Reserve Estimate for the Santa Cruz Copper Project”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: The copper recovery of 92.2% over the life of mine for a heap leach operation is exceptional based on rubrics.
Evidence · text
“high copper recoveries of 92.2% over the life of mine”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: The processing method is described as a 'conventional chloride-assisted on/off heap leaching flowsheet'.
Evidence · text
“conventional chloride-assisted on/off heap leaching flowsheet”
Underground Miningneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The study defines a 'High-Quality Underground Mining Operation'.
Evidence · text
“High-Quality Underground Mining Operation”
Low Capital Intensitypositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The initial capital of $1.24 billion is highlighted as 'Low Initial Capital'.
Evidence · text
“Low Initial Capital of $1.24 Billion”
Low Operating Costspositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The project reports 'First Quartile Unit Cash Costs of $1.32 Per Pound of Copper'.
Evidence · text
“First Quartile Unit Cash Costs of $1.32 Per Pound of Copper”
Permitting Progresspositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The document details the status and timeline for multiple permits, indicating active progress.
Evidence · text
“Private Land Enables Streamlined Permitting Process”
Extracted facts
Stored fact records: 40. Some facts used in scoring do not have a stored record.
Resource Estimates (40)
probableSanta Cruz Copper Project · copperTonnes: 132061000Grade: 1.08Grade Unit: %Contained Metal: 1430000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- probable
- Tonnes
- 132061000
- Grade
- 1.08
- Grade Unit
- %
- Contained Metal
- 1430000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Probable reserves of 132.06 million tonnes at 1.08% copper for the Santa Cruz deposit represent a significant, high-grade, and well-defined portion of the project's economic foundation, reported under S-K 1300.
Positive factors
- High-grade
- Probable Reserve
- S-K 1300 Compliant
- QP/CP Signed
- Maiden Reserve
Evidence · table
“1.08”
Context: 132,061
probableSanta Cruz Copper Project · copperTonnes: 4112000Grade: 1.03Grade Unit: %Contained Metal: 42000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- probable
- Tonnes
- 4112000
- Grade
- 1.03
- Grade Unit
- %
- Contained Metal
- 42000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Probable reserves of 4.11 million tonnes at 1.03% copper for the East Ridge deposit contribute to the overall project economics, reported under S-K 1300.
Positive factors
- High-grade
- Probable Reserve
- S-K 1300 Compliant
- QP/CP Signed
- Maiden Reserve
Evidence · table
“1.03”
Context: 4,112
probableSanta Cruz Copper Project · copperTonnes: 136173000Grade: 1.08Grade Unit: %Contained Metal: 1472000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- probable
- Tonnes
- 136173000
- Grade
- 1.08
- Grade Unit
- %
- Contained Metal
- 1472000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total probable reserves of 136.17 million tonnes at 1.08% copper, containing 1.47 million tonnes of copper, form the basis for the project's 23-year mine life and strong economics.
Positive factors
- High-grade
- Probable Reserve
- S-K 1300 Compliant
- QP/CP Signed
- Maiden Reserve
Evidence · table
“1.08”
Context: 136,173
indicatedSanta Cruz Copper Project · copperTonnes: 178451000Grade: 0.8Grade Unit: %Contained Metal: 1435000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 178451000
- Grade
- 0.8
- Grade Unit
- %
- Contained Metal
- 1435000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.80”
Context: 178,451
indicatedSanta Cruz Copper Project · goldTonnes: 178451000Grade: 0.024Grade Unit: g/tContained Metal: 139000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 178451000
- Grade
- 0.024
- Grade Unit
- g/t
- Contained Metal
- 139000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources for gold at 0.024 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.024”
Context: 178,451
indicatedSanta Cruz Copper Project · silverTonnes: 178451000Grade: 1.43Grade Unit: g/tContained Metal: 8211000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 178451000
- Grade
- 1.43
- Grade Unit
- g/t
- Contained Metal
- 8211000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources for silver at 1.43 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.43”
Context: 178,451
inferredSanta Cruz Copper Project · copperTonnes: 31998000Grade: 0.73Grade Unit: %Contained Metal: 232000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 31998000
- Grade
- 0.73
- Grade Unit
- %
- Contained Metal
- 232000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.73”
Context: 31,998
inferredSanta Cruz Copper Project · goldTonnes: 31998000Grade: 0.021Grade Unit: g/tContained Metal: 21000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 31998000
- Grade
- 0.021
- Grade Unit
- g/t
- Contained Metal
- 21000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for gold at 0.021 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.021”
Context: 31,998
inferredSanta Cruz Copper Project · silverTonnes: 31998000Grade: 1.78Grade Unit: g/tContained Metal: 1832000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 31998000
- Grade
- 1.78
- Grade Unit
- g/t
- Contained Metal
- 1832000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for silver at 1.78 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.78”
Context: 31,998
indicatedSanta Cruz Copper Project · copperTonnes: 4407000Grade: 0.94Grade Unit: %Contained Metal: 41000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 4407000
- Grade
- 0.94
- Grade Unit
- %
- Contained Metal
- 41000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 4.40 million tonnes at 0.94% copper for the East Ridge deposit contribute to the project's overall resource base, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.94”
Context: 4,407
indicatedSanta Cruz Copper Project · goldTonnes: 4407000Grade: 0.015Grade Unit: g/tContained Metal: 2000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 4407000
- Grade
- 0.015
- Grade Unit
- g/t
- Contained Metal
- 2000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources for gold at 0.015 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.015”
Context: 4,407
indicatedSanta Cruz Copper Project · silverTonnes: 4407000Grade: 0.71Grade Unit: g/tContained Metal: 101000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 4407000
- Grade
- 0.71
- Grade Unit
- g/t
- Contained Metal
- 101000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources for silver at 0.71 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.71”
Context: 4,407
inferredSanta Cruz Copper Project · copperTonnes: 48676000Grade: 0.89Grade Unit: %Contained Metal: 436000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 48676000
- Grade
- 0.89
- Grade Unit
- %
- Contained Metal
- 436000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 48.67 million tonnes at 0.89% copper for the East Ridge deposit represent future potential, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.89”
Context: 48,676
inferredSanta Cruz Copper Project · goldTonnes: 48676000Grade: 0.006Grade Unit: g/tContained Metal: 9000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 48676000
- Grade
- 0.006
- Grade Unit
- g/t
- Contained Metal
- 9000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for gold at 0.006 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.006”
Context: 48,676
inferredSanta Cruz Copper Project · silverTonnes: 48676000Grade: 0.4Grade Unit: g/tContained Metal: 623000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 48676000
- Grade
- 0.4
- Grade Unit
- g/t
- Contained Metal
- 623000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for silver at 0.40 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.40”
Context: 48,676
inferredSanta Cruz Copper Project · copperTonnes: 341345000Grade: 0.78Grade Unit: %Contained Metal: 2664000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 341345000
- Grade
- 0.78
- Grade Unit
- %
- Contained Metal
- 2664000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 341.34 million tonnes at 0.78% copper for the Texaco deposit represent a large future potential, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.78”
Context: 341,345
inferredSanta Cruz Copper Project · goldTonnes: 341345000Grade: 0.028Grade Unit: g/tContained Metal: 302000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 341345000
- Grade
- 0.028
- Grade Unit
- g/t
- Contained Metal
- 302000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for gold at 0.028 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.028”
Context: 341,345
inferredSanta Cruz Copper Project · silverTonnes: 341345000Grade: 0.81Grade Unit: g/tContained Metal: 8850000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 341345000
- Grade
- 0.81
- Grade Unit
- g/t
- Contained Metal
- 8850000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources for silver at 0.81 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.81”
Context: 341,345
indicatedSanta Cruz Copper Project · copperTonnes: 182859000Grade: 0.81Grade Unit: %Contained Metal: 1476000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 182859000
- Grade
- 0.81
- Grade Unit
- %
- Contained Metal
- 1476000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total indicated resources of 182.85 million tonnes at 0.81% copper provide a substantial base for future expansion, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.81”
Context: 182,859
indicatedSanta Cruz Copper Project · goldTonnes: 182859000Grade: 0.024Grade Unit: g/tContained Metal: 141000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 182859000
- Grade
- 0.024
- Grade Unit
- g/t
- Contained Metal
- 141000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total indicated resources for gold at 0.024 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.024”
Context: 182,859
indicatedSanta Cruz Copper Project · silverTonnes: 182859000Grade: 1.41Grade Unit: g/tContained Metal: 8312000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 182859000
- Grade
- 1.41
- Grade Unit
- g/t
- Contained Metal
- 8312000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total indicated resources for silver at 1.41 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.41”
Context: 182,859
inferredSanta Cruz Copper Project · copperTonnes: 422020000Grade: 0.79Grade Unit: %Contained Metal: 3332000Contained Unit: tView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 422020000
- Grade
- 0.79
- Grade Unit
- %
- Contained Metal
- 3332000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total inferred resources of 422.02 million tonnes at 0.79% copper represent a large future potential for the project, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.79”
Context: 422,020
inferredSanta Cruz Copper Project · goldTonnes: 422020000Grade: 0.025Grade Unit: g/tContained Metal: 333000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- gold
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 422020000
- Grade
- 0.025
- Grade Unit
- g/t
- Contained Metal
- 333000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total inferred resources for gold at 0.025 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.025”
Context: 422,020
inferredSanta Cruz Copper Project · silverTonnes: 422020000Grade: 0.83Grade Unit: g/tContained Metal: 11304000Contained Unit: ozView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- silver
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 422020000
- Grade
- 0.83
- Grade Unit
- g/t
- Contained Metal
- 11304000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Total inferred resources for silver at 0.83 g/t are very low, indicating it is a minor byproduct, reported under S-K 1300.
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.83”
Context: 422,020
Fact 25Santa Cruz Copper Project · copperView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Commodity
- copper
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: An all-in-sustaining cost of $1.99 per pound of copper for the first 15 years is very competitive, indicating strong early operational efficiency.
Positive factors
- Low operating costs
Evidence · table
“1.99”
Context: All-in-sustaining Cost
Fact 26Santa Cruz Copper ProjectView all detailsHide details
Identity
- Project
- Santa Cruz Copper Project
- Region
- usa_az
- Reported Region
- Arizona
- Ticker
- IE
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Detailed engineering is required for the Recycled Water Discharge permit application, with a Q1 2027 submittal timeline.
Positive factors
- Permitting Progress
Evidence · text
“Arizona Department of Environmental Quality Recycled Water Discharge permit Detailed engineering required for application, if necessary Q1 2027”
indicatedgoldTonnes: 178451000Grade: 0.024Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 178451000
- Grade
- 0.024
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.024”
Context: 178,451
indicatedsilverTonnes: 178451000Grade: 1.43Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 178451000
- Grade
- 1.43
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.43”
Context: 178,451
inferredgoldTonnes: 31998000Grade: 0.021Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 31998000
- Grade
- 0.021
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.021”
Context: 31,998
inferredsilverTonnes: 31998000Grade: 1.78Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 31998000
- Grade
- 1.78
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.78”
Context: 31,998
indicatedgoldTonnes: 4407000Grade: 0.015Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 4407000
- Grade
- 0.015
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.015”
Context: 4,407
indicatedsilverTonnes: 4407000Grade: 0.71Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 4407000
- Grade
- 0.71
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.71”
Context: 4,407
inferredgoldTonnes: 48676000Grade: 0.006Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 48676000
- Grade
- 0.006
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.006”
Context: 48,676
inferredsilverTonnes: 48676000Grade: 0.4Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 48676000
- Grade
- 0.4
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.40”
Context: 48,676
inferredgoldTonnes: 341345000Grade: 0.028Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 341345000
- Grade
- 0.028
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.028”
Context: 341,345
inferredsilverTonnes: 341345000Grade: 0.81Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 341345000
- Grade
- 0.81
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.81”
Context: 341,345
indicatedgoldTonnes: 182859000Grade: 0.024Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 182859000
- Grade
- 0.024
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.024”
Context: 182,859
indicatedsilverTonnes: 182859000Grade: 1.41Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- indicated
- Tonnes
- 182859000
- Grade
- 1.41
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Indicated resources of 178.45 million tonnes at 0.80% copper for the Santa Cruz deposit provide a substantial base for future expansion, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Indicated Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“1.41”
Context: 182,859
inferredgoldTonnes: 422020000Grade: 0.025Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 422020000
- Grade
- 0.025
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.025”
Context: 422,020
inferredsilverTonnes: 422020000Grade: 0.83Grade Unit: grams per tonneView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- IE
Resource Data
- Category
- inferred
- Tonnes
- 422020000
- Grade
- 0.83
- Grade Unit
- grams per tonne
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-23T00:00:00.000Z
Reasoning: Inferred resources of 31.99 million tonnes at 0.73% copper for the Santa Cruz deposit represent future potential, reported under S-K 1300. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Inferred Resource
- S-K 1300 Compliant
- QP/CP Signed
Evidence · table
“0.83”
Context: 422,020
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.