- Taseko Talks
January 8, 2019
January 8, 2019, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB) (“Taseko” or the “Company”) is pleased to announce that following receipt of all necessary state and federal operating permits, wellfield operations were commenced and injection and recovery systems have now been fully ramped up at its Florence Copper Project in central Arizona. Following an initial leaching period, leach solutions are flowing at expected levels and copper has been detected in solutions recovered from process sample wells.
Russell Hallbauer, President and CEO of Taseko commented, “Our preliminary tracer tests of the wellfield in the third quarter 2018 exhibited robust percolation rates through the ore body. These results were as good as, and in some cases better than, modeled in the 2017 technical study.The rate at which the dissolved copper is increasing in the leach solution further confirms historical test work and technical data.”
“We have always taken a disciplined and measured approach with all of our capital projects. We perform the necessary work to ensure our projects are technically sound, that we understand our capital commitments and that the environment is protected. While it has taken us some time to get to this point with Florence, the additional time taken will ensure that the project generates strong returns for our shareholders and protects the environment to the highest standards for the local community,” added Mr. Hallbauer.
“With operating costs of US$1.10 per pound of copper, an extremely low capital cost intensity of US$5,200 per tonne of copper capacity and a pre-tax net present value of US$920 million, Florence Copper will bolster the long-term financial returns of the Company, and we are excited about the next step in this process,” concluded Mr. Hallbauer.
The content of this release was reviewed and approved by Dan Johnson PE, Vice-President/General Manager for Florence Copper, Inc., and a Qualified Person under National Instrument 43-101.
The NI 43-101 technical report is available on www.sedar.com or the Company’s website at www.tasekomines.com.
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward looking statements”) that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Any statements that express, or involve discussions as to, expectations, believes, plans, objectives, assumptions or future events or performance that are not historical facts, are forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com, including the “Risk Factors” included in our Annual Information Form.