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The Carlota mine is located within the Globe-Miami mining district of Arizona, approximately 80 miles east of Phoenix Arizona and is a project that is permitted, fully financed and in construction. History: From the early 1900's to the late 1980's, Carlota saw some minor underground mining and underwent exploration and assessment activities by a series of owners.. In 1991 Cambior acquired the property and began to development studies towards feasibility and permitting. Cambior spent approximately $68 million and almost 14 years moving the Carlota project through permitting and feasibility studies in readiness for commencement of construction. Quadra acquired the Carlota project from Cambior Inc in late 2005. Following a project review that included infill drilling, engineering studies, detailed cost estimation and infrastructure development, Quadra produced an updated NI 43-101 technical report and received Board of Directors approval to proceed with development in November 2006. In early 2007, the net proceeds of a US$200 million term loan were secured to fund the construction and development of the Carlota Project and construction is proceeding on schedule with the first production of copper cathode expected in the fourth quarter of 2008. Estimated Operating Parameters: Mining is by conventional open pit methods, using drilling, blasting, loading and truck haulage of ore and waste. LME grade copper cathode will be produced onsite by the heap leach, SX-EW process. The electrowinning plant design has a capacity of 34,000 tonnes (75 million pounds) of copper cathode per year. The mine life is nine years plus two years of residual leach. Copper production projections from the Carlota mineable reserves are based on a yearly mining rate of 28 million tons of total material moved, which is the maximum material that can be moved annually under the Environmental Impact Statement (EIS) and Carlota Air Quality Permit.
Health and Saftey: There have been no Lost Time Accidents or Reportable Incidents at the Carlota project since the Company commenced construction in 2007. Carlota Outlook: Construction is budgeted over 18 months and targeted over 15 months and as the development of the project progresses, the company anticipates copper production to commence in the second half of 2008. Mineral Resource and Mineral Reserve Estimates: The Carlota resource, which adheres to the 2000 Classification of Mineral Resources and Mineral Reserves of the Canadian Institute of Mining, Metallurgy and Petroleum, and in accordance with the standards set out in NI 43-101, is classified as Measured, Indicated or Inferred based on the distance to the nearest copper sample and the number of copper composites. The qualified persons responsible for the mineral resource and reserves are Edward Wellman, P.Eng., Call & Nicholas, Inc., Enrico Laos, P.Eng, Timothy S. Oliver, P.Eng, Ronald L. Peterson, P.Eng. of M3 Engineering & Technology Corp., Guy Le Bel, Ing. Quadra Mining Ltd., Jerry T. Hanks, P.Eng., Michael Geddis, P.Geol. of Water Management Consultants, Scott Hardy, P.Eng, Michael M. Gustin, P.Geol. of Mine Development Associates, Michael Henderson, P.E., Vector Colorado LLC. Carlota Resources
Carlota Probable Mineral Reserves
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