White Pine North – Copperwood (Ag, Cu)

Royalty and terms:	3% sliding-scale net smelter return (NSR) Base rate 3% NSR and increases by 0.01% NSR for every $0.01 increase in the copper price above $3.00 per pound. Option to purchase a 100% silver NSR royalty for future cash consideration of US$26 million on White Pine North and Copperwood projects
Operator:	Highland Copper Visit Highland Copper for more info
Primary Commodity:	Silver (Ag), Copper (Cu)
Location:	Michigan, USA
Reserves and resources:	Copperwood Project Proven and Probable Reserves of 801.8 M lbs of copper and 3.1 M oz of silver (25.4 M tonnes grading 1.43% Cu and 3.83 g/t Ag) Infered resources of 1.3 B lbs of copper and 5.5 M oz of silver (49.9 M tonnes grading 1.15 % Cu and 3.42 g/t Ag) – using a 1% Cu cut-off White Pine North Indicated Resources of 133.4 M tonnes grading an average of 1.07% Cu and 14.9 g/t Ag, containing 3.2 billion pounds of copper and 63.8 million ounces of silver using a cut-off grade of 0.9% Cu for the Parting Shale column only. Inferred Resourcesof 97.2 M tonnes grading an average of 1.03% Cu and 8.7 g/t Ag, containing 2.2 billion pounds of copper and 27.2 million ounces of silver using a cut-off grade of 0.9% Cu.
Status:	Development

The Copperwood Project is a development stage copper project fully permitted to move into the construction stage, and a preliminary economic assessment and mineral resource estimate for the White Pine North Project was completed in September 2019.

Source: Company disclosure and Osisko management estimates.