# 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-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9 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: Cochise Mining District, Arizona, United States - Primary commodity: Copper - Secondary commodities: Zinc, Silver - Document categories: Resource update, Metallurgy - Extracted: 2026-09-12 03:51:45 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Gunnison Copper Corp. has filed a National Instrument 43-101 compliant Preliminary Economic Assessment \(PEA\) for its 100%-owned Gunnison Copper Project in Arizona. The PEA outlines robust economics, including an after-tax NPV8 of approximately US$2.0 billion and an internal rate of return of 22.5% at a base case copper price of $4.60/lb. The project is expected to produce 3.2 billion lbs of copper over a 21-year mine life using open-pit mining and heap leach SXEW processing, supported by a significant Measured and Indicated mineral resource estimate. Reasoning: The document reports a Preliminary Economic Assessment \(PEA\) for the Gunnison Copper Project, outlining robust economics with a post-tax NPV8 of ~US$2.0 billion and IRR of 22.5%. The PEA is supported by a significant Measured and Indicated mineral resource and high recoveries for oxide/enriched material. However, the PEA is preliminary and includes inferred resources, and primary sulfide recovery is weak for the chosen processing route. - Positive factor: Robust PEA economics with high NPV and IRR at base case copper price - Positive factor: Significant Measured and Indicated resource base for the main project - Positive factor: High copper recovery for oxide/enriched material via heap leach SXEW - Positive factor: NI 43-101 compliant technical report with multiple Qualified Persons - Positive factor: Long mine life of 21 years with substantial copper production - Negative factor: PEA is preliminary in nature and includes inferred mineral resources - Negative factor: Primary sulfide copper recovery is at the lower end of expectations for heap leach - Negative factor: Resource cut-off grades vary by material type within the combined resource, adding complexity 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, and received contributions from several other Qualified Persons. Evidence · text > The Technical Report was prepared under the supervision of John Woodson, PE, SME-RM, of M3 Engineering & Technology Corporation, Tucson, Arizona, who is a Qualified Person that is independent of the Company. The Technical Report also received contributions from the following additional Qualified Persons, who are also independent of the Company **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The mineral resources are reported with specific cut-off grades for different material types \(0.05% total copper for oxide and transition, 0.1% for sulfide\) and 0.07% Cu for Strong & Harris. 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 **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 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 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 resource estimate includes an Inferred category of 94.0 million short tons at 0.21% Total Cu for the main project and 76.070 million short tons for Strong & Harris. Evidence · table > Inferred Context: 94.0 **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: The project utilizes heap leach SXEW processing to produce copper cathode. Evidence · text > heap leach SXEW processing **High Recovery** Polarity: positive 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 copper heap leach. Evidence · table > 90.2% Context: Oxide / Enriched Recoveries **Low Recovery** Polarity: negative 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 copper heap leach. Evidence · table > 59.9% Context: Primary Sulfide Recoveries \(years 10 to 21\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 3 distinct composites were tested ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-0) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:d3fc86c4dc61006d898c - Deposit or zone: Combined Oxide, Transitional, and Sulfide Resources #### Resource Data - Category: measured - Tonnes: 173700000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 1423 - Contained Unit: millions lbs - Cutoff Grade: 0.05 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Measured resource for the Gunnison Copper Project represents a high-confidence estimate with substantial tonnage and contained copper, contributing positively to the project's overall viability. The estimate is NI 43-101 compliant and QP signed. - Positive factor: High confidence Measured resource category - Positive factor: Significant tonnage and contained copper - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Cut-off grade varies by material type \(0.05% for oxide/transition, 0.1% for sulfide\) within the combined resource Evidence · table > 191.5 Context: Measured #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-1) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:ee184eda78ba226b5cd4 - Deposit or zone: Combined Oxide, Transitional, and Sulfide Resources #### Resource Data - Category: indicated - Tonnes: 593800000 - Grade: 0.31 - Grade Unit: % - Contained Metal: 3768 - Contained Unit: millions lbs - Cutoff Grade: 0.05 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Indicated resource for the Gunnison Copper Project adds substantial tonnage and contained copper, supporting the project's scale and geological confidence. The estimate adheres to NI 43-101 standards and is QP signed. - Positive factor: Large Indicated resource base, providing geological confidence - Positive factor: Significant contained copper contributing to project scale - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Cut-off grade varies by material type \(0.05% for oxide/transition, 0.1% for sulfide\) within the combined resource Evidence · table > 654.5 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-2) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:89081fbc94b45221d5d7 - Deposit or zone: Combined Oxide, Transitional, and Sulfide Resources #### Resource Data - Category: indicated - Tonnes: 767600000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 5190 - Contained Unit: millions lbs - Cutoff Grade: 0.05 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The combined Measured and Indicated resource for the Gunnison Copper Project is very large, providing a strong foundation for the PEA's robust economics. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Very large Measured and Indicated resource base, providing high geological confidence - Positive factor: Substantial contained copper, underpinning the project's scale and economics - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Cut-off grade varies by material type \(0.05% for oxide/transition, 0.1% for sulfide\) within the combined resource Evidence · table > 846.1 Context: Measured + Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-3) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:10260f4876f221d019ae - Deposit or zone: Combined Oxide, Transitional, and Sulfide Resources #### Resource Data - Category: inferred - Tonnes: 85270000 - Grade: 0.21 - Grade Unit: % - Contained Metal: 397 - Contained Unit: millions lbs - Cutoff Grade: 0.05 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Inferred resource provides additional tonnage and contained copper but is speculative and requires further drilling to upgrade confidence. Its inclusion in the PEA is noted with caution. - Positive factor: Adds to the overall resource base and potential for future conversion - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Cut-off grade varies by material type \(0.05% for oxide/transition, 0.1% for sulfide\) within the combined resource Evidence · table > 94.0 Context: Inferred #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-4) Strong & Harris · copper #### Identity - Project: Strong & Harris - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:1cad875a1f568bc7178a - Deposit or zone: Strong & Harris Mineral Resources #### Resource Data - Category: inferred - Tonnes: 68990000 - Grade: 0.49 - Grade Unit: % - Contained Metal: 740 - Contained Unit: millions lbs - Cutoff Grade: 0.07 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Inferred resource for Strong & Harris provides additional copper potential, with a higher grade than the main Gunnison Inferred resource, but remains speculative due to its category. - Positive factor: Adds to the overall resource base and potential for future satellite deposits - Positive factor: Higher copper grade than the main Gunnison Inferred resource - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred category is speculative and cannot support economic studies alone Evidence · table > 76.070 Context: Inferred #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-5) Strong & Harris · copper #### Identity - Project: Strong & Harris - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:1cad875a1f568bc7178a - Deposit or zone: Strong & Harris Mineral Resources #### Resource Data - Category: inferred - Tonnes: 68990000 - Grade: 0.32 - Grade Unit: % - Contained Metal: 482.691 - Contained Unit: millions lbs - Cutoff Grade: 0.07 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Inferred copper oxide resource at Strong & Harris highlights a potentially leachable component, but its speculative category limits its current economic impact. - Positive factor: Identifies copper oxide component within the Strong & Harris resource, potentially amenable to heap leach - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred category is speculative and cannot support economic studies alone Evidence · table > 0.32 Context: 76.070 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-6) Strong & Harris · zinc #### Identity - Project: Strong & Harris - Commodity: zinc - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:1cad875a1f568bc7178a - Deposit or zone: Strong & Harris Mineral Resources #### Resource Data - Category: inferred - Tonnes: 68990000 - Grade: 0.56 - Grade Unit: % - Contained Metal: 855.707 - Contained Unit: millions lbs - Cutoff Grade: 0.07 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Inferred zinc resource at Strong & Harris indicates polymetallic potential, but its speculative category and secondary nature to copper limit its immediate impact. - Positive factor: Identifies a zinc component within the Strong & Harris resource, adding polymetallic potential - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Zinc is a secondary commodity in a copper-focused project Evidence · table > 0.56 Context: 76.070 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-resource-facts-7) Strong & Harris · silver #### Identity - Project: Strong & Harris - Commodity: silver - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: John Woodson, Jeffrey Bickel, Jacob Richey, Tom Ryan, Dr. Terence P. McNulty, Dr. Abyl Sydykov, R. Douglas Bartlett, Tyler Peck - Resource group id: resource:1cad875a1f568bc7178a - Deposit or zone: Strong & Harris Mineral Resources #### Resource Data - Category: inferred - Tonnes: 68990000 - Contained Metal: 8.971 - Contained Unit: millions oz - Cutoff Grade: 0.07 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-01-23 #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The Inferred silver resource at Strong & Harris indicates polymetallic potential, but its speculative category and secondary nature to copper limit its immediate impact. - Positive factor: Identifies a silver component within the Strong & Harris resource, adding polymetallic potential - Positive factor: NI 43-101 compliant and QP signed - Negative factor: Inferred category is speculative and cannot support economic studies alone - Negative factor: Silver is a secondary commodity in a copper-focused project Evidence · table > 0.12 Context: 76.070 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## Metallurgical Results (3) ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-metallurgical-facts-8) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach SXEW - Sample: mineralized material placed on Heap #### Recovery - Recovery: 68 % - Recovery Basis: actual\_test - Head Grade: 0.43 - Head Grade Unit: % CuT #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The overall copper recovery of 68% for the heap leach SXEW process is strong, contributing positively to the project's economics. - Positive factor: Strong overall copper recovery for a heap leach operation - Positive factor: Supports the economic viability outlined in the PEA Evidence · table > 68% Context: Recoveries #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-metallurgical-facts-9) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach SXEW - Sample: Oxide / Enriched #### Recovery - Recovery: 90.2 % - Recovery Basis: actual\_test #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The 90.2% copper recovery for oxide/enriched material is exceptional for a heap leach SXEW process, indicating very favorable metallurgical characteristics for this ore type. - Positive factor: Exceptional copper recovery for oxide/enriched material via heap leach SXEW - Positive factor: Significantly de-risks the processing of a major ore component Evidence · table > 90.2% Context: Oxide / Enriched Recoveries #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 90.2% is at or above the exceptional band \(80%\) ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/gunnison-copper-project-pea-technical-report-reporting-post-tax-npv8-of-us-2-0-b--e13ce9b8-51c5-448f-8da5-0fb8ff8bcee9#fact-metallurgical-facts-10) Gunnison Copper Project · copper #### Identity - Project: Gunnison Copper Project - Commodity: copper - Region: usa\_az - Reported Region: Cochise Mining District, Arizona, United States - Ticker: GCU #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach SXEW - Sample: Primary Sulfide \(years 10 to 21\) #### Recovery - Recovery: 59.9 % - Recovery Basis: actual\_test #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-31T00:00:00.000Z Reasoning: The 59.9% copper recovery for primary sulfide material is weak for a heap leach SXEW process, suggesting challenges in extracting copper from this ore type and potentially impacting later mine life economics. - Negative factor: Weak copper recovery for primary sulfide material via heap leach SXEW - Negative factor: Indicates potential for lower metal output from this ore type later in mine life Evidence · table > 59.9% Context: Primary Sulfide Recoveries \(years 10 to 21\) #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ## 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.