July 13, 2010 / 12:29 PM / 8 years ago

UPDATE 1-Capstone eyes potential at Kutcho project

* Indicates that project is moving to pre-feasibility stage

* Completes preliminary economic assessment of Kutcho

TORONTO, July 13 (Reuters) - Capstone Mining Corp (CS.TO) said a preliminary assessment of its Kutcho project in northwestern British Columbia indicates the mine could eventually produce, on average, 35.5 million pounds of copper and 39.8 million pounds of zinc annually.

The junior miner said the mine would also produce gold and silver as by-products over its estimated 12-year life.

“Given the scarcity of high-grade North American copper deposits, Capstone is pleased that the robust economics of Kutcho project support advancing to the pre-feasibility stage and potentially into production,” Chief Executive Darren Pylot said in a statement.

The preliminary study indicates Kutcho could produce copper at a cost of $1.14 per pound, after by-product credits.

Capstone said opportunities for further optimization at the site have been identified and will be addressed in a pre-feasibility study. (Reporting by Euan Rocha; editing by John Wallace)

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