Peru Copper hires SNC-Lavalin to conduct prefeasibility study
18 October 2005Peru Copper Inc. (TSX:PCR, PCR.WT / AMEX:CUP,
CUP.WS) ("Peru Copper" or the "Company") is pleased to announce that it has
commissioned SNC-Lavalin of Montreal, Quebec, Canada to conduct a
Prefeasibility Study for its Toromocho Project in Peru.
Charles G. Preble, Company CEO and President, said "Our hiring of
SNC-Lavalin represents another important step in the development of our
world-class Toromocho copper project. We have been working on the project on a
fast track basis and we are excited about hiring an independent firm to
complete a Prefeasibility Study which will include data from several other
already completed independent technical studies where appropriate. We estimate
that the study should be completed early in 2006 as many of the studies
required for the Prefeasibility have already been completed. Once the
Prefeasibility has been completed, Peru Copper will immediately begin work on
a full Feasibility Study."
SNC-Lavalin (TSX: SNC) is one of the leading engineering and construction
companies in the world. The SNC-Lavalin companies have offices across Canada
and in 30 other countries around the world. The Toromocho Prefeasibility Study
will be managed from SNC Lavalin's Santiago, Chile office.
The Company previously reported in its material change report dated
October 13th, 2005 a measured and indicated resources of 1.8 billion tonnes of
copper material at Toromocho with a copper equivalent grade of 0.68%, as well
as 241 million tonnes of inferred copper material with a copper equivalent
grade of 0.57%. Please refer to the Company's material change report dated
October 13th, 2005 which is available at www.SEDAR.com.
Within the measured and indicated resource there are 967 million tonnes
of mineralized material at a copper grade of 0.60% and a copper equivalent
grade of 0.88% based on a 0.60% copper equivalent cut-off.
Peru Copper is involved in the acquisition and exploration of potentially
mineable deposits of copper in Peru. On June 11, 2003, Peru Copper entered
into the Toromocho Option Agreement with Empresa Minera del Centro del Peru
S.A. ("Centromin"), a Peruvian state-owned mining company, whereby Centromin
granted the Company the option to acquire its interest in the mining
concessions and related assets of the Toromocho Project.
Peru Copper's intention is to continue with its exploration program of
the Toromocho concessions and to fulfill the Toromocho Option requirements.
Cautionary Note to U.S. Investors-The United States Securities and
Exchange Commission permits U.S. mining companies, in their filings with
the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms in this
press release, such as "mineral deposit", that the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the
disclosure in our Form F-1 Registration Statement, File No. 333-121527,
which may be secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
Forward-Looking Statements:
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in the Peru Copper Inc. periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Peru Copper does not assume the obligation to update any forward-looking
statement.
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements, including but not limited to those
with respect to the price of copper, the timing of completion of exploration
activities and the determination and amount of estimated mineral resources
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievement of Peru Copper Inc. to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, risks related to the exploration and potential development of
the properties owned by the company, risks related to international
operations, the actual results of current exploration activities, conclusions
of economic evaluations, changes in project parameters as plans continue to be
refined, future prices of copper, silver, molybdenum and gold, as well as
those factors discussed in the section entitled "Risk Factors" in the Form F-1
as on file with the Securities and Exchange Commission in Washington, D.C.
Although Peru Copper Inc. has attempted to identify important factors that
could cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
For further information: Patrick De Witt, Director of Investor Relations
at (604) 689-0234 or patrick@perucopper.com
Source: NewsWire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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