The Ajax property is located in the southern boundaries of the city of Kamloops in British Columbia, Canada. The project is owned by a joint venture between KGHM Polska Miedz S.A. (80% interest) and Abacus Mining & Exploration Corp. (20% interest). The Ajax property is an alkalic copper-gold porphyry deposit hosted within the Iron Mask Batholith.
The proposed mine plan is an open pit with a processing plant that will treat 65,000 tonnes of ore per day. The plant will include crushing and grinding followed by flotation and a gravity circuit to recover copper and gold. A Feasibility Study released in Feb. 2016 estimated recoveries at about 85% for both metals and average annual production of 127.4 Mlbs of copper and 123 kozs of gold. Life of mine production is estimated at 19 years based on a Dec. 2014 Proven and Probable Mineral Reserve estimate of 426 Mt of ore containing 0.29% copper, 0.2 g/t gold and 0.4 g/t silver (NSR cut-off of $7.10/tonne).