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Chile

Puquios Project

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Summary

Mine TypeOpen Pit
Study CompletedPrefeasibility
StagePermitting
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
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SnapshotThe Puquios Project, a construction-ready copper project that has obtained its primary Environmental Licence (RCA) permit to build and operate the mine.

Owners

SourceSource
CompanyInterestOwnership
Camino Minerals Corp. 50 % Indirect
Nittetsu Mining Co., Ltd. 50 % Indirect
Cuprum Resources Chile SpA, a Chilean incorporated company and the owner of the Puquios Project.

On April 17, 2025, acquisition of all of the issued and outstanding shares of Cuprum Resources Chile SpA (Cuprum) was completed. The Acquisition resulted in JVCO, an entity existing under the laws of Chile in which Camino Minerals Corp. and Nittetsu Mining Co., Ltd. each hold a 50% ownership interest, acquiring a 100% ownership interest in Cuprum.

Contractors

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Deposit type

  • Porphyry

Summary:

The Puquios deposit is an example of a copper–molybdenum porphyry system that has been weathered and consists of an enrichment zone underneath outcropping copper oxide.

Hydrothermal alteration zones crop out in the area of the Puquios deposit. The gangue mineralogy defines these alteration types as advanced argillic, quartz–sericite and supergene argillic. The alteration type distribution is closely related to the contact zones between the Mesozoic sequences and the Lower Tertiary granodioritic intrusive rocks.

Primary copper–iron and molybdenum sulphide mineralization occur as veins and disseminations that were subsequently weathered and leached. Three mineralized zones were geologically outlined: the leached and oxide zone, the secondary enrichment zone, and the primary sulphide zone. The leached and oxide zone ranges in thickness from 0–80 m and contains black (e.g., neotocite, copper wad) and green (e.g., chrysocolla, copper-pitch, pseudo-malachite, atacamite) copper oxides. The copper oxide occurrences are mainly located in fractures and veins that are oriented approximately north–south and have a subvertical dip. The secondary enrichment zone typically is about 40 m in thickness, underlies the leached and oxide zone, and is associated with a strongly-developed quartz–sericite alteration. Chalcopyrite mineralization is replaced by secondary chalcocite. Chalcopyrite can also be partially enriched by chalcocite. The lowermost mineralized zone is the primary sulphide zone, consisting of pyrite, chalcopyrite and molybdenite. Chalcopyrite is more dominant in the zone centre than on the periphery. The primary sulphide zone is associated with poorly-developed quartz–sericite alteration. Potassic feldspar and potassic biotite alteration may be present.

The major mineralized zones include:
• Leached and oxidized zone: overlies the primary sulphide zone. Moderate to intense supergene argillic alteration superimposed over silica–potassic to advanced argillic alteration types. Mineralization consists of jarosite, goethite, hematite, copper wad and copper-pitch, chrysocolla, malachite, atacamite and copper-bearing clays.
• Secondary enrichment zone: located under the base of the leached and oxidized zone and above the top of the occurrence of carbonates and characterized by phyllic alteration. Mineralization comprises dusty chalcocite rimming pyrite and chalcopyrite. At depth, the zone is dominated by chalcocite–covellite rimming pyrite and chalcopyrite grains. Molybdenite occurs in fractures and veins.
• Primary sulphide zone: zone located under the base of the carbonates. Characterized by silicic–potassic alteration. Mineralization is chalcopyrite dominant. Molybdenite occurs in fractures and veins.

The surface copper anomaly has dimensions of approximately 1,200 x 400 m. The mineralized area captured within the resource estimate has overall dimensions of approximately 1,250 x 500 m. It has been drilled, on average, up to 250 m in depth.

The oxide (leached) zone ranges in thickness from 0–80 m. Supergene argillic alteration overprints earlier hypogenerelated alteration. Copper oxides are classified as black (e.g., neotocite, copper wad) or green (e.g., chrysocolla, copperpitch, pseudo-malachite, atacamite).

A zone of supergene enrichment, generally 40 m thick, underlies the leached zone. Chalcopyrite mineralization is replaced by secondary chalcocite. In the base of this zone, transitional forms may occur, such as chalcopyrite partially enriched by chalcocite. The transitional zone is irregular and discontinuous. Covellite may be present toward the base of this zone.

The lowermost zone is the primary sulphide zone, consisting of pyrite and chalcopyrite mineralization, and is encountered at average depths of 100–150 m. Molybdenite occurs in veinlets and fractures. The zone generally exhibits low-intensity quartz–sericite alteration and includes potassic feldspar and potassic biotite alteration.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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EV - Electric

Comminution

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Processing

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Commodity Production

CommodityUnitsAvg. AnnualLOM
Copper M lbs 20223
All production numbers are expressed as cathode.

Operational metrics

Metrics
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* According to 2025 study.

Production Costs

CommodityUnitsAverage
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All-in sustaining costs (AISC) Copper USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
* According to 2025 study / presentation.

Project Costs

MetricsUnitsLOM Total
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Sustaining CapEx $M USD  ......  Subscribe
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OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 232.4
G&A costs $M USD 32
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Pre-tax NPV @ 8% $M USD  ......  Subscribe
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Personnel

Mine Management

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Workforce

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