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Mexico
La Preciosa Project

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 Location:
48 km NE from Durango, Durango, Mexico

  Project Contacts:
104 S. Michigan Avenue, Suite 900
Chicago
Illinois, United States
60603
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageFeasibility
Mine TypeOpen Pit
Commodities
  • Silver
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life11 years (as of Jan 1, 2014)
La Preciosa is a development stage mineral property, hosting one of the largest undeveloped primary silver resources in Mexico.


Owners

Source: p. 1
CompanyInterestOwnership
Avino Silver & Gold Mines Ltd. 100 % Indirect
Proyectos Mineros La Preciosa S.A. de C.V. (operator) 100 % Direct
On March 21, 2022, Avino Silver & Gold Mines Ltd. closed the acquisition with Coeur Mining, Inc. for the acquisition (the “Transaction”) of all of the issued and outstanding shares of Proyectos Mineros La Preciosa S.A. de C.V., a Mexican corporation, and Cervantes LLC, a Delaware LLC, that together hold the La Preciosa property in Mexico (“La Preciosa”).

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein


Summary:

Silver and gold mineralization in the Project area can be grouped into the low sulphidation epithermal model of precious metal deposits. These types of deposits are found worldwide and have been commonly formed during the Cretaceous to Holocene.

The veins in the Project area consist of several stages of banded, crustiform (to colloform; quartz and cryptocrystalline quartz at shallow depths, adularia, barite and typically later carbonates both calcite and rhodochrosite, "illitic clay" (illite) commonly replaces the adularia (Coote, 2010). There are variable amounts of pyrite, sphalerite and galena plus argentite, and variable amounts of tetrahedrite-tennantite, freibergite and Ag sulfosalts.

The Ag:Au ratio is high, approximately 500:1 for the resource. Supergene oxidation extends to at least 300 m depth, and includes manganese oxide. There is abundant adularia, bladed calcite textures and coexisting vapor-rich and liquid-rich inclusions, all indicating an ascending, boiling fluid, consistent with the abundant evidence for brecciation, which suggests that that mixing caused metal deposition and carbonate formation.

Petrographic studies of the veins in Deposit, find that multiple stages of silver and base metal mineralization are associated with repeated fluid boiling and mixing events, defined by crustiform banded fill/cement assemblages within a framework of intermittent and more significant fracturing/rupturing of wall rock and pre-existin ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Project mine plan was developed using conventional hard rock open pit mining methods. No underground resource was envisioned in this mine plan. While a smaller, higher grade portion of the resource could be recovered in an underground mine, the scale and percent recovery of the resource would be substantially diminished. In addition, the complicated structure of the low angle Martha vein which makes up 60% of the resource would make underground mining complicated and costly.

Scoping studies indicated that a production schedule filling the mill at 10,000 tpd maximized the Project return on investment. The total material rate is tied to equipment productivity. The total material moved ramps up to 214,000 tonnes per day in year 6, and averages 60,400 ktonnes/yr or 167,700 tpd for the first 10 years. The mine is scheduled to operate 365 days/yr with two, 12-hour shifts/day.

The mine plan was developed with a phased approach to facilitate sufficient ore release to provide the mill feed desired. In addition to the phases, mining was envisioned on 5 m in ore and 10 m in waste to increase productivity and ore release.

Seven phases were designed for Project with a minimum of 100 m of operating width on each bench within a phase, in general.

Phase Design Parameters:
- Haul Road Width - 30 meters;
- Haul Road Grade - 10% Maximum;
- Interramp Slope Angles - by sector;
- Operating width between pushbacks - 100 meters nominal.


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Silver Payable metal koz 10,300105,790
Silver Metal in doré koz 106,643
Gold Payable metal koz  ......  Subscription required  ......  Subscription required
Gold Metal in doré koz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 15.5 *
Daily mining rate 167,700 t *
Daily milling capacity 10,000 t *
Waste tonnes, LOM 583,674 kt *
Ore tonnes mined, LOM 37,326 kt *
Total tonnes mined, LOM 621,000 kt *
Tonnes milled, LOM 37,326 kt *
Annual milling capacity 3,650 kt *
Annual mining rate 60,400 kt *
* According to 2014 study.

Reserves at December 31, 2021:
Open Pit Mineral Resource estimate is reported using a net smelter return (“NSR”) cutoff of US$23/tonne and Underground Mineral Resources are reported using a NSR cut-off of $71/tonne.

CategoryTonnage CommodityGradeContained Metal
Measured 9,536 k tons Silver 3.04 oz/ton 29,001 koz
Measured 9,536 k tons Gold 0.005 oz/ton 45 koz
Indicated 19,141 k tons Silver 3.98 oz/ton 76,185 koz
Indicated 19,141 k tons Gold 0.006 oz/ton 118 koz
Measured & Indicated 28,677 k tons Silver 3.67 oz/ton 105,186 koz
Measured & Indicated 28,677 k tons Gold 0.006 oz/ton 163 koz
Inferred 1,761 k tons Silver 3.31 oz/ton 5,835 koz
Inferred 1,761 k tons Gold 0.003 oz/ton 6 koz

2014 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 548.5
G&A costs $M USD 81.5
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net Operating Income (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of August 29, 2014:
HME TypeSizeQuantityLeased or
Contractor
Dozer (crawler) 574 HP ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 27, 2022
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Corporate Filings & Presentations:

DocumentYear
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
Form 10-K 2018
Year-end Mineral Reserves 2018
Annual Report 2017
Year-end Mineral Reserves 2017
Year-end Mineral Reserves 2016
Year-end Mineral Reserves 2015
Feasibility Study Report 2014
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