The MATSA Copper Operations comprises copper-zinc-lead deposits of three mines: Aguas Teñidas, Magdalena and Sotiel and three Projects.

The MATSA deposits are all interpreted to be volcanogenic massive sulphide, or VMS, deposits. VMS deposits are predominantly stratiform accumulations of sulphide minerals that precipitate from upwelling hydrothermal fluids associated with magmatism on or below the seafloor in a wide range of geological settings.

The deposits at Aguas Teñidas and Magdalena mines also have stockwork sulphide zones in the footwall that can be quite extensive and are characterised by primarily pyrite and chalcopyrite mineralisation.

The deposits which comprise the Project have been categorised as Kuroko type VMS deposits based on their mineralogy, geological setting, and geometry/size.

Dimensions
Polymetallic mineralisation in Aguas Teñidas mine is related to four tabular lens shaped bodies. Together Aguas Teñidas and Western Extension extend from approximately 270m to 890m below surface. Mineralisation extends for 3,000m along west-east strike, dipping 80° to the north. The cumulative total true width of mineralisation ranges from 10m to 80m. Calañesa is a smaller tabular lens extending from approximately 100m below the surface. Mineralisation extends for 400m along westeast strike, dipping 60° to the south. The cumulative total true width of mineralisation ranges from 1m to 4m. Castillejito is composed of two t ........

The MATSA complex comprises the Aguas Teñidas and Magdalena mines in Almonaster la Real, the Sotiel mine, located in Calañas, both towns belonging to the province of Huelva, and a central processing facility at Aguas Teñidas mine. The Magdalena mine is located in the municipality of Almonaster la Real, just 7 kilometres East from the current Aguas Teñidas facilities. The two mines are connected by a newly built road along which the ore extracted from the Magdalena mine is hauled to the Aguas Teñidas treatment plant. The Sotiel minet is located 38 kilometres North from Aguas Teñidas facilities.

Underground mining is carried out mainly using the method of primary and secondary stopes that are subsequently backfilled with a paste made from the tailings generated by the mineral ore treatment process at the plant. The use of paste makes it possible to fully exploit the mineral ore reserve and minimise the environmental impact on the surface. The mineral ore is transported to the outside world from underground through trucks and deposited in stockpiles enabled to this end before going to the treatment process.

Mining method is SLOS (Sub-Level Open Stoping) with cemented paste fill on a primary secondary sequence.

AGUAS TEÑIDAS MINE
The Aguas Teñidas deposit was discovered in 1980 by the company Navan Resources PLC, which acquired the mining rights in 1995 and undertook to exploit the deposit. In 1997 the first access ramp was built to extract t ........

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