Gold mineralization at the Gualcamayo Property occurs in three main areas: Quebrada del Diablo (QDD), Las Vacas (LV), and Salamanca. The QDD area includes the QDD Main, Condor, Potenciales, Amelia Inés and Magdalena (together AIM), Target D, QDD Lower, and Rodado deposits. There are also a number of small satellite deposits not currently included in the mine plan.

Three distinct mineralization types of economic interest occur in the Gualcamayo Property:
• sediment-hosted distal-disseminated gold (QDD);
• sulphide-bearing skarn deposits containing copper zinc and molybdenum with late stage gold-arsenic mineralization (Amelia Inés and Magdalena);
• porphyry style molybdenum mineralization (Quebrada Perdida).

Gold mineralization at QDD occurs in carbonate sedimentary rocks within conformable and discordant carbonate breccias and fractured limestone. The gold mineralization is related to a hydrothermal event overprinting the proximal skarns and extending into the surrounding marbles and limestones. The QDD canyon itself lies along a fault/dyke system, which is believed to be a reactivated, Ordovician rift structure that acted as the primary conduit for hydrothermal fluids migrating away from the intrusive contacts.

The mineralizing fluids were dispersed into a semi conformable, receptive limestone aquifer traveling up dip following the hydraulic gradient, more than 600 m away from the QDD feeder structure. The permeability was provi ........

The Gualcamayo Mine consists of three operating open pits, QDD Main, AIM, and Condor, and one operating underground mine, QDD Lower. The operation also includes crushing facilities, an adsorption, desorption and recovery (ADR) plant, heap leach pads; and accommodation camp, maintenance buildings, and office buildings. The Deep Carbonates Project (DCP), which consists of the Santiago, Feeder, and Rodado deposits, is the primary target for future expansion.

The current Life of Mine (LOM) plan is for three years of mining and processing. Mineros intends to expand the current Mineral Reserves and further develop the DCP as an underground mine.

OPEN PIT MINING
Open pit mining takes place in various distinct areas of the Gualcamayo Mine, including a central, large open pit area, and three small satellite workings. As the deposits are located against a mountainside, the open pit operation is a combination of hillside benches and in pit benches. Most of the ore haul is downgrade.

Open pit ore production employs standard drill and blast, load and haul operational procedures. Mining is carried out on 10 m bench heights, with some pit walls left with a double bench.

Material is loaded and transported to an ore pass, on the edge of the QDD Main pit, which delivers the material to an underground primary crusher, where it is combined with underground ore. The ore is then conveyed to a secondary crushing system on surface, after which it is ........

Ore is mined in the open pit and underground mines, with the primary crusher located underground. Open pit ore is dumped from the surface either into an ore pass or an ore chute, both of which deliver the ore to the underground primary crushing and conveying system. The primary crusher reduces the ore to P80 150 mm. Crushed ore is transported via overland conveyor to the crushed ore stockpile. Ore is drawn from the crushed ore stockpile with apron feeders and conveyed to the secondary-tertiary crushing circuit. Ore is screened on the secondary screen, with oversized material fed to the secondary crusher. The secondary crusher product is then conveyed to the tertiary crushers which are closed by the tertiary screens. The screen undersized product, with P80 25 mm from the secondary and tertiary screens is conveyed to the heap leach pad.

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