The copper-gold sulphide mineralization present at the Candelaria Copper Mining Complex is generally referred to as iron oxide copper gold (“IOCG”). Depending on lithology and the structural setting, the polymetallic sulphide mineralization can occur as veins, hydrothermal breccias, replacement mantos, and calcic skarns.

Calcareous, sedimentary, and volcaniclastic rock of the Abundancia and Punta del Cobre formations are exposed within the open pit of the Candelaria mine. Due to the closer proximity to the Coastal Batholith, rocks in the open pit of the Candelaria mine show stronger metasomatism and metamorphism than in other sulphide deposits of the Punta del Cobre district.

The lowermost unit in the Candelaria mine and Candelaria Underground is the Lower Andesite, a compact succession of porphyritic to massive andesite and volcaniclastic breccias with intense biotite-quartz-magnetite-albite alteration. The Lower Andesite is overlain by a succession of stratified volcaniclastic rocks including tuffs, which are further sub-divided by alteration and mineralisation into pink garnet skarn and magnetite breccia. The Upper Andesite of the Punta de Cobre Formation consists of a homogenous succession of undifferentiated volcaniclastic and andesitic rock. The biotite-bearing andesite exhibits alteration varying from quartz-pyroxene hornfels to pyroxene-scapolite-garnet skarns.

At the Candelaria mine a low angle shear zone, located at the confluence o ........

Minera Candelaria consists of the Candelaria Open Pit and the Candelaria Underground mines.

The open pits will operate with an overall mining rate of approximately 310,000 tonnes per day for the next ten years. As the final Candelaria Phase 13 waste stripping is completed the overall mining rate will decline. A stockpile strategy has been developed to maximize the grade of material going to the processing facility.

TThe Candelaria open pit was designed to be mined in several phases of development. As of June 2018, five phases of development remain in the LOM plan.

The primary components for the open pit slope design include bench geometry, inter-ramp, and overall slope angles (Figure 28). The current pit dimensions are 2,200 metres by 1,400 metres with a depth of 700 metres. Current inter-ramp slope angles range from 45 to 52 degrees in the west wall and from 52 to 57 degrees in the east wall. Bench face angles range from 65 to 72 degrees.

The Candelaria Open Pit is relatively dry owing to its location in an arid region. The northeast wall appears to be receiving some seepage from the toe of the tailings dam. Horizontal drain holes have been drilled up to 200 metres into the wall to reduce pore pressures in the area of the Lar fault.

SRK is of the opinion that the stopes that support the proposed LOM plan for the Candelaria, Alcaparrosa and Santos underground mines can be mined as expected. The three underground mines u ........

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