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Chile
Cerro Bayo Mine

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 Location:
110 km S from Coyhaique, Chile

  Address:
Laguna Verde s/n, Km. 94,6, Ruta CH 265
Chile Chico
Chile
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Silver
  • Gold
Mining Method
  • Blast Hole Stoping
Production Start...
Mine Life3 years (as of Jan 1, 2017)
First Quarter 2021 - Commenced trial processing of mineralized waste dump material at Cerro Bayo.

October 19, 2021 - Cerro Bayo continued with its processing of the low-grade mineralized waste material throughout the third quarter 2021 and produced 2,925 ounces of saleable gold equivalent. Due to economic uncertainties surrounding this process, no production guidance was provided for Cerro Bayo at the start of this year. However, with slightly higher than expected grades coupled with the support from a strong silver price, it has allowed for the project to be profitable since its initiation in March 2021. Processing will continue through to December 1, 2021, when Equus Mining will acquire ownership of the operation.


Owners

Source: p. 1
CompanyInterestOwnership
Compañia Minera Cerro Bayo Ltda. (operator) 100 % Direct
Equus Mining Ltd. 100 % Indirect
On December 2, 2021, Mandalay Resources Corp. completed the previously announced sale of its Cerro Bayo mine.
Pursuant to the transaction, Equus Mining Limited (“Equus”) acquired the Cerro Bayo mine, including its mining properties, resources and mine infrastructure as well as a 1,500 tonnes per day processing plant. Mandalay also retains a 2.25% net smelter royalty on production from the Cerro Bayo mining claims once the mine has produced at least 50,000 ounces of gold equivalent, subject to a re-purchase option in favour of Equus, and remains responsible for 50% of approved site closure costs at Cerro Bayo.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Epithermal


Summary:

Epithermal Au and Ag mineralization at Cerro Bayo is contained in veins, stockworks, and breccias. The deposits show multiple stages of mineralization and display open-space filling and banding, typical of lowsulfidation style epithermal mineralization. Mineralogy is complex and is associated with alteration assemblages that suggest at least three types or stages of precious depositional environments.

The principal epithermal gold-silver mineralization event with local bonanza grades is hosted mainly in NNW and N-S to NNE structural trends, such as the Cerro Bayo, Cascada and Coigues Este (in the Laguna Verde sector) veins.

This event was predated by a more likely mesothermal event with silver, gold and base metal mineralization hosted in arcuate N-S to NNE veins and tectonic breccias. This style of mineralization is only known to exist in the Laguna Verde sector and is interpreted to be a result of igneous intrusions, doming, and subsequent collapse. A third mineralizing event is interpreted to coincide with the emplacement of a porphyritic stock and related apophyses at Rodados Colorados, which is characterized by a porphyry-style alteration pattern. This includes moderately extensive propylitic alteration with chlorite, epidote, disseminated cubic pyrite, and specular hematite. Structures contain gangue dominated by calcite with locally abundant oxides and relict pyrite.

Epithermal mineralization is characterized by Au and Ag associated wi ........


Mining Methods

  • Blast Hole Stoping


Summary:

Currently there no any mining activities at Cerro Bayo. Commenced trial processing of mineralized waste dump material.

The mine design for the Cerro Bayo vein systems includes the main access via 4.0 m by 4.5 m decline ramps because most veins are less than 200 m below surface. The ramps are typically driven in the footwall of the target vein at a gradient of -12.5%. The access drifts driven from the ramp to the ore are three metres by three metres as are the access drifts to the ventilation raises. The ground conditions were very good in all areas visited in the past. All of the portals are located within a radius of one kilometre of the processing plant.

As a result of the very good ground conditions, a longhole mining method without backfill is employed although shrinkage stoping was used in the past by Coeur. Production development includes driving the drifts on ore at a minimum dimension of three metres by three metres, which is required for the standard equipment sizes utilized. The appropriate name for the type of stoping method is “longhole retreat stoping”. The average production rate over the LOM is 1,000 tpd.

Stoping is carried out with the drilling of 54 mm diameter production holes upwards from the drill drift towards the upper drift. Production drill holes are drilled to within approximately one metre of breakthrough and stopped at that point in order to avoid blockage of the hole from loose material on the overcut floor. Typica ........


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityProductUnits201720162015
Silver Concentrate kt 2.96.17.3
Silver Payable metal koz 7951,7312,546
Gold Payable metal oz  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Equivalent Payable metal oz  ......  Subscription required  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics201720162015
Ore tonnes mined 154,542 t383,860 t447,481 t
Tonnes processed 156,727 t396,508 t456,128 t
Daily production capacity 31 t of silver concentrate
Daily processing capacity 1,650 t

Reserves at December 31, 2017:

CategoryTonnage CommodityGradeContained Metal
Proven 40 kt Silver 227 g/t 292 koz
Proven 40 kt Gold 1.72 g/t 2 koz
Probable 816 kt Silver 286 g/t 7,511 koz
Probable 816 kt Gold 2.37 g/t 62 koz
Proven & Probable 856 kt Silver 284 g/t 7,803 koz
Proven & Probable 856 kt Gold 2.34 g/t 64 koz
Measured 47 kt Silver 279 g/t 421 koz
Measured 47 kt Gold 2.15 g/t 3 koz
Indicated 854 kt Silver 352 g/t 9,671 koz
Indicated 854 kt Gold 3.07 g/t 84 koz
Measured & Indicated 901 kt Silver 348 g/t 10,092 koz
Measured & Indicated 901 kt Gold 3.02 g/t 87 koz
Inferred 513 kt Silver 204 g/t 3,355 koz
Inferred 513 kt Gold 2.52 g/t 42 koz

Commodity Production Costs:

CommodityUnits20172016
Cash costs Silver USD 14.1 / oz†   12.3 / oz†  
All-in costs Silver USD 27.1 / oz†   20.9 / oz†  
† Net of By-Product.

Operating Costs:

Units201720162015
UG mining costs ($/t milled) USD 61.152.950.4
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Financials:

Units2020201920172016
Capital expenditures M USD  ......  Subscription required  ......  Subscription required 9.6   14.6  
Revenue M USD 25.4   50  
Pre-tax Income M USD -40.5   -24.4  
After-tax Income M USD -39.6   -26  
EBITDA M USD 4.2   8.9  



Heavy Mobile Equipment as of March 21, 2017:
HME TypeModelQuantity
Drill (long hole) ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Jumbo ....................... Subscription required ....................... Subscription required
Jumbo ....................... Subscription required ....................... Subscription required
Jumbo ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Truck (underground) ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 10, 2021
....................... Subscription required ....................... Subscription required Subscription required Jun 10, 2021
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2018
Subscription required Subscription required Subscription required 2016
Subscription required Subscription required Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
Annual Information Form 2018
Annual Information Form 2018
Management Discussion & Analysis 2018
Press Release 2018
Press Release 2018
Management Discussion & Analysis 2017
Press Release 2017
Press Release 2017
Technical Report 2017
Year-end Mineral Reserves 2017
Annual Information Form 2016
Management Discussion & Analysis 2016
Other 2016
Technical Report 2016
Annual Information Form 2015
Subscription required - Subscription is required.

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