Overview
Status | Care and Maintenance |
Mine Type | Underground |
Commodities |
|
Mining Method |
|
Production Start | ... |
Equus completed its acquisition of the Cerro Bayo Project from Mandalay Resources Corporation.
The project includes an operational flotation processing plant which under Mandalay commenced processing of low-grade stockpiles in late February 2021, having been on care and maintenance since 2016.
Equus continued processing until suspension of stockpile processing on the 17 October 2022.
During the quarter ended June 2023, Equus continued the restructure of its Cerro Bayo project in Chile following the suspension of the stockpile processing announced on 17 October 2022, placing the processing infrastructure on care and maintenance whilst continuing exploration at the Cerro Bayo Project. |
Source:
p. 5,26
Company | Interest | Ownership |
Compañia Minera Cerro Bayo Ltda.
(operator)
|
100 %
|
Direct
|
Equus Mining Ltd.
|
100 %
|
Indirect
|
Following shareholder approval obtained on 27 November 2021, Equus completed its acquisition of the Cerro Bayo Project from Mandalay Resources effective 1 December 2021. The acquisition provided a near-zero cash outlay to acquire 100% of the Cerro Bayo Project including the Project´s mining properties, resources, and mine infrastructure, including the now fully operational plant.
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 ........
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 ........
Source:
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Flow Sheet:
Summary:
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Source:
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Reserves at December 31, 2017:
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade | Contained 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:
| Commodity | Units | 2022 | 2017 |
Cash costs
|
Gold Equivalent
|
USD
|
......
|
|
Cash costs
|
Silver
|
USD
|
|
14.1 / oz†
|
All-in costs
|
Silver
|
USD
|
|
27.1 / oz†
|
† Net of By-Product.
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Operating Costs:
| Units | 2017 | 2016 |
UG mining costs ($/t milled)
|
USD
| 61.1 | 52.9 |
Processing costs ($/t milled)
|
USD
| ...... | ...... |
Total operating costs ($/t milled)
|
USD
| ...... | ...... |
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Financials:
| Units | 2020 | 2019 | 2017 |
Capital expenditures
|
M USD
| ...... |
......
|
9.6
|
Revenue
|
M USD
| |
|
25.4
|
Pre-tax Income
|
M USD
| |
|
-40.5
|
After-tax Income
|
M USD
| |
|
-39.6
|
EBITDA
|
M USD
| |
|
4.2
|
Corporate Filings & Presentations:
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