Overview
Stage | Permitting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 15 years (as of Jan 1, 2021) |
One of the world’s most significant undeveloped VMS deposits.
Path to Value Realization: - Prefeasibility and EIA completed in Q1 2021 and Q3 2021; - Feasibility Study completion targeted for H2 2023. |
Source:
The property is held by Minas de San Nicolas, S.A. de C.V.
On April 6, 2023, Agnico Eagle Mines Limited ("Agnico Eagle") and Teck Resources Limited ("Teck") announced that the previously announced joint venture transaction between Teck and Agnico Eagle to advance the San Nicolás copper-zinc development project has closed. Teck and Agnico Eagle have entered into a joint venture shareholders agreement whereby Agnico Eagle, through a wholly-owned Mexican subsidiary, has agreed to subscribe for a 50% interest in Minas de San Nicolás, S.A.P.I. de C.V. ("MSN") for US$580 million, to be contributed as study and development costs are incurred by MSN. For governance purposes, Agnico Eagle is deemed to be a 50% shareholder of MSN from closing, regardless of the number of shares that have been issued to Agnico Eagle or its subsidiary.
Contractors
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Summary:
The San Nicolás volcanogenic massive sulfide (VHMS) deposit was discovered by Teck in November of 1997 through geological mapping, geophysical surveys and drilling. Drilling on the property has intersected two massive sulphide deposits, the largest of which is San Nicolás that is divided into upper and lower zones. Additional base metal mineralization and alteration has been identified elsewhere on the property.
Mineralization is hosted in volcaniclastic rhyolite, flanking flows and breccias of a flow-dome complex. Mafic flows, sills and dykes dominate the footwall lithologies. Alteration consists of common calcite stringers, Fe-carbonate and barite in the footwall with localized intense chlorite plus quartz-sericite alteration of the felsic and mafic host rocks.
The upper sulphide zone (Cap Zone) is dominated by finegrained pyrite with high concentrations of sphalerite and chalcopyrite that range from massive to semi-massive to laminated and strongly brecciated. The lower sulphide zone (Feeder Zone) is dominated by finegrained pyrite and chalcopyrite with local sphalerite.
Mineralization is generally massive to semi-massive sulphide with well-developed sulphide stringers developed below and lateral to the massive sulphide.
Summary:
The project contemplates a modern truck-and-shovel open pit, processing, and flotation operation.
Source:
Summary:

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Projected Production:
Commodity | Units | Avg. Annual |
Copper
|
kt
| 66 |
Zinc
|
kt
| ......  |
Gold
|
koz
| ......  |
Silver
|
koz
| ......  |
Copper Equivalent
|
kt
| ......  |
All production numbers are expressed as metal in concentrate.
Operational Metrics:
Metrics | |
Daily processing capacity
| ......  |
Tonnes processed, LOM
| ......  |
* According to 2021 study.
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Reserves at December 31, 2021:
Category | Tonnage | Commodity | Grade |
Proven & Probable
|
105,200 kt
|
Copper
|
1.12 %
|
Proven & Probable
|
105,200 kt
|
Zinc
|
1.5 %
|
Proven & Probable
|
105,200 kt
|
Gold
|
0.4 g/t
|
Proven & Probable
|
105,200 kt
|
Silver
|
22.3 g/t
|
Measured
|
500 kt
|
Copper
|
1.35 %
|
Measured
|
500 kt
|
Zinc
|
0.4 %
|
Measured
|
500 kt
|
Gold
|
0.08 g/t
|
Measured
|
500 kt
|
Silver
|
6.4 g/t
|
Indicated
|
6,100 kt
|
Copper
|
1.17 %
|
Indicated
|
6,100 kt
|
Zinc
|
0.7 %
|
Indicated
|
6,100 kt
|
Gold
|
0.2 g/t
|
Indicated
|
6,100 kt
|
Silver
|
11.9 g/t
|
Inferred
|
4,900 kt
|
Copper
|
0.94 %
|
Inferred
|
4,900 kt
|
Zinc
|
0.6 %
|
Inferred
|
4,900 kt
|
Gold
|
0.13 g/t
|
Inferred
|
4,900 kt
|
Silver
|
9.3 g/t
|
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