Overview

Mine Type	Open Pit
Stage	Permitting
Commodities	Copper Zinc Gold Silver
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	San Nicolas property is considered the largest undeveloped VMS deposit in Mexico and one of the largest undeveloped VMS deposits in the world. In the fourth quarter of 2023, Minas de San Nicolás, which is jointly owned by the Company and Teck Resources Limited, continued to advance the San Nicolás project, including with respect to stakeholder engagement on the permitting process. The partners also continued to advance the feasibility study, with the intention to initiate detailed engineering and further optimization work later in 2024, and plan to be complete in 2025. Project approval would be expected to follow, subject to receipt of permits and the results of the feasibility study. In January 2024, Minas de San Nicolás submitted its application for an Environmental Impact Assessment permit, which is an important milestone in advancing the development of the San Nicolás project.

Deposit type

• VMS

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.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Production

Operational metrics

Metrics
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Tonnes processed, LOM	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Mar 20, 2024