In the Punitaqui-Ovalle district mineral deposits are related to hydrothermal activity and are considered broadly as epigenetic Cu± Au-Ag-Hg deposits. There are a number of actively producing copper and/or gold mines as well as numerous and widespread prospects and small workings. These mineral occurrences and mines include manto style copper mineralization, generally hosted in calcareous pyritic sedimentary units, structurally controlled copper (gold) deposits, quartz sulphide gold veins, with or without, copper mineralization and structurally controlled massive magnetite deposits with some copper mineralization.

This mineralization is structurally controlled “feeder” structures within dilational zones and shears. Principle mineral types include pyrite, chalcopyrite and bornite. In many deposits, copper and gold mineralization occur with magnetite and hematite which (Sillitoe, 2003) links these deposits to the iron oxide copper-gold (IOCG) family of deposits.

Cinabrio
The Cinabrio copper deposit is hosted within sequence of early Cretaceous volcanic rocks with sedimentary interbeds. The volcano-sedimentary sequence has been designated the El Reloj formation (Thomas, 1967) and, more recently, the sequence has been included in the Arqueros formation (Emparan and Pineda, 2020).

Regional and district structures control the location of copper mineralization. There are three main systems, north-south, northwest-southeast, and east-west trendi ........

The Punitaqui project is a formerly operating mining complex with an operational ~3,000 tonnes per day (t/d) processing plant that processed approximately 8.4 million tonnes (Mt) of ore for sale as copper concentrate. Feed to the mill came primarily from the underground Cinabrio mine, complemented with feed from the Los Mantos and Nova Galacia mines, which were leased at that time. The lease is no longer valid.

BMR is currently pursuing a potential near-term resumption of operations of the Punitaqui Mining Complex. The Punitaqui resource is separated into four underground resource zones: Chinabrio, San Andrés, Dalmatia and Chinabrio Norte.

September 7, 2022 - has received public approval by the Chilean Environment Assessment Service for the Environmental Impact Declaration which grants the permission to mine at a rate of up to 100,0000 tonnes per month (~ 3,333 tonnes per day) at the Cinabrio/San Andres area at its Punitaqui copper mining complex.

Four Underground Resource Estimates Totalling 6.17 Mt Indicated. At our proposed mine rate of 3,200 tpd, the indicated resources could provide ~ six years of mining.

The individual resource estimates include Cinabrio, San Andres, Dalmacia and Cinabrio Norte. This estimate is based upon the reasonable prospect of eventual economic extraction based on continuity and confidence, using reasonable, established mining solids along with reasonable estimates of operating costs and price assumpt ........

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The plant is a conventional three stage crushing with single stage ball milling and bulk flotation to generate a concentrate of combined copper-gold with silver as a byproduct. It is then dewatered on site and trucked to either Glencore’s Chilean Altonorte smelter, or to the port, for dispatch to the market.

The property contains a mill that is permitted to operate at 3000 Mt/d, with an allowance to exceed the permitted capacity by an additional 20%, suggesting a maximum allowable milling rate of approximately 3,600 Mt/d.

Flotation
The flotation circuit consists of a rougher-scavenger circuit, with a three stage cleaner circuit to upgrade the copper to nominally 23% copper in the final concentrate. The gold content of the copper concentrate is totally dependent upon the mineralized rock mix utilized on the ROM pad.

Rougher Scavenger Flotation
The grinding circuit product is conditioned in two stages utilizing a 10 ft x 10 ft primary and an 11 ........