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Mexico
Velardena Restart Mine (Velardena)

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 Location:
62.5 km SW from Torreon, Durango, Mexico

  Project Contacts:
Calle Rio Tamesis, No. 2505 Col. Las Magdalenas
Torreón
Coahuila, Mexico
27010
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageRestarting
Mine TypeUnderground
Commodities
  • Silver
  • Gold
  • Lead
  • Zinc
Mining Method
  • Resue mining
  • Mechanized Cut & Fill
Production Start...
Mine Life11 years (as of Jan 1, 2022)
Economic model includes Measured, Indicated, and Inferred resources.


Owners

Source: p. 16
CompanyInterestOwnership
Golden Minerals Company 100 % Indirect
Velardena is held by Minera William S.A. de R.L. de C.V. (Minera William) a wholly owned subsidiary of Golden Minerals.

Contractors

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Deposit Type

  • Epithermal
  • Mesothermal
  • Vein / narrow vein


Summary:

Although detailed petrologic studies of veins in the Velardeña property have not been completed, individual deposits within the nearby Santa María dome have been studied in some detail and found to correspond to both shallow epithermal and deeper-seated mesothermal styles of mineralization. Epithermal veins, often displaying banded and open-space-filling quartz, occur at the Industria Mine where they are clearly distal to the main intrusive mass. The higher-level veins at Velardeña appear to be of this type. Many veins, especially at deeper levels in the Santa Juana and Terneras mines, are dominated by high modal percentages of coarse and fine grained, polymetallic sulfides, have little silicate gangue, and occupy a position within and proximal to intrusions and their thermally metamorphosed aureoles.

True epithermal veins occur at Velardeña, but at depth the majority of veins, breccias, and massive sulfide replacements are mesothermal in character, commonly contain arsenopyrite, and may be related to a deeper intrusive source.

Two main vein systems are present on the Velardeña property. The first is the northwest striking system found in the Santa Juana deposit, while the second is the east-west trending vein array which includes the Terneras, San Juanes, Roca Negra and San Mateo deposits.

Mineralization consists primarily of calcite-quartz veins with minor calc-silicate hosted (“skarn”) and massive sulfide replacement bodies. All mineraliza ........


Mining Methods

  • Resue mining
  • Mechanized Cut & Fill


Summary:

The Project is planned to be operated as an exclusively underground operation. The current mine plan includes only the sulfide material from the principal veins, which include veins CC, C1, A4, F1, G1, San Mateo, Roca Negra, Hiletas, Terneras, Chicago, and Escondida. The plan targets an annual maximum of 112,775 tonnes.

Tetra Tech has conceptually planned stopes for two scenarios to determine potentially mineable Resources, targeting a mill feed of 325 tonnes per day. Scenario 1 includes Measured, Indicated, and Inferred Resources, and Scenario 2, excluding the Inferred material. Scenario 1 contains a potentially Minable Resource totaling 1.24 Mt tonnes for mining over 11 years, from and stope development. Scenario 2 contains a potentially Mineable Resource of 443 kt for mining for 4 years.

An underground site visit was conducted on December 10, 2019. The past extraction methods observed during the visit were Mechanized Cut and Fill stoping and Mechanized Resuing Cut and Fill stoping. These two techniques are considered for the conceptual plan and are suitable for the steeply dipping veins found at the Project.

Resue mining methods considered a minimum width of 0.7 meters, which was demonstrated in recent test mining at the site. Main access ramps will be 4 meters high by 4 meters wide. Cross Cuts and footwall development were considered in the plan. The loss of Resources available to mining through mini ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. Annual
Silver Equivalent M oz 1.9
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily milling capacity  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Annual milling capacity  ......  Subscription required
Annual mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at March 1, 2022:

CategoryTonnage CommodityGradeContained Metal
Measured 385,000 t Silver 327 g/t 4,050,800 oz
Measured 385,000 t Gold 5.58 g/t 69,000 oz
Measured 385,000 t Lead 1.62 % 13,755,300 oz
Measured 385,000 t Zinc 1.78 % 15,103,100 oz
Indicated 883,800 t Silver 316 g/t 8,980,600 oz
Indicated 883,800 t Gold 4.88 g/t 138,500 oz
Indicated 883,800 t Lead 1.55 % 30,157,100 oz
Indicated 883,800 t Zinc 1.76 % 34,345,500 oz
Measured & Indicated 1,268,800 t Silver 319 g/t 13,031,400 oz
Measured & Indicated 1,268,800 t Gold 5.09 g/t 207,500 oz
Measured & Indicated 1,268,800 t Lead 1.57 % 43,912,400 lbs
Measured & Indicated 1,268,800 t Zinc 1.77 % 49,448,600 lbs
Inferred 1,709,200 t Silver 362 g/t 19,893,600 oz
Inferred 1,709,200 t Gold 4.8 g/t 263,800 oz
Inferred 1,709,200 t Lead 1.73 % 65,263,700 lbs
Inferred 1,709,200 t Zinc 1.86 % 70,201,100 lbs
Inferred 1,709,200 t Silver Equivalent

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Lead USD  ......  Subscription required&nbs
Assumed price Zinc USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
Total operating costs ($/t milled) USD 242.23 *
* According to 2022 study.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 105.2
Total OpEx $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment as of May 8, 2020:
HME TypeModelQuantity
Drill jumbo (single boom) ....................... Subscription required ....................... Subscription required
Drill jumbo (single boom) ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Loader (FEL) ....................... Subscription required ....................... Subscription required
Loader (FEL) ....................... Subscription required ....................... Subscription required
Personnel Carrier ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... Subscription required ....................... Subscription required
Scoop Tram ....................... 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 Apr 10, 2022
....................... Subscription required ....................... Subscription required Subscription required Apr 10, 2022
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Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Corporate Presentation 2022
Press Release 2022
Technical Report 2022
................................... Subscription required 2020
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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