The characteristics and setting of the mineralization at the Santander Property are consistent with intrusion related, carbonate-hosted zinc-lead (copper, silver) deposits (Megaw, Balton and Falce 1996; Megaw 1998; Meinert, Dippert, and Nicolescu 2005), also known as CRD or hightemperature carbonate (HTC) deposit types. The Santander mine is located within what is referred to as the Miocene metallogenic belt of central and northern Perú. It extends for at least 900 km along the Andean Western Cordillera and adjacent Altiplano and is characterized by numerous hydrothermal mineral deposits that formed about 20 Ma ago. Mineralization is interpreted to have occurred during a pre-lower Miocene Quechua I compressive event and spanned later Quechua II tectonism. Mineral deposits are predominantly hosted by shelf carbonates and other sedimentary rocks of Late Triassic, Jurassic, and Cretaceous age, and by volcanic and intrusive rocks mainly of Neogene age. Base metal and precious metal mineralization was intimately associated in time and space with the eruption of calc-alkali volcanic rocks of intermediate composition, and the emplacement of mineralogically and geochemically similar, dykes and stocks. The property is underlain by a package of Cretaceous carbonate and clastic sedimentary rocks that were tightly folded into a series of northwest-trending anticlines and synclines. The lower, predominantly clastic part of the section was thrust over the mainly carbonate-rich upper port ........

Magistral is the only actual mining operation at Santander. It consists of three main mineralised bodies Magistral North, Magistral Central, and Magistral South, with three separate portals and ramp systems in place, which are strategically connected underground.

Bench and fill with a mechanized extraction methodology is the mining method applied at the Santander Mine. Current production capacity is about 2,000 tpd of zinc-lead-silver ore.

The mining method selected for underground mining is a modified Avoca method comprising overhand bench and fill which requires the removal of mineral in vertical slices, starting from the bottom undercut and advancing upwards. When mineralised widths are greater than 3 m, a combination of bench and fill and room-and-pillar methods has been selected as the most appropriate for the conditions encountered.

Mechanized mining uses a jumbo drill rig to drill blastholes, scooptrams for loading and trucks for ore haulage. Rock support is provided through rock bolts and shotcrete. The deposit width ranges from 13 m to 20 m for the three Magistral deposits. Mechanized mining is regarded as the only methodology suitable based on the geological structure and geotechnical studies to date. The mechanized mining cycle includes drilling (with a jumbo drill rig), blasting, ground support, loading (by scooptram) and haulage.

A brief description of the mining method is as follows:
1. Ore is extracted from the ........

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