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Peru
San Luis Project

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 Location:
58 km E from Casma, Peru

  Project Contacts:
Calle Monte Rosa 280, Oficina 402
Chacarilla del Estanque, Surco
Lima
Peru
Phone  ...  Subscription required
Fax51-1-700-9020
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Mechanized Cut & Fill
  • Overhand Cut & Fill
  • Backfill
Mine Life3.5 years (as of Jan 1, 2010)
In September 2012, Peru’s Ministry of Mines and Energy approved the EIA for the mining operation of the Ayelén deposit, completing a significant milestone for the San Luis project. Based on the preliminary and early works the Company conducted in respect of the project in 2017, the EIA now has no expiry date.

The San Luis project includes several vein systems cross an area of land whose surface rights are held by two local communities: Ecash and Cochabamba.

While community relations efforts with both the Cochabamba and the Ecash Communities continues, exploration activities included geological mapping and prospecting. Fieldwork resulted in the discovery of six new gold and silver-bearing quartz veins within 1.5 km of the Ayelen vein system. Additional work is planned for 2023 to define the extent and continuity of mineralization.
Latest NewsHighlander Silver to Acquire the Bonanza Grade San Luis Epithermal Gold-Silver Project in Peru, with Historical M&I Resources of 348,000 Ounces Grading 22.4 g/t Gold, and 9,003,300 ounces Grading 578.1 g/t Silver     November 30, 2023


Owners

Source: p. 45
CompanyInterestOwnership
SSR Mining Inc. 100 % Indirect
The San Luis project is held by Reliant Ventures S.A.C., a wholly-owned subsidiary of SSR Mining Inc.

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein
  • Volcanic hosted


Summary:

The San Luis vein system is a typical volcanic hosted low sulphidation epithermal quartz/precious metal deposit. The deposit is very similar to numerous other volcanic-hosted epithermal vein deposits that occur in the Rocky Mountain, Sierra Nevada, Sierra Madre, and Andean cordilleras, including those in districts in Ouray/Telluride and Creede, Colorado, Silver Peak, Nevada, Guanajuato, Fresnillo, and Pachuca, Mexico, and Morococha, Quirivilca, and Casapalca, Peru.

Vein gangue mineralization in the San Luis deposit consists of quartz, chalcedony, calcite and minor adularia. Gold occurs as electrum and silver is present as acanthite, other silver sulphosalts, and electrum. Other sulphides include trace amounts of pyrite, chalcopyrite, galena and sphalerite The veins display common epithermal textures including crustiform banding that often display the interlayers of quartz and sulfide minerals described in Item 10. Bands are frequently disrupted, indicating repeated pulses of mineralization. Lattice textures in which calcite crystals have been replaced by quartz and brecciation are also common characteristics. Faulting and fracturing are key elements in the localization of mineralization in the vein system. Mineralized “shoots” typically occur in dilational zones that are the result of a variety of local stresses, and often these stresses are repeated along the length of a vein structure, resulting in multiple mineralized-shoots.

The Ayelén vein is the ........


Mining Methods

  • Mechanized Cut & Fill
  • Overhand Cut & Fill
  • Backfill


Summary:

The selected mining method is “mechanized overhand cut and fill”. This method is very selective, both in the horizontal and vertical directions, handles weak ground well, and allows a reasonable productivity (generally about 3 to 5 tonnes per manshift in the mine) in the mining process. Mining will be performed conventionally with stoper drills and small, captive, electric scoops.

There is the potential to use mill tailings for hydraulic backfill but this requires further evaluation. Waste rock can be economically hauled to the stopes from mine development (when available), or from the broad colluvium deposits located near each mine entrance.

The stope is prepared with a backfill/ventilation raise in the center of the stope, and two, vertical access raises (1.5m x 3.0m) on the strike of the vein, located at the stope extremities. These access raises are as wide as the mineralization, or the minimum mining equipment width requirement, and about two meters in depth. At the San Luis Project, the second cut will be accessed by ramping from the first cut inside the stope. This succession is planned for each new cut, leaving the equipment used for drilling and mucking captive in the stope until the level above is reached. This can lower productivity in the stope considerably, since all equipment repairs and maintenance must be performed in the stope. It also requires that extra stopes be prepared at all times to provide the programmed plant feed when scheduled ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 78,000270,031
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily ore mining rate 417 t *
Daily milling capacity 400 t *
Annual milling capacity 146,000 t *
Waste tonnes, LOM 152,474 t *
Ore tonnes mined, LOM 503,313 t *
Total tonnes mined, LOM 655,787 t *
Tonnes milled, LOM 503,313 t *
* According to 2010 study.

Reserves at December 31, 2022:
San Luis Mineral Resources are reported at gold price assumptions of $600/oz using a gold equivalent cut-off grade of 6.0 g/t and include silver attributable ounces. Average gold recovery is 94%.
San Luis Mineral Resources are reported at silver price assumptions of $9.25/oz. The cut-off grade includes gold ounces and is 6.0 g/t gold equivalent. Silver process recovery is 90%.

CategoryTonnage CommodityGradeContained Metal
Indicated 484 kt Gold 22.43 g/t 349 koz
Indicated 484 kt Silver 578.1 g/t 9,003 koz
Inferred 20 kt Gold 5.6 g/t 4 koz
Inferred 20 kt Silver 272 g/t 175 koz

Commodity Production Costs:

CommodityUnits
Cash costs Gold USD 313.16 / oz *  USD
Assumed price Silver USD 12.5 / oz *  USD
Assumed price Gold USD 800 / oz *  USD
* According to 2010 study / presentation.
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Operating Costs:

Units2022
UG mining costs ($/t milled) USD 59 *  USD
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2010 study.
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2010 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 28.3
Freight costs $M USD 0.3
G&A costs $M USD 22.9
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
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Water Supply
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Proposed Heavy Mobile Equipment as of June 4, 2010:
HME TypeModelSizeQuantityLeased or
Contractor
ANFO Loader ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 12, 2023
....................... Subscription required ....................... Subscription required Subscription required Jun 4, 2010
....................... Subscription required ....................... Subscription required Subscription required Jun 12, 2023
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Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Form 10-K 2022
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Corporate Presentation 2018
Annual Information Form 2017
Corporate Presentation 2017
Annual Information Form 2016
Annual Information Form 2015
Feasibility Study Report 2010
Feasibility Study Report 2010
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News:

NewsDate
Highlander Silver to Acquire the Bonanza Grade San Luis Epithermal Gold-Silver Project in Peru, with Historical M&I Resources of 348,000 Ounces Grading 22.4 g/t Gold, and 9,003,300 ounces Grading 578.1 g/t Silver November 30, 2023

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