San Luis Project

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Mine TypeUnderground
 Archived Information
  • Gold
  • Silver
Mining Method
  • Overhand Cut & Fill
  • Mechanized Cut & Fill
Backfill type ... Lock
Mine Life... Lock
ShapshotThe San Luis project includes several vein systems cross an area of land whose surface rights are held by two local communities: Ecash and Cochabamba.

In September 2012, Peru’s Ministry of Mines and Energy approved the EIA for the mining operation of the Ayelén deposit. Based on the preliminary and early works the Company conducted in respect of the project in 2017, the EIA now has no expiry date.

On November 29, 2023, the Company entered into a definitive agreement with Highlander Silver Corp. to sell its San Luis project Upon the expected closing of the Transaction in the first quarter of 2024, the Company will receive $5.0 million in cash and up to $37.5 million in contingent payments payable in cash, while retaining a 4% net smelter return royalty on the San Luis project. Assets of $0.8 million, included in Prepaid and other current assets, and liabilities of $0.7 million, included in Accrued liabilities and other, were classified as held for sale as of December 31, 2023.


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.



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Deposit type

  • Epithermal
  • Vein / narrow vein
  • Volcanic hosted


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 better mineralized of the known vein structures. Trenching and diamond drilling have traced this structure along a strike of 340° to 345° for a length of over 720m, with down-dip extensions of more than 325m. Surface mapping shows that the vein structure dips -75° to -85° west-southwesterly, but drilling results show that the controlling fault structure(s), subsurface individual vein segments and post-mineral dikes dip vertically to -80° west-southwesterly. True thicknesses of individual vein segments vary from ten’s of centimeters to more than 10m, with an average of 1.5m to 3.0m wide.

The Inéz vein, which is situated approximately 110m east of the Ayelén vein, strikes northwesterly at 320° to 340° and dips -50° to -75° to the northeast. The vein outcrops as a series of discontinuous resistant ridges for more than 2,200m along strike, with apparent widths of 2.0m to 7.5m. However, only a relatively short section of the Inéz vein contains significant amounts of gold and silver, and this section occurs where the Inéz vein is closest to the Ayelén vein.



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Mining Methods


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Crushers and Mills


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CommodityUnitsAvg. AnnualLOM
Gold oz 78,000270,031
Silver koz 1,9006,455
All production numbers are expressed as metal in doré.

Operational 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.

Production Costs

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.

Operating Costs

UG mining costs ($/t milled) USD 59 *  USD
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2010 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 28.3
Freight costs $M USD 0.3
G&A costs $M USD 22.9
Total OpEx $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 0% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment


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EV - Electric


Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 4, 2010
....................... Subscription required ....................... Subscription required Subscription required Mar 11, 2024


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