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Mexico
Ana Paula Project

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 Location:
11 km SE from Apaxtla de Castrejon, Guerrero, Mexico

  Project Contacts:
9600 Prototype Court
Reno
Nevada, United States
89521
Phone  ...  Subscription required
Fax(775) 284 4426
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life7.5 years (as of Jan 1, 2017)
During 2021, the Company paused its active program to market the sale of the Ana Paula project, an exploration and evaluation asset included with the acquisition of Alio. The Ana Paula project no longer meets the criteria to be classified as a disposal group held for sale as at December 31, 2021 and as a discontinued operation for the year ended December 31, 2021.
Latest NewsHeliostar to Acquire a 1.4M Ounce, Permitted Gold Deposit and Option Another 1.7M Ounce Gold Deposit in Mexico     December 5, 2022


Owners

Source: p. 11
CompanyInterestOwnership
Argonaut Gold Inc. 100 % Indirect
The Argonaut owns 100% of the Ana Paula Project as its foreign operations in Mexico.

On July 1, 2020, the Argonaut acquired all of the outstanding common shares of Alio Gold Inc. (“Alio”). Through the acquisition, the Company acquired the Ana Paula project.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Porphyry
  • Skarn
  • Breccia pipe / Stockwork


Summary:

The orogenic deposit model for gold mineralization in the Guerrero Gold Belt (GGB) is considered to be associated with a Pacific Rim style of mineralization as described by Corbett (1998, 2009). GGB mineralization is related to a late Cretaceous to Early Tertiary age skarn porphyry continuum emplaced during a 62 to 66 million year old intrusive event associated with Laramide Compressional Orogeny. Early stage, essentially barren calc-silicate skarn alteration associated with one or more intrusive phases is thought to have developed as a contact metamorphic aureole surrounding hydrated intrusive bodies.

Gold deposition at Ana Paula tends to occur both contemporaneous with and post intrusion, exhibiting at least two mineralizing events. The earliest consists of Au-As-(Bi-Te) disseminated mineralization characterized by progressive mineralization over time through deposition of gold in breccias, stockworks, contact skarn (both endoskarn and exoskarn) and other replacement bodies.

The second mineralization event (Au-Ag-Pb-Zn Hg-Sb) perhaps related to the epithermal style of alteration may be a later hydrothermal phase of the earliest intrusive event (a retrograde overprint?) or may be younger.

The exact timing of gold deposition and the mechanism of deposition within the GGB and at Ana Paula are not yet fully understood and appears to vary among the known deposits, where each deposit shares important characteristics and differences. Intrusions at ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Open pit mining was selected as the method to examine the development of the Ana Paula Project at this time. This is based on the size of the resource, tenor of the grade, grade distribution and topography.

The deposit will be a conventional, open pit, truck-and-shovel operation. A mill feed of approximately 5,000 t/d is planned over an approximate 8-year mine life. There will be pre-strip material in Year -1, with a full production rampup in year 1.

Pit phase designs were developed for Ana Paula using the three pit optimization shells selected earlier.

Equipment sizing for ramps and working benches is based on the use of 63 t rigid frame trucks. The sizing of the ramp is actually sized for the smaller capacity 56 t rigid frame units, as they are slightly wider than the 63 t rigid frame versions. The operating width used for the truck is 5.7 m. This means that single lane access is 17.8 m (2x operating width plus berm and ditch) and double lane widths are 23.5 m (3x operating width plus berm and ditch). Ramp gradients are 10% in the pit for uphill gradients and 8% downhill on the dump access roads. Working benches were designed for 35 to 40 m minimum on pushbacks.

Ana Paula is designed with three phases. The first phase is a starter phase designed to provide early higher grade material for the plant and minimize strip ratio. The second phase expands on the first targeting the larger portion of the ore body. The final phase requires ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 116868
Gold Metal in doré koz 868
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Silver Metal in doré koz  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio 3.25 *
Daily mining rate 24,658 t *
Daily ore mining rate 5,000 t *
Waste tonnes, LOM 43,739,542 t *
Ore tonnes mined, LOM 13,439,891 t *
Total tonnes mined, LOM 57,179,433 t *
Tonnes milled, LOM 13,439,890 t *
Plant annual capacity 1,825,000 t *
Daily processing capacity 4,932 t *
* According to 2017 study.

Reserves at December 31, 2021:
Cut-off grade for reserves is 0.67 g/t Au.
Cut-off grades for resources are 0.6 g/t Au for open-pit and 1.65 g/t Au for underground.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Total 6.5 Mt Gold 2.62 g/t 550 koz
Proven Total 6.5 Mt Silver 5.3 g/t 1,115 koz
Probable Total 6.9 Mt Gold 2.12 g/t 471 koz
Probable Total 6.9 Mt Silver 5.1 g/t 1,139 koz
Proven & Probable Total 13.4 Mt Gold 2.36 g/t 1,021 koz
Proven & Probable Total 13.4 Mt Silver 5.2 g/t 2,254 koz
Measured & Indicated In-Situ (OP) 18 Mt Gold 2.06 g/t 1,195 koz
Measured & Indicated In-Situ (UG) 3 Mt Gold 2.8 g/t 267 koz
Measured & Indicated In-Situ (OP) 18 Mt Silver 4.9 g/t 2,865 koz
Measured & Indicated In-Situ (UG) 3 Mt Silver 4.2 g/t 404 koz
Inferred In-Situ (OP) 0.2 Mt Gold 1.27 g/t 10 koz
Inferred In-Situ (UG) 0.6 Mt Gold 2.07 g/t 41 koz
Inferred In-Situ (OP) 0.2 Mt Silver 8.8 g/t 70 koz
Inferred In-Situ (UG) 0.6 Mt Silver 3.9 g/t 79 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold 513 / oz * &nb
Cash costs Gold USD 489 / oz *†  
All-in sustaining costs (AISC) Gold USD 524 / oz *†  
Assumed price Silver USD 17 / oz *  
Pre-tax break-even price Gold USD 598 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2017 study / presentation.
† Net of By-Product.

Operating Costs:

Units2017
OP mining costs ($/t mined) USD 2.17 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2017 study.
Subscription required - Subscription is required.

2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 272.2
Refining costs $M USD  ......  Subscription required
G&A costs $M USD 34.4
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 7% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
Source: Subscription required


Proposed Heavy Mobile Equipment as of May 16, 2017:
HME TypeModelSizeQuantityLeased or
Contractor
Crane ....................... Subscription required 6 t ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... 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 Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 26, 2017
....................... Subscription required ....................... Subscription required Subscription required May 26, 2017
....................... Subscription required ....................... Subscription required Subscription required May 16, 2017
....................... Subscription required ....................... Subscription required Subscription required Mar 16, 2022
Subscription required - Subscription is required.

Staff:

ContractorsYear
Subscription required 2017

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Annual Information Form 2018
Corporate Presentation 2018
Financial Review 2018
Pre-Feasibility Study Report 2017
Press Release 2017
Preliminary Economic Assessment 2016
Subscription required - Subscription is required.

News:

NewsDate
Heliostar to Acquire a 1.4M Ounce, Permitted Gold Deposit and Option Another 1.7M Ounce Gold Deposit in Mexico December 5, 2022

Subscription required - Subscription is required.

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