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Mexico
La Verde Project

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 Location:
8 km S from Lombardia, Michoacán, Mexico

  Project Contacts:
Suite 555
999 Canada Place
Vancouver
British Columbia, Canada
V6C 3E1
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StatusCare and Maintenance
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life19 years (as of Jan 1, 2018)
La Verde has been on care and maintenance since 2016 and Solaris Resources Inc. does not currently have exploration plans for it.


Owners

Source: p. 2
CompanyInterestOwnership
Teck Resources Ltd. 40 % Indirect
Solaris Resources Inc. 60 % Indirect
Solaris Resources Inc. holds a 60% interest in the La Verde Copper Property through its wholly owned Mexican subsidiary Minera Hill 29, S.A de C.V (MinHill). MinHill beneficially owns 60% of the common shares of Minera Torre de Oro, S.A.P.I de C.V. (MTO), a Mexican corporation and the holder of the Property. The remaining 40% of the common shares of MTO are held by a wholly owned subsidiary of Teck Resources Limited.

Contractors

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Deposit Type

  • Breccia pipe / Stockwork
  • Porphyry
  • Vein / narrow vein


Summary:

The intrusive complex at La Verde is dominated by quartz diorite, which is exposed along an east-west-trending arcuate mountain range roughly 5.5 km long, 1 km wide, and up to 290 m above the surrounding blanket of Quaternary sediments.

The East Hill contains four main copper mineralized zones. Three of these zones (#1, #3, and #4) are hosted within altered and brecciated quartz diorite in close proximity to dykes and stocks of quartz-feldspar porphyry, while the fourth zone (#2) is hosted largely within unbrecciated quartz-feldspar porphyry. All four mineralized zones form a roughly circular pattern on the western half of the East Hill, in a plan view. Brecciation mechanisms on the East Hill vary from mechanical milling to hydrothermal cracking. Alteration tends to be fairly tightly restricted to zones of brecciation, except in the case of large-scale calcium-sodium metasomatism within quartz diorite adjacent to quartz-feldspar porphyry. Potassic feldspar alteration was noted in drillholes located on the north side of the East Hill.

The West Hill is characterized by approximately east-west trending bands of phyllic / propylitic alteration with associated pyrite-chalcopyrite ±arsenopyrite pyrrhotite veining at the contact between quartz diorite porphyry and equigranular quartz diorite. The lateral extent of these mineralized east-west striking veins forms a north-northeast south-southwest trending roughly elliptical shaped mineralized body, in a plan vie ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The La Verde project lends itself to a conventional truck and shovel open pit mining method.

The conceptual mining schedule calls for ex-pit mining rates of Ktonne/day during Year 1, 264 Ktonne/day from Year 2 to 4, and an average of 296 Ktonne/day from Year 5 to 18.

For this size of mining operation and the selectivity required in this type of deposit, large size mining equipment is proposed. Both productivities and costs have been estimated on the following operational scheme:
• Drilling and Blasting on 15 m benches.
• Primary loading with rope and hydraulic shovels.
• Use of 225 tonnes haul trucks.
Use of electric equipment (primary drills and rope shovels) is considered.

The open pits were scheduled using the Milawa algorithm which is part of the Whittle Four-X package. Highlights of the selected mining schedule are:
• The selected schedule calls for 21 years of mining activity; in Year -1, 65 million tonnes are pre-stripped, open pit mining occurs between Year 1 and Year 19, and stockpile reclaiming in Years 20 and 21.
• Metal prices and mill recoveries are the same as those used for NSR calculation and pit optimization.


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsLOM
Copper kt 7,169
All production numbers are expressed as concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio 3.1 *
Daily mining rate 296 kt *
Waste tonnes, LOM 1,350 Mt *
Ore tonnes mined, LOM 588 Mt *
Total tonnes mined, LOM 2,054 Mt *
Tonnes milled, LOM 588 Mt *
Annual milling capacity 30 Mt *
Annual mining rate 105 Mt *
* According to 2018 study.

Reserves at September 19, 2012:
Cut-off grade is 0.2% Cu for resources.

CategoryTonnage CommodityGradeContained Metal
Measured 57,527 kt Copper 0.45 % 570.713 M lbs
Measured 57,527 kt Gold 0.05 g/t
Measured 57,527 kt Silver 2.94 g/t
Indicated 350,442 kt Copper 0.4 % 3,098 M lbs
Indicated 350,442 kt Gold 0.03 g/t
Indicated 350,442 kt Silver 2.33 g/t
Measured & Indicated 407,969 kt Copper 0.41 % 3,669 M lbs
Measured & Indicated 407,969 kt Gold 0.03 g/t
Measured & Indicated 407,969 kt Silver 2.42 g/t
Inferred 337,838 kt Copper 0.37 % 2,748 M lbs
Inferred 337,838 kt Gold 0.02 g/t
Inferred 337,838 kt Silver 1.94 g/t

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Copper USD 2.7 / lb *  
Assumed price Silver USD 25 / oz *  
Assumed price Gold USD 1,200 / oz *  
* According to 2018 study / presentation.

Operating Costs:

Units2018
OP mining costs ($/t mined) USD 1.66 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
* According to 2018 study.
Subscription required - Subscription is required.

2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 3,629
Refining costs $M USD  ......  Subscription required
Freight costs $M USD 452
G&A costs $M USD 212
Income Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (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 @ 8% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of June 20, 2018:
HME TypeSizeQuantity
ANFO Loader ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 20, 2018
....................... Subscription required ....................... Subscription required Subscription required Jun 20, 2018
....................... Subscription required ....................... Subscription required Subscription required Nov 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 14, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2018

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
Technical Report 2018
Management Discussion & Analysis 2017
Preliminary Economic Assessment 2014
Preliminary Economic Assessment 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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