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Mexico
Caballo Blanco Project

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 Location:
49 km NE from Xalapa, Veracruz, Mexico

  Project Contacts:
San Jerónimo 595-401 Colonia San Angel Tizapán
México City
Mexico, Mexico
01090
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life8 years (as of Jan 1, 2012)
Advanced stage exploration. Historical (2012) PEA(2) on La Paila envisaged 100koz pa open pit/heap leach operation over 8 year mine life.


Owners

Source: p. 1
CompanyInterestOwnership
Candelaria Mining Corp. 100 % Indirect
Minera Caballo Blanco S.A. de C.V. is a 100% wholly-owned Mexican subsidiary of Candelaria Mining Corp.

Contractors

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Deposit Type

  • Epithermal


Summary:

The Caballo Blanco property and Almaden Minerals neighboring El Cobre property includes at least two distinct deposit types, defined as high-sulphidation epithermal gold and porphyry copper gold respectively.

The Caballo Blanco property lies at the eastern end of the Trans Mexican Volcanic Belt and is underlain by sub-aerial basalts, andesites and diorite dykes of Miocene age that are in turn covered by a sequence of felsic quartz tuffs, andesitic ‘dome’ complexes, volcaniclastics and younger intrusive dacitic plugs. Capping the volcanic package are Pliocene alkaline basalt flows that are commonly well preserved as small flat highland plateaus.

At least two large areas of epithermal precious metal occur within the current Caballo Blanco property, referred to as the Northern Zone and Highway Zone. Mineralization is confined to altered varieties of upper Miocene andesitic domes and dacitic intrusives.

Northern Zone High-Sulphidation Epithermal Gold Target
Geological mapping, rock chip sampling, geophysical surveying and core drilling have identified a large area of silica and associated silica clay alteration within an andesitic dome complex along the northern portion of the property. Altered feldspar andesites that host gold mineralization are spread over an area of 5 by 4 kilometers and occur in close association to a prominent magnetic ring structure with at least five prominent silica caps forming distinct 600 meter high hilltops. Roc ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

It is proposed that the La Paila deposit is amenable to be developed as an open pit mine. Mining of the deposit is planned to produce a total of 49.3 million tonnes (Mt) of heap leach feed and 81.8 Mt of waste (1.7:1 overall strip ratio) over a seven and a half year mine operating life. The current life of mine (LOM) plan focuses on achieving consistent heap leach feed production rates, mining of higher grade material early in schedule, and balancing grade and strip ratios.

The mining sequence was divided into a number of stages designed to maximize grade, reduce pre-stripping requirements in the early years and maintain the heap leach at full production capacity.

The open pit mining activities for the Caballo Blanco pit were assumed to be primarily undertaken by a mining contractor as the basis for this preliminary economic assessment. An operating bench of 10 meters was assumed for the preliminary mine planning.

The fleet has an estimated maximum capacity of 70,000 t/d total material, which will be sufficient for the life-of-mine (“LOM”) plan.

Two hundred and fifty millimeter diameter blast hole drills are planned to perform the majority of the production drilling in the mine (both mineralized and waste rock), with the 165 millimeter diameter hydraulic drill to be used for secondary blasting requirements and may be used on the tighter spaced patterns required for pit development blasts. The main loading and haulage fleet is pl ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 85,962687,694
Silver oz  ......  Subscription required
All production numbers are expressed as metal in doré.

* According to 2012 study.

Reserves at May 17, 2017:
A cut-off of 0.11 g/t gold has been highlighted as a possible open pit cut-off.

CategoryTonnage CommodityGradeContained Metal
Indicated 31.2 Mt Gold 0.52 g/t 0.52 M oz
Indicated 31.2 Mt Silver 2.16 g/t 2.17 M oz
Inferred 8.6 Mt Gold 0.34 g/t 0.1 M oz
Inferred 8.6 Mt Silver 2.15 g/t 0.59 M oz

Commodity Production Costs:

CommodityUnits2022
Total cash costs Gold USD 783.99 / oz *  USD
Assumed price Silver USD 30 / oz *  USD
Assumed price Gold USD 1,500 / oz *  USD
* According to 2012 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t milled) USD 5.36 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2012 study.
Subscription required - Subscription is required.

2012 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 160.7
Refining and transportation $M USD  ......  Subscription required
G&A costs $M USD 60.1
Total OpEx $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 0% $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines and Water Supply
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Proposed Heavy Mobile Equipment as of May 7, 2012:
HME TypeModelSizeQuantityLeased or
Contractor
Dozer ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... 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 Dec 28, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 28, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2012

Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
................................... Subscription required 2021
................................... Subscription required 2021
Corporate Presentation 2017
Technical Report 2017
Form 40-F 2015
Preliminary Economic Assessment 2012
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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