Mining Intelligence and News
Peru

Antilla Project

Click for more information

Categories

Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Copper
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Antilla Copper Project is Calisto Cobre's flagship property.

In June 2018 was published PEA for Antilla Copper Project Heap Leach and SX/EW Operation for the near surface supergene sulphides.

In 2022, the mineral resources of the Antilla deposit were updated.

Calisto Cobre considers that substantial exploration upside opportunities on the Property exist in three broad categories: Supergene Resource Addition, Lateral extensions, Primary Porphyry Exploration.

Calisto is reviewing all available data to refine plans for exploration work under these three broad categories.

Owners

SourceSource
CompanyInterestOwnership
Panoro Minerals Ltd. 21 % Indirect
Calisto Cobre Resources Corp. 79 % Indirect
On December 3, 2021, the Panoro Minerals completed a sale of 75% of its interest in the its subsidiary, Antilla Copper, S.A. which holds the Antilla project. The acquisition payments are staged and the acquiror, Calisto Cobre Resources Corp. (formerly Heeney Capital Acquisition Company) initially acquired 75% of the shares of Antilla Copper.

An additional 15% of the Panoro’s shares in Antilla Copper is to be sold for a contingent $5,293,000 twelve months after the earlier of drilling permits and community land use agreements being obtained or a PFS or FS is completed on the Antilla Project which will result in Calisto Cobre Resources having a 90% interest in Antilla Copper.

On March 4, 2024, Calisto paid a total of $1,978,259 to Panoro in relation to the Antilla receivable, consisting of $1,807,398, the balance of the Second Payment and accrued interest of $170,861.

At June 30, 2024, the Panoro Minerals retains an interest of approximately 21% in Antilla Copper.

Contractors

Lock

- subscription is required.

Deposit type

  • Porphyry
  • Vein / narrow vein

Summary:

Quartzite and quartz-arenite of the Soraya Formation outcrop over most of the central and eastern part of the Property and host the intrusive rocks and mineralization defined to date. The clastic sediments are fine- to medium-grained, well laminated on sub-centimetre to metre scale and occasionally show other primary depositional features such as crossbedding. The quartzite and quartzarenite units can be intercalated with centimetre to ten-centimetre scale siltstone or lutite beds.

At the bottom of the canyon in road cuts on the road up to the town of Antilla from the valley floor, and behind Calvario Hill, the Chuquibambilla Formation is exposed, comprising outcrops of mudstone, lutite and arenite.

Sediments are intruded by at least two intrusive rock types: altered and weakly-mineralized main porphyry (Main Porphyry) stocks or aphophyses, and narrow, unaltered late porphyry (Late Porphyry) dykes. The Main Porphyry is exposed as a prominent knob immediately to the west of the mineralized quartzites, and another, smaller intrusive body is exposed to the southeast of the mineralization.

Mineralization
Mineralization on the Property consists of a tabular body of fracture-controlled and disseminated supergene chalcocite dipping approximately -20o to 140o closely following the hill slope. The supergene chalcocite mineralization has a true thickness of 40 to 80 m. and is overlain by a barren, leached zone of variable thickness. The strongest chalcocite mineralization is associated with brittle faults.

Below the chalcocite dominated supergene mineralization, low-grade vein and disseminated chalcopyrite, and molybdenite mineralization occurs. Uncommon altered, weakly–mineralized, porphyritic felsic intrusives occur in drilling and larger porphyry bodies are known from elsewhere in the Property. The general geometric and mineralogical characteristics of the deposit are consistent with a supergene enrichment blanket associated with an Andean-type copper-molybdenum porphyry system.

Mineralization Style
The most economically significant form of mineralization encountered to date on the Property is fracture-controlled and disseminated chalcocite. The chalcocite occurs as:
• sooty or scaly coatings on millimetre wide, filled to partially open fractures
• sooty coatings on rock fragments and rock flour encountered in intense fracture or fault zones over widths of one to ten metres
• selvages on sub-centimetre width quartz veinlets
• occasionally as disseminated grains or coating disseminated grains of primary chalcopyrite in zones of more intense fracturing and silicification.

Molybdenite occurs in fine fractures and as grains within sub-centimetre wide quartz veinlets in the primary sulphide, secondary sulphide, and Main Porphyry.

Chalcopyrite occurs as disseminated grains and surface coatings along fractures and within quartz veinlets. Disseminated grains are also observed. Chalcopyrite in concentrations of up to 1% occur in the Main Porphyry and primary hypogene sulphide zones.

The Antilla Property displays a suite of veins that can be readily placed within the spectrum of typical porphyry style veins (cf. Sillitoe, 2010). Common A-type quartz-being veins occur within the Main Porphyry lithology and are typically fine-grained sulphide-poor granular quartz (with rare K-feldspar) veins in places with diffuse or sinuous boundaries. These veins have been noted across the Property from the supergene mineral resource area to the far west in the vicinity of ANT-15-04. Common molybdenite-bearing quartz (±pyrite-chalcopyrite) B-veins are noted in intrusive and sedimentary lithologies across the Property. Fine molybdenite-pyrite-chalcopyrite quartz-poor fracture veins are also common throughout the Property and comprise a significant proportion of the primary coppermolybdenum mineralization. Abundant pyrite-bearing D-veins often with prominent sericite-quartz halos are common across the Property. The alteration halos are more prominent in the more reactive host rocks.

Deposit Types
The mineralization identified to date on the Property is consistent with a supergene enrichment blanket associated with an Andean-type copper-molybdenum porphyry system. Porphyry deposits are typically large low to moderate grade deposits that are mined through bulk mining open cut or underground methods. Andean-type examples include Antapaccay, Cerro Verde, Escondida, Trapiche, Quebrada Blanca.

The majority of Andean porphyry deposits are hosted in intermediate to felsic volcanic or intrusive lithologies with a lesser number hosted by sedimentary successions. Antilla is an example of a sedimentary-hosted porphyry deposit, being predominantly hosted within quartz-rich sandstone and lesser shale.

Due to the atypical host succession of the Antilla deposit has a number of characteristics which are not common in porphyry systems in the region or in typical porphyry models (Sillitoe, 2010):
• Alteration at the Antilla Deposit heavily influenced by the lack of aluminous mineral phases of the quartz-sandstone hosting the mineralization. These relatively unreactive host rocks have inhibited the development of alteration minerals that define the zoned patterns typical of porphyry volcanic- or intrusion-hosted porphyry deposits. Widespread quartz-molybdenite Aand B-veins as well as biotite alteration of porphyry and shale host rocks indicate the presence of high temperature fluids typical of porphyry deposits globally. The Haquira deposit displays similar subtle alteration patterns in the quartz-sandstone host rocks and lacks the easily defined zoning patterns typical of volcanic or intrusion hosted deposits (Cernuschi, 2015)
• A well-developed hypogene or primary sulphide mineralization zone has not been encountered at the Antilla Deposit. Assays of the primary sulphide zone at the Antilla Deposit grade approximately 0.12% copper and 0.009% molybdenum. The Main Porphyry lithology contains approximately 0.08% copper on average. No large areas of higher-grade hypogene chalcopyrite mineralization have been encountered on the Property. To date, exploration has not located a higher-grade primary porphyry system with which the Antilla Deposit mineralization could be related.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

Lock

- subscription is required.

Production

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 46787
Copper Cathode M lbs 48819

Operational metrics

Metrics
Daily ore mining rate 20,000 t *
Daily processing rate 19,944 t *
Daily processing capacity 20,000 t *
Annual mining rate 16,952 kt *
Annual ore mining rate 7.3 Mt *
Annual processing rate 7.3 Mt *
Stripping / waste ratio 1.38 *
Waste tonnes, LOM 163,439 kt *
Ore tonnes mined, LOM 118,667 kt *
Total tonnes mined, LOM 294,868 kt *
Tonnes processed, LOM 118,667 kt *
* According to 2018 study.

Production Costs

CommodityUnitsAverage
C1 cash costs Copper USD 1.51 / lb *  
C2 total cash costs Copper USD 1.82 / lb *  
Assumed price Copper USD 3.05 / lb *  
* According to 2018 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2018 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 552.7
Transportation (haulage) costs $M USD 4.2
G&A costs $M USD 89
Total OpEx $M USD  ......  Subscribe
Mining Taxes $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Total Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 7.5% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 7.5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Nov 23, 2024
....................... Subscription required ....................... Subscription required Subscription required Jun 11, 2018
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Nov 29, 2024

Aerial view:

Lock

- subscription is required.