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Peru
Cotabambas Project

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 Location:
47 km SW from Cusco, Peru

  Project Contacts:
Centro Empresarial Pardo y Aliaga Av. Pardo y Aliaga No. 699, Oficina 803 San Isidro
Lima
Peru
Phone  ...  Subscription required
Fax+51.1.628.5979
EmailEmail
WebsiteWeb
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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
  • Copper
  • Gold
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Processing
  • Flotation
Mine Life18 years (as of Jan 1, 2015)
Latest NewsPanoro Minerals Update on Exploration Plans at Cotabambas Project, Peru     July 13, 2020


Owners

Source: p. 55
CompanyInterestOwnership
Panoro Minerals Ltd. 100 % Indirect
Panoro Apurimac S.A. 100 % Direct
The Cotabambas Property mining and exploration concessions are 100% held by Panoro through its indirectly wholly-owned Peruvian subsidiary Panoro Apurimac S.A.

Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The Ccalla and Azulccacca zones of the Cotabambas deposit are considered to be examples of porphyry copper deposits. The two host porphyries cover an area about 2.5 km long and 1.5 km wide.

Mineralization occurs in hypogene, supergene enrichment and oxide zones. A welldeveloped leached cap hosts the oxide mineralization. Sulphide mineralization occurs below the base of the leached cap. This zonation is considered to be typical of porphyrystyle copper and porphyry-style copper–gold deposits.

Hypogene mineralization in the Project area has been intersected at depths from approximately 20 m from surface to depths of over 500 m from surface.

Hypogene copper–gold–silver mineralization is best developed with pyrite mineralization in quartz–sericite-altered quartz monzonite porphyry dykes running parallel to the north north-east trending structural corridors at Ccalla and Azulccacca. Mineralization occurs as disseminated chalcopyrite and pyrite, pyrite-chalcopyrite stringers or veinlets and quartz chalcopyrite pyrite veinlets. Local patches of hypogene mineralization are developed in diorite, peripheral to the quartz monzonite porphyry, where the north–northeast-trending structural system passes within 10 to 20 m of the diorite–porphyry contact. Chalcopyrite mineralization intensity decreases and disseminated pyrite mineralization increases distal to the higher grade parts of the hypogene zone.

Sulphide mineralization consists of chalcopyrite and pyrite and gold grades are strongly correlated to copper grades in the hypogene zone. Some occurrences of bornite have been noted in deeper portions of the hypogene zones. Silver grades are not as strongly correlated to copper grades as they are to gold grades, but are generally elevated where copper–gold mineralization is present.

Zones of high-grade chalcocite mineralization with lesser covellite and chalcopyrite occur at the top of the hypogene sulphide mineralization, and at the base of the leached cap. Supergene zones occur at Ccalla and Azulccacca and are characterized by high chalcocite content, correspondingly high cyanide-soluble copper assay grades and total copper grades that are generally >1%.

Oxide mineralization occurs in the leached cap of the Ccalla and Azulccacca deposits. Iron oxides and oxy-hydroxides replace pyrite, and oxide copper–gold mineralization occurs as patches of green copper oxides, typically chrysoscolla, malachite and broncanthite. Copper oxides occur as coatings on disseminated chalcopyrite grains and as fill in fractures and veinlets.

Lenses of oxide copper–gold mineralization having lateral extents of 100 to 200 m and thicknesses of 10 to 50 m have been mapped in outcrop and intersected in core drill holes.

Oxide gold mineralization has been defined in a lens in the Azulccacca area, but has also been intersected in short, isolated 1 to 5 m intervals in other parts of the leached cap of the deposit. Oxide gold mineralization is associated with limonite and occurs near major structures cutting the hypogene sulphide zone that are associated with the quartz monzonite porphyry.


Mining Methods

  • Truck & Shovel / Loader


Summary:

A PEA open pit mine plan is developed for the Cotabambas project.

The PEA mine plan is based on a subset of the Mineral Resources. No mining dilution was incorporated in the plan. The assumed mill feed throughput is 80,000 t/d (29.3 Mt/a)

Two open pits will be mined, in seven pit phases, utilizing 12 m high benches. Cotabambas has a projected life of mine of 18 years, considering one year of prestripping and 17 years of feed to the plant.

A WRF with a maximum capacity of 369 Mm3 will be located in Guaclle Creek. Waste will be transported by truck

The operating fleet will consist of a conventional diesel fleet. Equipment requirements were estimated using first principle calculations

Haulage requirements are based on measured annual haulage profiles from the two pits. The average haulage distance for mineralized material to the primary crusher is 3.3 km. The average haulage distance for waste by trucks is between 3 and 4 km.

The mine plan assume that Cotabambas will operate seven days a week, twentyfour hours per day with four crews rotating to fill the mine roster of 12 hours per shift.

Mine infrastructure includes shops, warehouse, washing and welding bays, fuel stations, explosives magazine and administrative offices.

Main consumables for mine operations include diesel fuel, ANFO, emulsion and tires.


Crushing and Grinding


Processing

  • Flotation

Source: Subscription required

Summary:

The plant design consists of a plant with a nominal processing capacity of 80,000 t/d and it includes crushing, grinding, flotation, concentrate dewatering and tailings disposal.

Mineralized material will be processed in a conventional copper porphyry flotation concentrator plant to produce a copper, gold and silver concentrate, with copper as the main payable metal in the concentrate and gold and silver providing important economic by-product credits.

The process considers a primary crusher, a SAG mill and a ball mill prior to the flotation plant consisting of rougher flotation, regrinding and three cleaner stages. Flotation tailings will be thickened and pumped to a tailings storage facility for disposal and final product concentrate is dewatered for storage and transport to port by trucks.

The selection of the conventional SAG/ball grinding circuit and equipment is based on a typical process flowsheet for this type of mineralization and scale of t ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Copper Recovery Rate, %  ......  Subscription required
Copper Head Grade, % 0.32
Copper Concentrate Grade, %  ......  Subscription required
Gold Recovery Rate, %  ......  Subscription required
Gold Head Grade, g/t 0.18
Gold Concentrate Grade, g/t  ......  Subscription required
Silver Recovery Rate, %  ......  Subscription required
Silver Head Grade, g/t 2.37
Silver Concentrate Grade, g/t  ......  Subscription required
Subscription required - Subscription is required.

Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Metal in concentrate M lbs 2,638
Gold Metal in concentrate M oz  ......  Subscription required
Silver Mineral in concentrate M oz  ......  Subscription required
Copper Concentrate t 270,000

Operational Metrics:

Metrics
Stripping / waste ratio 1.25 *
Waste tonnes, LOM 604.2 Mt *
Ore tonnes mined, LOM 483.1 Mt *
Total tonnes mined, LOM 1,161 Mt *
Plant annual capacity 29.2 Mt of ore *
Daily processing capacity 80,000 t of ore *
* According to 2015 study.

Reserves at December 31, 2015:

CategoryTonnage CommodityGrade
Indicated 117.1 Mt Copper 0.42 %
Indicated 117.1 Mt Gold 0.23 g/t
Indicated 117.1 Mt Silver 2.74 g/t
Indicated 117.1 Mt Molybdenum 0.0013 %
Inferred 603.5 Mt Copper 0.31 %
Inferred 603.5 Mt Gold 0.18 g/t
Inferred 603.5 Mt Silver 2.33 g/t
Inferred 603.5 Mt Molybdenum 0.0019 %

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Copper USD -0.94 / lb
C1 cash costs Copper USD 2.16 / lb *
C1 cash costs Copper USD 1.22 / lb *†
C2 total cash costs Copper USD 1.94 / lb *†
Assumed price Molybdenum USD 12.5 / lb *
Assumed price Copper USD 3.2 / lb *
Assumed price Silver USD 23 / oz *
Assumed price Gold USD 1,350 / oz *
* According to 2015 study / presentation.
† Net of By-Product.

Operating Costs:

Units2015
OP mining costs ($/t mined) USD 3.59 *
Processing costs ($/t milled) USD  ......  Subscription required
* According to 2015 study.
Subscription required - Subscription is required.

2015 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 2,116
G&A costs $M USD 196.7
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net Income (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 @ 7.5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7.5% $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.

Proposed Heavy Mobile Equipment as of September 22, 2015:
HME TypeModelSizeQuantity
Crane ....................... Subscription required 250 t 1
....................... Subscription required ....................... Subscription required ....................... Subscription required 4
....................... Subscription required ....................... Subscription required ....................... Subscription required 4
....................... Subscription required ....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required ....................... Subscription required 3
....................... Subscription required ....................... Subscription required ....................... Subscription required 1
....................... Subscription required ....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required ....................... Subscription required 3
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Feb 2, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Preliminary Economic Assessment 2015
Subscription required - Subscription is required.

News:

NewsDate
Panoro Minerals Update on Exploration Plans at Cotabambas Project, Peru July 13, 2020
Panoro Minerals Announces Receipt of Early Deposit Payment from Wheaton Precious Metals for the Cotabambas Project, Peru April 1, 2020
Panoro Minerals Announces Receipt of Early Deposit Payment from Wheaton Precious Metals for the Cotabambas Project, Peru September 24, 2019
Panoro Minerals Drilling Intersects High Grade Mineralization at Chaupec Target, Cotabambas Project, Peru June 5, 2019

Aerial view:

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