Peru

Cotabambas Project

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Categories

Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Copper
  • Gold
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life17 years (as of Jan 1, 2015)
ShapshotIn the first quarter of 2022 Panoro commenced work to support the prefeasibility study for the Cotabambas Project. The work began with step-out and infill drilling programs which also included technical and environmental studies. The work programs will continue to the end of 2022 with additional drilling contemplated in 2023. Additionally in 2022, technical studies including an update to geologic modelling, geo-metallurgical modelling, metallurgical testing, geotechnical and hydrogeological studies have begun.

In addition to the pre-feasibility drilling program Panoro is scoping the engineering, environmental and social studies to support the pre-feasibility work program. Metallurgical, tailings trade off, and open pit geotechnical studies planned for completion in 2022 in support of the pre-feasibility study planned for completion in 2023.

Owners

SourceSource
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.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 2,638
Gold Payable metal M oz 1.6
Silver Payable metal M oz 17
Copper Concentrate kt 270

Operational metrics

Metrics
Daily ore mining rate 80,000 t *
Daily processing capacity 80,000 t *
Annual ore mining rate 29.3 Mt *
Annual mining capacity 116 Mt *
Plant annual capacity 29.2 Mt *
Stripping / waste ratio 1.25 *
Waste tonnes, LOM 604.19 Mt *
Ore tonnes mined, LOM 483.08 Mt *
Total tonnes mined, LOM 1,161 Mt *
Tonnes processed, LOM 483.07 Mt *
* According to 2015 study.

Production Costs

CommodityUnitsEstimated
Credits (by-product) Copper USD 000
C1 cash costs Copper USD 000
C1 cash costs Copper USD 0000000
C2 total cash costs Copper USD 0000000
Assumed price Molybdenum USD 000
Assumed price Copper USD 00
Assumed price Silver USD 00
Assumed price Gold USD 0000
* According to 2015 study / presentation.
Net of By-Product.

Operating Costs

Currency2023
OP mining costs ($/t mined) USD 1.59 *  USD
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
* According to 2015 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 2,116
G&A costs $M USD 196.7
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Net Income (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

Heavy Mobile Equipment

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Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 22, 2015
....................... Subscription required ....................... Subscription required Subscription required Jan 11, 2024

Total WorkforceYear
Subscription required 2015

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