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United States
Shafter Project

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 Location:
62 km SW from Presidio, Texas, United States

  Project Contacts:
97243 Us Hwy 67
Marfa
Texas, United States
79843
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Overview

StatusCare and Maintenance
Mine TypeUnderground
Commodities
  • Silver
Mining Method
  • Bench stoping
  • Room-and-pillar
Mine Life3.7 years (as of Jan 1, 2018)
The Shafter Project is fully permitted, has a 1,500 ton per day (tpd) processing facility on-site and significant underground development accessing the deposit. Managements intends to conduct a drill program with the goal of increasing the size of the deposit. Specific details of the drill program will be released under separate cover in the near future.

The Shafter project is currently in care and maintenance and potential development and/or re-start activities will be evaluated once the results of the drill program have been evaluated and as commodity prices permit.


Owners

Source: p. 2
CompanyInterestOwnership
Aurcana Silver Corp. 100 % Indirect
Aurcana owns 100% of the Shafter project through its wholly owned subsidiary, Rio Grande Mining Company (“RGMC”).

Contractors

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Deposit Type

  • Manto
  • Vein / narrow vein
  • Carbonate hosted


Summary:

The Shafter silver deposit is considered an example of a polymetallic replacement deposit. Because of their irregular, but sharp contact with the enclosing carbonate host rocks, deposits of this type have been categorized as high-temperature, carbonate-hosted deposits.

Polymetallic deposits consist of massive lenses and (or) pipes, known as mantos or replacement orebodies, and veins of iron, lead, zinc, and copper sulfide minerals that are hosted by and replace limestone, dolomite, or other sedimentary rocks; most massive ore contains more than 50 percent sulfide minerals. Sediment-hosted ore commonly is intimately associated with igneous intrusions in the sedimentary rocks. Emplacement of these intrusions triggered ore formation and they host polymetallic veins and disseminations that contain iron, lead, zinc, and copper sulfide minerals. Some polymetallic replacement deposits are associated with skarn deposits in which host carbonate rocks are replaced by calc-silicate±iron oxide mineral assemblages. Most polymetallic vein and replacement deposits are zoned such that copper-gold ore is proximal to intrusions, whereas lead-zinc-silver ore is laterally and vertically distal to intrusions.

The mineralized material consists of a massive aggregate of medium-grained, vuggy silica stained with varying amounts of iron and manganese oxides. Mineralogy is fairly consistent within the district. The mineralization originally consisted of sulfide minerals, which ar ........


Mining Methods

  • Bench stoping
  • Room-and-pillar


Summary:

The relatively sub-horizontal geometry and the thickness of the mineralization suggested the use of room and pillar as the primary mining method. Longhole slashing, benching and partial pillar recovery would be employed as needed during the secondary extraction phase. A minimum mining height of 8 ft was included in the resource modeling to allow sufficient height for personnel and mechanized equipment. Areas with thickness over 15 or 20 ft can be mined using the secondary extraction methods listed above, or another variation of conventional room-and-pillar mining.

Mine design for primary extraction is based on 6.8 oz Ag/ton cutoff grade. Block grades for the stopes is the block diluted grade of the 10 ft x 10 ft x 8 ft block with a cutoff of 6.8 oz Ag/ton. The minimum mining height is 8 feet with basic heading size of 28 ft wide. Average height for the above cutoff resource base is 12 ft. Stopes were formed by successive re-blocking of the block model at higher cutoffs. The average stope width is estimated to be 140 ft from the selected resource blocks. Pillars are planned to be 24 ft by 24 ft. These stope dimensions yield a primary extraction ratio of 78%. Secondary extraction involve mining half of the pillars. Overall extraction increases to 89%, assuming half the pillar marterial is recoverable.

Once the primary extraction sequence in each work area is complete, secondary extraction would include combinations of: slashing pockets of back materi ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsDailyAvg. AnnualLOM
Silver koz 5.31,8376,559
All production numbers are expressed as metal in doré.
Subscription required - Subscription is required.

Operational Metrics:

Metrics
Daily ore mining rate 600 tons *
Ore tonnes mined, LOM 748.7 k tons *
Daily processing rate 600 tons *
Annual processing rate 210,000 tons *
Annual mining rate 210,000 tons of ore *
* According to 2018 study.

Reserves at December 11, 2015:
Mineral Resources are reported at a 4 oz Ag/ton cut-off grade in consideration of potential underground mining and conventional mill processing.

CategoryTonnage CommodityGradeContained Metal
Measured 100 k tons Silver 8.73 oz/ton 888 koz
Indicated 1,110 k tons Silver 9.15 oz/ton 10,171 koz
Measured & Indicated 1,210 k tons Silver 9.14 oz/ton 11,059 koz
Inferred 870 k tons Silver 7.47 oz/ton 6,511 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Silver USD 10.4 / oz *  
Assumed price Silver USD 18.5 / oz *  
* According to 2018 study / presentation.

Operating Costs:

Units2018
UG mining costs ($/ton milled) USD 56.8 *
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2018 study.
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2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 16.8
G&A costs $M USD 6.5
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $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
After-tax NPV @ 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
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Proposed Heavy Mobile Equipment as of July 11, 2018:
HME TypeSizeQuantity
Jumbo ....................... Subscription required
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....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 18, 2023
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Corporate Filings & Presentations:

DocumentYear
Management Discussion & Analysis 2022
Preliminary Economic Assessment 2018
Preliminary Economic Assessment 2016
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