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Chile
Salares Norte Project

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 Location:
79 km NE from El Salvador, Chile

  Project Contacts:
Av Presidente Riesco 5561 Piso 7 Las Condes
Santiago
Chile
7550000
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life11.5 years (as of Jan 1, 2018)
Salares Norte is a high-grade, gold-silver open pit project in Chile commencing with mine development and processing facility construction in preparation for first gold in 2023.


Owners

Source: p. 447
CompanyInterestOwnership
Gold Fields Ltd. 100 % Indirect
The Salares Norte project is 100 per cent. owned by Gold Fields through its shareholding in Minera Gold Fields Salares Norte SpA (MGFSN).

Contractors

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Deposit Type

  • Epithermal


Summary:

The Salares Norte project is located in the northern part of the Maricunga Belt; an area with a predominance of Cenozoic volcanic rocks, comprising eroded strato-volcanos, volcanic domes and pyroclastic rocks. Mineralisation is contained in a high-sulphidation epithermal system, hosted mainly by a breccia complex along the contact of two volcanic domes of andesitic and dacitic composition.

Mineral Resources and Mineral Reserves have been delineated by drilling in two separate deposits, Brecha Principal and Agua Amarga, which are located ~500m apart. Most of the mineralisation known to date is oxidised. The sulphide mineralisation contains mainly pyrite, is generally lower grade and lower volume, and has lower processing recovery than the oxide material.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Brecha Principal and Agua Amarga deposits will be mined by a contractor using open-pit mining methods. Mining will occur in six phases over nine years, including two years of pre-stripping, starting in Brecha Principal and finishing in Agua Amarga. Ultimately, the two pits will merge into a single pit due to the backslope. Waste will be placed in either the south or north WSF. All ore will be hauled to either the RoM pad or one of the grade-bin stockpiles, south of the pits.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold M oz 3.2*
Silver M oz  ......  Subscription required*
Gold Equivalent koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio 13.9 *
Waste tonnes, LOM 308.8 Mt *
Ore tonnes mined, LOM 22.2 Mt *
Total tonnes mined, LOM 331 Mt *
Plant annual capacity 2 Mt *
* According to 2018 study.

Reserves at December 31, 2021:
Mineral Resources NSR for mill feed US$47.48/t
Mineral Reserves NSR for mill feed US$47.69/t

CategoryTonnage CommodityGradeContained Metal
Probable 20,763 kt Gold 5.19 g/t 3,467 koz
Probable 20,763 kt Silver 58.4 g/t 38,990 koz
Indicated 26,424 kt Gold 4.63 g/t 3,933 koz
Indicated 26,424 kt Silver 52.86 g/t 44,907 koz
Inferred 2,649 kt Gold 1.67 g/t 142 koz
Inferred 2,649 kt Silver 10.89 g/t 928 koz
Total Resource 29,074 kt Gold 4.36 g/t 4,075 koz
Total Resource 29,074 kt Silver 49.03 g/t 45,835 koz

Commodity Production Costs:

CommodityUnitsAverage
All-in sustaining costs (sold) Gold Equivalent USD 545 / oz *  
All-in costs Gold Equivalent USD 785 / oz *  
Assumed price Silver USD 17.5 / oz *  
Assumed price Gold USD 1,300 / oz *  
* According to 2018 study / presentation. http://www.minesandprojects.com/reports/annual/Gold_Filed_F20_2018.pdf P.65

2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Pre-tax NPV @ 7.5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 17, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 25, 2022
....................... Subscription required ....................... Subscription required Subscription required Apr 17, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Quarterly Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Form 20-F 2018
Year-end Mineral Reserves 2018
Form 20-F 2017
Year-end Mineral Reserves 2017
Integrated Report 2015
Year-end Mineral Reserves 2015
Other 2014
Subscription required - Subscription is required.

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