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Peru
Florida Canyon Project

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 Location:
12 km NW from Pedro Ruiz, Peru

  Project Contacts:
Av. Circunvalación del Golf los Incas 170 Santiago de Surco
Lima
Peru
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WebsiteWeb
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  • Overview
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  • Mining
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Overview

StagePreliminary Economic Assessment
Mine TypeUnderground
Commodities
  • Zinc
  • Lead
  • Silver
Mining Method
  • Mechanized Cut & Fill
  • Drift & Fill
  • Sub-level stoping
  • Longhole stoping
  • Cemented backfill
Mine Life12.5 years (as of Jan 1, 2017)
The Project name was changed in 2017 from Bongará, as it was called previously, to Florida Canyon.


Owners

Source: p. 14, 89
CompanyInterestOwnership
Solitario Zinc Corp. 39 % Indirect
Nexa Resources S.A. 50.93 % Indirect
Nexa Resources Perú S.A.A. (operator) 61 % Indirect
Minera Bongará S.A. (operator) 100 % Direct
The Florida Canyon Zinc Project is owned by Minera Bongará S.A and operated by Nexa Peru, a joint venture between Solitario Zinc Corp. (“Solitario”) and Nexa in existence since 2006. Nexa Peru owns 61.0% of Minera Bongará S.A., with Solitario holding the remaining 39.0% ownership interest.

Nexa Resources S.A. owns 83.55% interest in Nexa Peru and therefore holds 50.93% of Florida Canyon Zinc project.

Contractors

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Deposit Type

  • Mississippi Valley Type


Summary:

The zinc-lead-silver mineralization of the Florida Canyon deposit occurs as sulfides hosted in dolomitized zones of the Chambara 2 Formation. Dolomite paragenesis and later sulfide mineralization are controlled by a combination of porosity, permeability and structural preparation. Metals occur in sphalerite and lesser galena, which contains silver. Minor mineralization is hosted in limestones, but the bulk of sphalerite and galena is hosted in dolomite.

In a number of core samples, the mineralization has very sharp contacts along the dolomitization boundary. Characteristic mineralization textures include massive and disseminated mantos, mineralization in dissolution breccias, collapse breccias and pseudobreccias. The different breccias and vein types are structurally controlled by faults of north-south and northeast- southwest direction.

The mineralization is characterized by the presence of sphalerite, galena and locally pyrite. Sulfide replacements occur in dolomitized limestone of variable grain sized and in solution breccias with white dolospar and lesser amounts of late generation calcite. Pyrite content is generally low, with percentages averaging less than 2% by volume. Sphalerite in mineralized sections has variable grain size from 0.1 to greater than 5 mm, with colors ranging from dark brown through reddish brown to light brown. It occurs as individual crystals or in massive form, sometimes displaying colloform textures with bands of sli ........


Mining Methods

  • Mechanized Cut & Fill
  • Drift & Fill
  • Sub-level stoping
  • Longhole stoping
  • Cemented backfill


Summary:

Various factors are considered in the selection of an appropriate mining method to exploit a mineralized zone. The factors include, but are not limited to, the geometry, depth, mineralogy, continuity of mineralization, geotechnical conditions, hydrological conditions, value of the mineral, and environmental factors. Considering these parameters for the Florida Canyon project, the following underground methods are suitable for application.

• Sublevel Stoping (Longhole Stoping) for the steeply dipping bodies identified as F1 and SAM.
• Mechanized Cut and Fill for the moderate dipping bodies.
• Drift and Fill for the flat to moderate dipping bodies where more than one cut is required due to the width of the zone.

Approximately 26% of the mining resource will be mined using longhole stoping in the SAM and F1 areas with the remaining mined using mechanized drift and fill and cut and fill. Cemented paste fill and cemented rock fill will be used to backfill primary stopes. Mine development waste will be used in secondary stopes with some secondaries backfilled with low content cemented paste fill where required.

Longhole Stoping
Sublevels in the longhole areas will be developed at 16 m intervals. Stopes less than 8 m wide will be mined longitudinally (along strike) with stopes greater than 8 m wide mined transversely (perpendicular to strike). Ramp, main haulage, and cross-cut development will be in the footwall. Haulage drifts have ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Zinc Concentrate kt 1,491
Zinc Metal in concentrate M lbs 1,643
Lead Concentrate kt  ......  Subscription required
Lead Metal in concentrate M lbs  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required
Zinc Payable metal M lbs 131
Lead Payable metal M lbs  ......  Subscription required
Silver Payable metal koz  ......  Subscription required

Operational Metrics:

Metrics
Daily mining rate 2,601 t *
Daily ore mining rate 2,076 t *
Waste tonnes, LOM 2,828,197 t *
Ore tonnes mined, LOM 11,186,701 t *
Total tonnes mined, LOM 14,014,897 t *
Daily production capacity 287 t of zinc concentrate *
Daily production capacity 46 t of lead concentrate *
Daily processing rate 2,500 t *
Annual ore mining rate 912,500 t *
* According to 2017 study.

Reserves at October 30, 2020:
Mineral Resources are reported using a cut-off values of US$41.40/t NSR for SLS, US$42.93/t for C&F and US$40.61/t for Room & Pillar mine areas. Forecast long-term metal prices used for the NSR calculation are: Zn: US$2,816t (US$1.27/lb); Pb: US$ 2,196.5/t (US$1.00/lb) and Ag: US$19.40/oz. Minimum thickness are 3.0m for SLS and C&F, and 4.0 m for R&P.

CategoryTonnage CommodityGradeContained Metal
Measured & Indicated 2.44 Mt Zinc 10.63 % 259.3 kt
Measured & Indicated 2.44 Mt Lead 1.34 % 32.7 kt
Measured & Indicated 2.44 Mt Silver 15.07 g/t 1,182 koz
Inferred 14.86 Mt Zinc 9.63 % 1,431 kt
Inferred 14.86 Mt Lead 1.26 % 187.2 kt
Inferred 14.86 Mt Silver 11.3 g/t 5,399 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Zinc USD 0.47 / lb *†  
Total cash costs Zinc USD 0.51 / lb *†  
All-in sustaining costs (AISC) Zinc USD 0.57 / lb *†  
All-in costs Zinc USD 0.73 / lb *†  
Assumed price Lead USD 1 / lb *  
Assumed price Zinc USD 1.2 / lb *  
Assumed price Silver USD 16.5 / oz *  
* According to 2017 study / presentation.
† Net of By-Product.

Operating Costs:

Units2017
UG mining costs ($/t milled) USD 20.4 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2017 study.
Subscription required - Subscription is required.

2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 144.1
G&A costs $M USD 39.2
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of December 31, 2017:
HME TypeModelSizeQuantity
ANFO Loader ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 27, 2021
....................... Subscription required ....................... Subscription required Subscription required May 27, 2021
....................... Subscription required ....................... Subscription required Subscription required May 17, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
Form 10-K 2018
Technical Report 2017
Technical Report 2014
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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