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Mexico
Rosario Mine

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 Location:
12 Km SW from Charcas, San Luis Potosí, Mexico

  Regional Office:
Boulevard Ramón G. Bonfil No.439, Zona Plateada
Pachuca de Soto
Hidalgo, Mexico
42084
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StatusCare and Maintenance
Mine TypeUnderground
Commodities
  • Silver
  • Gold
  • Lead
  • Zinc
Mining Method
  • Shrinkage stoping
  • Longhole stoping
Production Start...
Effective October 5, 2021, Santacruz Silver Mining suspended operations at the Rosario Mine and placed it on care and maintenance. This decision was made following an extensive review by management of the Rosario Mine operations and strategic options available including the potential sale of the operation. In December 2021, Santacruz Silver Mining completed the disposal of certain net assets of the Rosario Project. The decommissioning and restoration provision for the Rosario Project continues to remain with Santacruz Silver Mining.


Owners

Source: p. 22
CompanyInterestOwnership
Santacruz Silver Mining Ltd. 100 % Indirect
Subsequent to placing the Rosario Project in care and maintenance, a decision was made to sell any other remaining assets and liabilities related to the Rosario Project, along with related accumulated tax losses, as part of a tax planning strategy. As part of this strategy whereby Impulsora Minera Santacruz, S.A. de C.V.(“IMSC”) would sell certain tax losses, the Company incorporated a new wholly owned subsidiary Mineworks, S.A. de C.V. (“Mineworks”), and transferred from IMSC to Mineworks the remaining assets and liabilities related to the Rosario Project, except for the decommissioning and rehabilitation provision, which remained with IMSC.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Mesothermal


Summary:

Mineralization is hosted in two veins with a general strike of N60W, dipping between 45 to 60 degrees southwest. The host rock of the veins is comprised of the Zacatecas formation, a mid to late Triassic turbidite sequence, consisting of beds of dark grey, green and grayish-green shale, sandstone, conglomerate and siltstone. The veins extend over a length of 2.5 to 3.0 kilometers, and to a depth of at least 150 to 200 meters, as determined from available drilling data (Rodriguez et al., 1987). Each of the Rosario I and Rosario II veins vary in width from 0.4 to 2.5 meters. Mineralization appears to have occurred in three stages, with the third stage precipitating the silver bearing minerals. This deposit has been described as a mesothermal vein system based on temperature (195 to 338°C), although mineralization is typical of other deposits in Mexico which are described as epithermal. Abundant sulfides, sphalerite pyrite and galena with subordinate amounts of chalcopyrite, arsenopyrite and hematite, can be found within the veins. Additional minerals identified through electron microscopy include freibergite, tetrahedrite, boulangerite, pyrargyrite, argentite, stromeyerite, and diaphorite (Rodriguez et al., 1987).

The Rosario Veins at the Rosario Project are vein filled faults defined as mesothermal within epithermal limits.

Based on fluid inclusion work in quartz and calcite, Palacios and Arriaga (1994) postulated that the mineralization in the Rosario ........


Mining Methods

  • Shrinkage stoping
  • Longhole stoping


Summary:

The Rosario Project currently includes the Rosario Mine and the Membrillo Prospect. The Company suspended operations at the Cinco Estrellas property in late 2017.

At the Membrillo Prospect the Company completed access to Levels 1, 2 and 3 on the main Membrillo vein as well as on the San Rafael vein.

Current primary source of mill feed is the Membrillo Prospect, a mesothermal, low sulphidation polymetallic vein system of Ag, Au, Zn and Pb that carries to surface.

Management remains focussed on increasing tonnes of mineralized material processed at the milling facility with the objective of reaching 400 tpd before the end of Q3 2020 with improved head grades. Additional mining equipment (two sccoptrams) was procured for the project in the second quarter of 2020 which should result in an increase of production towards the target amount.

Management is continuing to seek cost savings measures and on the technical side has changed to horizontal mining on the veins from previously mining the veins vertically with a view to realizing better dilution control.


Crushing and Grinding


Processing

Source: Subscription required

Summary:

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Production:
In October 2021, Santacruz Silver Mining ceased operations at the Rosario Mine and placed it on care and maintenance.

CommodityUnits2021202020192018201720162015
Silver oz  ......  Subscription required  ......  Subscription required  ......  Subscription required74,981112,663425,838471,893
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Lead t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Zinc t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Silver Equivalent oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Tonnes milled  ......  Subscription required  ......  Subscription required76,088 t61,184 t78,963 t91,852 t
Daily milling rate  ......  Subscription required  ......  Subscription required
Daily milling capacity  ......  Subscription required  ......  Subscription required500 t
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Reserves at December 1, 2012:
The decision to commence production at the Rosario Mine and Membrillo Prospect were not based on a feasibility study with mineral reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this decision. Production and economic variables may vary considerably due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.

CategoryTonnage CommodityGradeContained Metal
Measured 270 kt Silver 210.1 g/t 1,825 koz
Measured 270 kt Gold 0.94 g/t 8,162 oz
Measured 270 kt Lead 1.17 % 6,952 k lbs
Measured 270 kt Zinc 3.69 % 21,997 k lbs
Measured 270 kt Silver Equivalent 381 g/t 3,306 koz
Indicated 711 kt Silver 162.7 g/t 3,718 koz
Indicated 711 kt Gold 0.882 g/t 20,159 oz
Indicated 711 kt Lead 1.18 % 18,430 k lbs
Indicated 711 kt Zinc 2.6 % 40,690 k lbs
Indicated 711 kt Silver Equivalent 303 g/t 6,931 koz
Measured & Indicated 981 kt Silver 175.7 g/t 5,543 koz
Measured & Indicated 981 kt Gold 0.898 g/t 28,320 oz
Measured & Indicated 981 kt Lead 1.17 % 25,383 k lbs
Measured & Indicated 981 kt Zinc 2.9 % 62,687 k lbs
Measured & Indicated 981 kt Silver Equivalent 325 g/t 10,236 koz
Inferred 386 kt Silver 90.6 g/t 1,126 koz
Inferred 386 kt Gold 0.81 g/t 10,053 oz
Inferred 386 kt Lead 0.73 % 6,206 k lbs
Inferred 386 kt Zinc 2.1 % 17,874 k lbs
Inferred 386 kt Silver Equivalent 203 g/t 2,523 koz

Commodity Production Costs:

CommodityUnits202120202019201820172016
Cash costs (sold) Silver Equivalent USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 34.3 / oz   21.8 / oz   12.2 / oz  
All-in sustaining costs (sold) Silver Equivalent USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 39.4 / oz   26 / oz   15.4 / oz  
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Operating Costs:

Units2021202020192018201720162015
Total operating costs ($/t milled) USD 75.172.375.393.672.481.292.6

Financials:

Units20202019201820172016
Revenue M USD  ......  Subscription required  ......  Subscription required 2.3   4.2   10.9  
Gross profit M USD  ......  Subscription required  ......  Subscription required -4.6   -3.2   1.2  
Operating Income M USD  ......  Subscription required  ......  Subscription required -6.1   -18   1.2  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required -6.1   -18   1.2  



Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 11, 2022
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Financial Review 2018
Management Discussion & Analysis 2018
Financial Review 2017
Management Discussion & Analysis 2017
Financial Review 2016
Management Discussion & Analysis 2016
Press Release 2016
Annual Information Form 2015
Annual Information Form 2015
Management Discussion & Analysis 2015
Technical Report 2012
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