Mexico

La Colorada Operation

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Categories

Overview

Mine TypeUnderground
Commodities
  • Silver
  • Lead
  • Zinc
  • Gold
  • Copper
Mining Method
  • Cut & Fill
  • Longhole stoping
  • Sub-level stoping
  • Unconsolidated hydraulic fill
Production Start... Lock
Mine Life2036
ShapshotLa Colorada property consists of three underground silver-lead-zinc mines named Candelaria, Estrella, and Recompensa (collectively, the La Colorada Vein Mine). Underground mining at the La Colorada Vein Mine is conducted at the Candelaria and Estrella mines, whereas no mining is currently taking place at the Recompensa mine. The La Colorada process plant contains two separate circuits: one for the treatment of sulphide ore and another for oxide ore.

Pan American Silver completed the new concrete-lined ventilation shaft for the La Colorada mine on schedule in December 2023. The installation of two exhaust fans on the surface of the shaft is on schedule to be completed by mid-2024.

The La Colorada Property also hosts the large polymetallic skarn exploration project discovered in 2018. During 2023, the Company invested in project capital to advance the La Colorada Skarn project, largely for exploration preliminary economic assessment ("PEA") which was announced on December 18, 2023.
Related Asset

Owners

SourceSource
CompanyInterestOwnership
Pan American Silver Corp. 100 % Indirect
Plata Panamericana S.A. de C.V. (operator) 100 % Direct
Pan American is the 100% owner of the La Colorada Property through its wholly owned subsidiary, Plata Panamericana S. A. de C.V.

Contractors

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Deposit type

  • Epithermal
  • Vein / narrow vein

Summary:

La Colorada Vein Mine is considered a typical hydrothermal polymetallic deposit located in a region with significant silver and base metal production from well-known vein and skarn deposits.

The La Colorada Vein Mine’s intermediate sulphidation epithermal vein model considered for exploration and mineral resource and reserve estimation transitions from silver-rich mineralization at surface to more base metalrich mineralization at depth.

Epithermal Vein Mineralization
Fractures and faults formed during the D1 to D3 deformation events acted as conduits for emplacement of epithermal vein mineralization. There are three ENE to E-W-trending principal vein structures which, from NW to SE, are named Recompensa, Amolillo and NC-HW. Each vein has second order sub-parallel splays and duplexes, and there are also several NW- to WNW-trending veins. In general, the principal veins are strongly brecciated, locally oxidized, and often exhibit irregular vein boundaries. Most of the mineralization of economic significance is located in quartz veins that average 1 metre to 2 metres wide, but may be significantly wider. The vein fillings consist of quartz, calcite, and locally barite and rhodochrosite. Galena, sphalerite, pyrite, native silver, and silver sulphosalts are present in unoxidized veins. The major mineralized veins are strongly brecciated and locally oxidized. Amolillo strikes over 1.5 km to the northeast and dips 60° to the southeast, for over 800 metres down dip. The average vein width is 2.2 metres. The NC series of veins lies around 700 m to the southeast of Amolillo. The most significant of these veins, NC2, strikes around 1.2 km to the northeast and dips 75° to the southeast, for over 1 km down dip. The average vein width is 1.9 metres. The HW series is the western continuation of the NC series, strikes east-west, and dips 50° to the south, for over 600 m down dip. The average vein width is 1.8 metres. Veta 3 runs parallel to the HW and NC series, strikes for over 900 m to the northeast, and dips 75° to the northwest, for around 400 m down dip. The average vein width is 1.7 metres. Well banded epithermal textures are rare. Vein breccias generally lack cohesiveness and consequently show very little surface expression. Veins typically occur as narrow feeders with massive sulphides in the upper portion of the system.

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

CommodityProductUnits2024202320222021202020192018
Silver Metal in conc./ doré koz 00000000000000000000000000007,617
Gold Metal in conc./ doré koz 000000000004.4
Lead Metal in concentrate kt 00000000008.8
Zinc Metal in concentrate kt 000000000018
Copper Metal in concentrate kt 00000
^ Guidance / Forecast.

Operational metrics

Metrics202320222021202020192018
Daily milling capacity 000000000000000000001,800 t
Ore tonnes mined 00000000000
Tonnes milled 0000000000000000000726 kt
Waste 000000

Production Costs

CommodityUnits2024202320222021202020192018
Cash costs (sold) Silver USD 000000 0000000 0000000 0000000 0000000 2.99 / oz   2.02 / oz  
All-in sustaining costs (sold) Silver USD 0000000 0000000 0000000 0000000 0000000 4.54 / oz   4.63 / oz  
^ Guidance / Forecast.
Net of By-Product.

Financials

Units2024202320222021202020192018
Capital expenditures (planned) M USD  ....  Subscribe
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 22.5  
Growth Capital M USD  ....  Subscribe  ....  Subscribe
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 64  
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 70.6  
Pre-tax Income M USD 67.4  
After-tax Income M USD 47  

Heavy Mobile Equipment

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Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 4, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 3, 2024
....................... Subscription required ....................... Subscription required Subscription required Apr 3, 2024

EmployeesYear
Subscription required 2022
Subscription required 2021

Aerial view:

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