Summary

Mine Type	Open Pit
Study Completed	Preliminary Economic Assessment
Stage	Permitting
Commodities	Gold
Mining Method	Truck & Shovel / Loader
Project Timeline	...
Mine Life	...
Snapshot	Preliminary economic assessment (“PEA”) indicate the potential for the Cerro de Oro project to be a low CAPEX, low operating cost heap leach operation. The Cerro de Oro project is planned as a conventional open pit mine. The mine will consist of two open pits denoted the north and south pits. In April 2023, Minera Alamos Inc. completed the documentation necessary to formally proceed with the Cerro de Oro permitting process. The management of the remainder of the permit process is now being handled by the Company's permitting consultants. Concurrent with the permitting, the Company is planning additional drilling and metallurgical work that will inform the final operational plan for the proposed mine. Detailed engineering for the development of the mine is ongoing.

Deposit type

• Porphyry
• Vein / narrow vein

Summary:

Mineralization at the Cerro de Oro deposit is typical of a porphyry system and is characterized by the development of A and B veins. These veins developed during an early potassic alteration phase and were later overprinted by silica and sericite (phyllic overprinting) within the inter-mineral porphyritic intrusive phases. These phases form part of the overall intrusive complex.

Mineralization at the Project scale occurs within a granodioritic porphyritic stock and within its calcareous host rocks. Within the calcareous host rock zone are blocks of highly garnetized limestone that are part of the Indidura Formation. These sedimentary rocks have been uplifted by the intrusion of the granodiorite stock.

The current Mineral Resources are contained within a semicircular zone of about 1 km diameter; within this mineralized envelope the ore zones are mixed, with some lower-grade or barren zones. Most of the drilling is shallow, with an average depth of 100 m, roughly corresponding to the depth of supergene oxidation. The upper 70 m to 120 m of the mineralization has been oxidized with pyrite altered to hematite, goethite, and jarosite. The hypogene sulphide mineralization is open at depth, and along all directions.

Mineralization at Cerro de Oro consists dominantly of pyrite that is widely disseminated throughout the porphyritic granodiorite, and in hornfels and skarns developed at the contact with the sedimentary rocks. Occasionally the presence of chalcopyrite has been noted, but its presence is typically minor and erratic. Lead and zinc are associated in varying amounts with the pyritic mineralization and may correlate with gold mineralization within the skarn zones. In areas where gold is hosted within the porphyritic granodiorite, only pyrite is associated with gold mineralization.

Gold resources are primarily hosted by the porphyritic granodiorite, which is characterized by various forms of stockwork-controlled mineralization associated with the development of early potassic alteration that was later overprinted by a sericitic event. The observed veins are typical of porphyry systems including magnetite vein; magnetite and quartz veins developed with potassic alteration; and later veins associated with sericitic alteration.

The porphyry is altered, with strong pervasive silicification and sericite. Fracturing is common, as is seen in the specimen. Minor quartz occurs as vein filling.

The mineralization at Cerro de Oro also occurs in the thinly bedded calcareous shale of the Caracol Formation and in its hornfels equivalent. It comprises iron sulphides like pyrite, now oxidized down to 70 m to 120 m from surface. The mineralization in the Caracol sediments and hornfels is partially disseminated, but is mostly distributed along bedding planes, fractures, and occasional veinlets and veins where it is often accompanied by quartz. The vein-controlled sulphide mineralization was in places so intense and thick (up to at least 10 cm), that iron sulphides were oxidized to gossan.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

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Personnel

Job Title	Name	Phone	Email	Profile	Ref. Date
.......................	.......................				Sep 28, 2022
.......................	.......................	...........	...........		Aug 12, 2024
.......................	.......................				Aug 12, 2024