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Mexico
La Colorada Mine

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 Location:
45 km SE from Hermosillo, Sonora, Mexico

  Address:
Carlos Quintero Arce No. 24 Sur-B, Puerta Grande Residencial
Hermosillo
Sonora, Mexico
83247
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StatusTemporary Suspension
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2027
La Colorada consists of two open pit operations. The two pits are El Creston, the higher grade of the two pits, and the Veta Madre pit. In the beginning of 2023, the decision was made to suspend stripping activities at El Creston pit, until an underground mining trade-off study is completed. The trade-off study, expected to be completed in mid-2023, is being conducted to determine the most profitable and lowest risk path forward to mine the high-grade material at the bottom of El Creston pit. At the Veta Madre pit, permitting delays have resulted in approximately 80,000 ounces being removed from the current mine plan.

Temporarily pausing mining activities at two remaining mines in Mexico (San Agustin and La Colorada) by Q4 2023.


Owners

Source: p. 26
CompanyInterestOwnership
Argonaut Gold Inc. 100 % Indirect
Compania Minera Pitalla S.A. de C.V. (operator) 100 % Direct
The La Colorada mine is owned and operated by Minera Pitalla, S.A. de C.V. (Minera Pitalla), which is a subsidiary of Argonaut Gold Inc. (Argonaut).

Contractors

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Deposit Type

  • Hydrothermal
  • Breccia pipe / Stockwork
  • Vein / narrow vein


Summary:

The La Colorada deposit is an atypical gold-silver deposit located in the centre of Sonora. It is not similar to the typical epithermal systems of the SMO with a marked northwest control and lesser northeast structures.

Fluid inclusion studies by Albinson (1997) indicated mineralizing temperatures for the deposit were mostly in the high 200°C to mid-300°C range and the system was a relatively hot epithermal environment. Albinson classified the veining at La Colorada as either deep epithermal or high level magmatic-mesothermal in origin. He went on to state that the system was likely related to shallow level plutons emplaced above a copper porphyry system. His studies also identified two styles of mineralization. The first was the main structurally-controlled primary hydrothermal quartz vein system with associated gold-silver and base metal mineralization. The second represented an overprinting supergene enrichment of gold. This younger gold event is hosted by cross cutting fractures with associated iron oxides. In the samples studied, he identified high-grade zones of coarse gold with oxides that filled cross cutting vugs and fractures. Albinson theorized that the gold was leached out of adjacent primary veins.

The La Colorada vein system is post-intrusive and post-skarn in age and may be termed either deep epithermal or high-level magmatic-mesothermal in origin and developed above a copper porphyry system.

The significant mineralized occurr ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Production at La Colorada has been ongoing since 2012 with the majority of ore being sourced from the Gran Central open pit. Mining ceased in Gran Central in 2018 and production is sourced from the El Creston and Veta Madre open pits.

Pit Design
The open pit designs were created by Argonaut regional staff in Hermosillo and transferred to La Colorada for implementation by both operations and mine contractors. Mine design is comprised of four mine phases. The first was mined and finished in 2019 and Phase 2 was finished in 2020. Phase 3 is actively being mined and Phase 4 is the final layback. Veta Madre consists of four phases for eventual extraction and Phase 1 is actively being mined. Phases 2 and 3 will extend the open pit to the west and Phase 4 will be the final layback.

For the El Crestón and Veta Madre pits, the ramp width was sized at 25 m (truck factor of 3.5) which can safely support Cat 777 (or equivalent) sized mining trucks. One-way access of 15 m was applied at the pit bottom after stripping requirements were met.

El Crestón Pit Parameters:
Inter-ramp Slope: 51°, 41°, 49°, 46º;
Bench Face Slope: 67°, 65°, 70°;
Berm Width: min.5 m max.7 m;
Bench Mining Height: 5 m;
Bench Height: 15 m;
Ramp Width: 2 Ways 25 m;
Ramp Width: 1 Way 15 m;
Ramp Gradient: 10%.

Veta Madre Pit Parameters:
Inter-ramp Slope: 46º, 48°, 51º, 53º;
Bench Face Slope: 67°;
Berm Width: 7 m;
........


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityUnits2022202120202019201820172016
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required45,88650,79656,492
Silver oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Equivalent oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.
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Operational Metrics:

Metrics202220212020201920182017
Total tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required28,071 kt23,342 kt23,356 kt
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required4,626 kt4,926 kt4,492 kt
Waste  ......  Subscription required  ......  Subscription required  ......  Subscription required23,445 kt18,416 kt18,864 kt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required4,478 kt4,764 kt4,490 kt
Stripping / waste ratio  ......  Subscription required  ......  Subscription required  ......  Subscription required5.07 3.74 4.2
Daily milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Reserves at December 31, 2022:
The Mineral Reserves: Cut-off grades for La Colorada were 0.14 g/t Au equivalent (“AuEQ”) at El Creston and 0.16 g/t AuEQ at Veta Madre.

CategoryTonnage CommodityGradeContained Metal
Probable 19.3 Mt Gold 0.83 g/t 512 koz
Probable 19.3 Mt Silver 9.6 g/t 5,967 koz
Indicated 21.7 Mt Gold 0.82 g/t 570 koz
Indicated 21.7 Mt Silver 9.6 g/t 6,671 koz
Inferred 0.6 Mt Gold 0.63 g/t 12 koz
Inferred 0.6 Mt Silver 7.2 g/t 138 koz

Commodity Production Costs:

CommodityUnits202220212020201920182017
Cash costs (sold) Gold USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 914 / oz†   691 / oz†  
All-in sustaining costs (sold) Gold USD  ......  Subscription required†
† Net of By-Product.
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Operating Costs:

Units2022
OP mining costs ($/t milled) USD 12.8
Crushing costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
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Financials:

Units2022202120202019201820172016
Sustaining costs M USD  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 5.7   18.8   16.2  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 62.4   65.3   72.7  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 28   10.9   16.5  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 7   12.9   17.9  
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Water Supply
Source: Subscription required

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Heavy Mobile Equipment as of October 1, 2021:
HME TypeModelSizeQuantityLeased or
Contractor
Dozer (crawler) ....................... Subscription required ....................... Subscription required Leased
Drill (blasthole) ....................... Subscription required ....................... Subscription required Leased
Excavator ....................... Subscription required ....................... Subscription required Leased
Grader ....................... Subscription required ....................... Subscription required Leased
Loader (FEL) ....................... Subscription required ....................... Subscription required Leased
Truck (dump) ....................... Subscription required 100 t ....................... Subscription required Leased
Truck (dump) ....................... Subscription required ....................... Subscription required Leased
Truck (dump) ....................... Subscription required ....................... Subscription required Leased
Truck (dump) ....................... Subscription required ....................... Subscription required Leased
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 18, 2023
....................... Subscription required ....................... Subscription required Subscription required May 18, 2023
....................... Subscription required ....................... Subscription required Subscription required May 18, 2023
....................... Subscription required ....................... Subscription required Subscription required May 18, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2021
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Annual Information Form 2022
Annual Report 2022
Corporate Presentation 2022
Financial Review 2022
Management Discussion & Analysis 2022
Press Release 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... 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
Annual Information Form 2018
Financial Review 2018
Management Discussion & Analysis 2018
Press Release 2018
Technical Report 2018
Annual Information Form 2017
Financial Review 2017
Management Discussion & Analysis 2017
Press Release 2017
Annual Information Form 2016
Financial Review 2016
Management Discussion & Analysis 2016
Annual Information Form 2015
Financial Review 2015
Management Discussion & Analysis 2015
Annual Information Form 2014
Financial Review 2014
Management Discussion & Analysis 2013
Preliminary Economic Assessment 2011
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