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Argentina

Don Nicolas Mine

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Overview

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
Mine Life... Lock
SnapshotDon Nicolas’s operations commenced as an open pit CIL operation with mineralized material produced from deposits in the Paloma and Martinetas regions which are mostly depleted of ready to mine resources. In 2023, MDN added a heap leach operation to process the mineralized material from Calandrias Sur open pit.

On August 6th, 2024, Cerrado announced an updated Mineral Resource Estimate and the results of an NI 43-101 Preliminary Economic Assessment of the near-term heap leach at Calandrias Sur, Calandrias Norte and the development proposals for defined ore in the Martinetas area.

The PEA is focused on the development and mining of the high grade Calandrias Norte open pit to be processed through the existing CIL plant until late 2024 and the ongoing operations and expansion of the Calandrias Sur heap leach operations until at least 2028.

For the next few years, Minera Don Nicolas S.A. will be focused on growing resources to extend the mine life.

Owners

SourceSource
CompanyInterestOwnership
Cerrado Gold Inc. 100 % Indirect
Minera Don Nicolas S.A. (operator) 100 % Direct
Cerrado Gold Inc. through its 100%-owned subsidiary Minera Don Nicolas S.A. is focused on its producing Don Nicolas gold and silver mine in Argentina.

Contractors

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Deposit type

  • Epithermal
  • Vein / narrow vein

Summary:

The gold-silver deposits of the Deseado Massif are hosted in silicic volcanic and volcano-sedimentary Jurassic rocks related to arc or back-arc settings in Andean or extra-Andean settings. The ore geology, textures, mineralogy, restricted alteration, and geochemistry of these mineralised occurrences indicate that they belong to the epithermal class of precious metal deposits. The deposits are mainly associated with quartz +/- calcite +/- adularia +/- illite alteration assemblages interpreted to represent low and intermediate sulphidation epithermal type deposits.

At La Paloma, the Sulfuro-Rocio vein system comprises narrow, arcuate, steeply dipping quartz- breccia veins. Drilling has defined four areas of interest:

• The Sulfuro vein, the principal deposit of economic interest, is represented by a single, well developed quartz vein typically 2 m to 4 m in thickness and has a primarily northwest-south southeast orientation with a steep southwestwardly dip. Associated sulphide minerals include pyrite and minor galena and sphalerite.
• The Ramal Sulfuro vein occurs at the northern end of the main Sulfuro vein and is strongly curved from a north-south orientation to east-west and is typically 2 m to 4 m in thickness.
• The Rocio vein occurs to the west of the main Sulfuro vein. The Rocio vein is typically 2 m to 5 m in thickness and dips steeply to the east. It is also arcuate in shape and sub-parallels the Sulfuro vein.
• The Esperanza vein system dips 75 degrees toward Sulfuro and has an average thickness of 0.3 m to 6 m.

A near-surface oxidised resource has been estimated for the Arco Iris vein, located towards the north of the Sulfuro vein system. It is represented by a series of narrow, structurally displaced, sub- parallel aligned, sheared quartz veins hosting erratic precious metal mineralisation.

The La Paloma veins remain open-ended at depth. Geological interpretation of the results of recent geophysical studies strongly suggests that the main Sulfuro vein is additionally open-ended towards the south.

At Martinetas, multiple mineralised structures occurring as “vein swarms” with minor intervening stockwork development occur. Five resource areas have been delineated. The main resource is at the Coyote and Cerro Oro deposits comprising a series of narrow, sub-parallel, anastomosing quartz veins varying in width from tens of centimetres to several metres, and typically averaging 1 m or less in thickness. Au/Ag mineralisation is variable within the veins with some minor stockwork mineralisation extending into the host volcanic lithology. Conceptually, near-surface oxidised stockwork precious metal mineralisation might provide a low grade, conventional, heap- leachable resource.

Other resource areas at Martinetas include the Lucia, Calafate and Armadillo deposits. Precious metal mineralisation associated with these deposits is also hosted by narrow to moderately thick, steep dipping quartz veins of variable tenor.

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

Full year 2020 results only include operations of MDN for the period from acquisition, March 16, 2020 to December 31, 2020.
CommodityUnits2024202320222021202020192018
Gold Equivalent oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe26,57224,882
Silver oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe35,75750,596
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational metrics

Metrics202320222021202020192018
Daily mining rate  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Daily milling rate  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Stripping / waste ratio  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe22.2 22.2
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe242,232 t156,651 t
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe5,387,105 t3,470,372 t
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe277,029 t286,457 t
Daily ore mining rate  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Daily milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Plant annual capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Production Costs

CommodityUnits20242023202220212020
Cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe
Total cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
^ Guidance / Forecast.
** Net of By-Product.

Financials

Units202320222021202020192018
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
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After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe -2.9   -1.6  
Operating Cash Flow M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 28, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 28, 2024
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Aug 29, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 28, 2024
....................... Subscription required ....................... Subscription required Subscription required Aug 29, 2024

EmployeesContractorsTotal WorkforceYear
...... Subscription required 2023
...... Subscription required ...... Subscription required ...... Subscription required 2020

Aerial view:

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