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Mexico
La Fortuna Project

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 Location:
65 km NE from Culiacan, Durango, Mexico

  Project Contacts:
Calle Pedro Moreno #24, Int. Segundo Piso Col. Centro CP 83000
Hermosillo
Sonora, Mexico
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life5 years (as of Jan 1, 2018)
The La Fortuna open pit gold project has a robust and positive preliminary economic assessment (PEA) completed and the main Federal permits in hand.


Owners

Source: p. 30, 33
CompanyInterestOwnership
Minera Alamos Inc. 100 % Indirect
Minera Alamos de Sonora, S.A. de C.V. 100 % Direct
On 4 May 2016, Minera Alamos acquired 100% of four mining concessions comprising the La
Fortuna Project from Argonaut Gold Inc. (Argonaut) and its wholly-owned Mexican subsidiary, Durango Fern Mines S.A. de C.V.

The Qualified Person has relied entirely upon Minera Alamos, its management and legal counsel for information related to documentation pertaining to the ownership of the concessions and the updated status of the La Fortuna I/II/III/V concessions subsequent to the June 2017 title opinion.

Contractors

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Deposit Type

  • Intrusion related
  • Breccia pipe / Stockwork
  • Porphyry
  • Epithermal


Summary:

Known mineralization within the La Fortuna Project area is spatially associated with calc-alkaline intrusions, with different zones exhibiting a combination of geological characteristics and gold-silver grades of both porphyry and epithermal mineralization styles. Collectively the zones at La Fortuna may be best characterized as intrusion- related ‘transitional’ deposits. They consist mainly of a hydrothermally altered breccia “pipe”, tabular in shape, similar in nature to other quartz-sulphide gold ± copper ± silver epithermal breccia deposits.

The Project area hosts numerous historic adits, and gold-silver showings including the historic La Fortuna Mine (and extensions) and the Ramada, PN, and Cerro Pelon zones to name a few.

Mineralization in the La Fortuna Mine area appears to be spatially associated with a series of parallel fault structures (approximately 1.5–2 km apart) and related to tourmalinized quartz monzonite breccia bodies which are located along the periphery or flanks of a north-northwest striking, west dipping, tabular quartz monzonite intrusive that appears to be approximately 60 m wide and forms a prominent topographic ridge prominent in the mine area. These fault structures and tourmaline breccia bodies have been the source of significant historical mining activity within the Project area.

La Fortuna Mine
The La Fortuna deposit is hosted within a tabular mineralized body that is up to 60 m thick and dips 30 ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mineralization at La Fortuna extends close to surface and is amenable to conventional open pit methods utilizing front-end loaders and trucks. Pit bench heights are assumed to be 5 m in order to provide good ore/waste selectivity, although the use of larger bench heights in zones consisting predominantly of waste should be considered as part of future optimization studies.

Overall average pit slopes with the benches/ramps in place are approximately 43° for three sides and 41° overall for the north wall. Rock competency is reasonable and higher pit slopes may be considered once the appropriate geotechnical information is available.

Mineralized and waste material will be hauled using 25-t trucks approximately 500 m (maximum) to the mineralized stockpile and waste dump locations near the mine. Crushed stockpile material is then transported to the plant processing facilities located at a distance of less than 1.5 km from the mine.


Crushing and Grinding
Flow Sheet: Source


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Concentrate kt 0.7
Gold Metal in concentrate koz 43213
Silver Metal in concentrate oz  ......  Subscription required  ......  Subscription required
Copper Metal in concentrate t  ......  Subscription required  ......  Subscription required
Copper Concentrate kt  ......  Subscription required
Gold Equivalent Metal in concentrate oz  ......  Subscription required

Operational Metrics:

Metrics
Tonnes milled 1,998,356 t *
Waste tonnes, LOM 12,863,948 t *
Ore tonnes mined, LOM 2,867,303 t *
Total tonnes mined, LOM 15,731,200 t *
Daily processing rate 1,100 t *
* According to 2018 study.

Reserves at December 20, 2018:

CategoryTonnage CommodityGradeContained Metal
Measured 1,755,375 t Gold 2.96 g/t 167,000 oz
Measured 1,755,375 t Silver 17.5 g/t 987,800 oz
Measured 1,755,375 t Copper 0.23 % 4,000 t
Indicated 1,714,336 t Gold 2.59 g/t 142,800 oz
Indicated 1,714,336 t Silver 15.5 g/t 854,400 oz
Indicated 1,714,336 t Copper 0.21 % 3,600 t
Measured & Indicated 3,469,711 t Gold 2.78 g/t 309,800 oz
Measured & Indicated 3,469,711 t Silver 16.51 g/t 1,842,200 oz
Measured & Indicated 3,469,711 t Copper 0.22 % 7,600 t
Inferred 156,322 t Gold 1.72 g/t 8,600 oz
Inferred 156,322 t Silver 8.51 g/t 42,700 oz
Inferred 156,322 t Copper 0.09 % 100 t

Commodity Production Costs:

CommodityUnitsAverage
Cash costs (sold) Gold USD 413.14 / oz *†  
All-in sustaining costs (sold) Gold USD 440.29 / oz *†  
All-in costs Gold USD 576.8 / oz *†  
Assumed price Copper USD 2.6 / lb *  
Assumed price Silver USD 16 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2018 study / presentation.
† Net of By-Product.

Operating Costs:

Units2018
OP mining costs ($/t mined) USD 2.15 *
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2018 study.
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2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 45.7
G&A costs $M USD 11.1
Total OpEx $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 15% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 15% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of July 13, 2018:
HME TypeSizeQuantity
Drill 100 mm ....................... Subscription required
....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 13, 2018
....................... Subscription required ....................... Subscription required Subscription required Jul 13, 2018
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Oct 31, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 31, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
................................... Subscription required 2019
Preliminary Economic Assessment 2018
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