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Brazil
Palito Mine

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 Location:
92 km NW from Novo Progresso, Brazil

  Address:
Rodovia Transgarimpeira, km 22
Bairro Jardim do Ouro
Brazil
68181-000
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  • Overview
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  • Mining
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  • Production
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  • Costs & Financials
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  • Filings & News

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Overview

StageProduction
Mine TypeUnderground
Commodities
  • Gold
  • Copper
Mining Method
  • Sub-level open stoping (SLOS)
  • Shrinkage stoping
  • Longhole stoping
Production Start...
The Palito and São Chico operations comprise a single cash generating units (“CGU’’), being the Palito Complex.

The mine life will be based on the judgement of management of that portion of Measured, Indicated, and Inferred Resources that can be recovered on the basis that, given the nature of the Group’s orebodies, the mineral reserves (that portion of the mineral resource that has been proven by independent study to have economic viability) comprises a small part of the total mineral resource of the Group’s orebodies and does not reflect management’s view of the true life of the orebody.


Owners

Source: p. 101,140
CompanyInterestOwnership
Serabi Gold Plc. 100 % Indirect
Serabi Mineração S.A. (operator) 100 % Direct
Serabi is the operator and owns 100% of the Palito and Sao Chico Mines

Serabi Mineraçao SA - containing the Palito and São Chico gold mines.

Contractors

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Deposit Type

  • Intrusion related
  • Mesothermal
  • Vein / narrow vein


Summary:

The Palito and São Chico gold deposits are located within the northern portion of the Tapajós-Parima Orogenic Belt (TPOB), a constituent of the Ventauri-Tapajós province of the Guaporé Shield. Formed between 2.5 and 1.8 Ga, the TPOB is a northwest oriented magmatic arc bound to the north by the Amazonian Basin and to the south by the Cachimbo Graben. Within the TPOB, the Tapajós Gold Province hosts numerous primary gold deposits over an area of approximately 300 kilometers (km) by 350 km.

Mineralization at the Palito and São Chico deposits is hosted in granite and granodiorite of the Paráuari suite. Mineralization at the Palito Mine is hosted within three granitoids and is intimately associated with northwest-southeast vertical to sub-vertical mesothermal quartz-chalcopyrite-pyrite veins and pyrite disseminations filling the brittle-ductile fault sets. At Palito, the nature of sulfide mineralization varies along the strike and plunge extents of the deposit. Pyrite and chalcopyrite dominate in the granites, whereas pyrrhotite and pyrite with lesser chalcopyrite are found in the granodiorite. Within the granodiorites, the pyrrhotite-pyrite sulfides tend to be lower grade due to lower chalcopyrite content.

The Main Vein at São Chico strikes in a broadly west-northwest direction, dips steeply to the south, and ranges from approximately 1.0 to 3.9 meters (m) in apparent width. Mineralization extends approximately 140 m down dip and approximately 100 m along s ........


Mining Methods

  • Sub-level open stoping (SLOS)
  • Shrinkage stoping
  • Longhole stoping


Summary:

Palito Mine
Mining of the narrow, near-vertical gold veins at the Palito Mine is undertaken using the shrinkage stoping method.

Shrinkage stoping blocks are defined on the lower level by horizontal development mining along the vein, and a vertical raise is then driven to the top of the stoping block and ladders are installed so that men and materials can access the stope on each subsequent lift as mining advances upward.

Shrinkage stope mining progresses vertically beginning with the drilling of sub-vertical holes using hand-held pneumatic drills (stopers). The drill holes are loaded with explosives and the blasted ore is left in the stope except to the extent it is necessary to draw down the rock to leave an adequate distance between the working floor and the back. The ore left in the stope supports the walls and no installed ground support is typically required. Serabi extracts the broken ore via a series of crosscuts that are driven in waste from a footwall access. After a stope is mined to its full height, load-haul-dump (LHD) units are used to muck the remaining ore from the stope. The LHD units load haul trucks, which then transport the broken ore to the surface.

São Chico Mine
The São Chico Mine is high grade, narrow vein longhole stoping operation. Mining of the steeply dipping vein is by longitudinal longhole stoping methods using sublevels that are spaced at a nominal 15 m. Because structural backfill is not available and ........


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityProductUnits2022202120202019201820172016
Gold Metal in conc./ doré oz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required37,10837,00439,390
Copper Concentrate kt  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required176.24 kt162.72 kt168.88 kt158.86 kt
Tonnes milled  ......  Subscription required  ......  Subscription required177,335 t168,253 t172,565 t158,966 t
Daily processing capacity  ......  Subscription required  ......  Subscription required500 t
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Reserves at December 31, 2021:
Mineral Reserves are reported at a cut-off grade of 3.70 g/t gold for the Palito Mine and at a cut-off grade of 3.45 g/t gold for the Sao Chico Mine.

Mineral Resources are reported at a cut-off grade of 3.10 g/t gold for the Palito Mine and at a cut-off grade of 2.85 g/t gold for the Sao Chico Mine.

CategoryTonnage CommodityGradeContained Metal
Proven 55,628 t Gold 6.12 g/t 10,950 oz
Probable 243,614 t Gold 7.2 g/t 56,393 oz
Proven & Probable 299,243 t Gold 7 g/t 67,344 oz
Measured 48,822 t Gold 6.98 g/t 10,950 oz
Indicated 1,453,690 t Gold 5.17 g/t 241,544 oz
Measured & Indicated 1,502,512 t Gold 5.23 g/t 252,494 oz
Inferred 1,429,665 t Gold 4.83 g/t 221,929 oz

Commodity Production Costs:

CommodityUnits202120202019201820172016
Total cash costs Gold USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 821 / oz†   799 / oz†   700 / oz†  
All-in sustaining costs (AISC) Gold USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 1,093 / oz†   1,071 / oz†   965 / oz†  
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units202120202019201820172016
UG mining costs ($/t milled) USD 144130120125112110
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Financials:

Units202120202019201820172016
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 4.4   4.4   2.4  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 43.3   48.4   52.6  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -2.7   -0.7   6  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 2.9   5   11.3  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -4.8   -1.7   1.9  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required -5.8   -2.4   4.4  
Operating Cash Flow M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 1.6   8.2   16.2  
Book Value M USD  ......  Subscription required  ......  Subscription required 10.4   3.7   2.8  
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Water Supply

Water is an abundant resource in the area, and the current water supply system is not a limiting factor for operations at the Palito Mine or the São Chico Mine.

The operation has a water supply system consisting of dams that contain water from the following sources:
- Mine water that is pumped from the underground workings;
- Recycled process water after neutralization and decantation; and
- Rain water.

The total process water requirement is 40 m3/hr, of which 80% is recycled from the tailings disposal areas (32 m3/hr) and 20% is from the fresh water dam (8 m3/hr). Fresh drinkable water for use in the camp is supplied by conventional water wells. The total fresh water consumption is approximately 60 m3/day.


Heavy Mobile Equipment as of January 25, 2018:
HME TypeModelSizeQuantity
Drill (long hole) ....................... Subscription required ....................... Subscription required
Jumbo ....................... Subscription required ....................... Subscription required
Load-Haul-Dump (LHD) ....................... Subscription required 3 t ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 13, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 20, 2022
....................... Subscription required ....................... Subscription required Subscription required Jan 27, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required 2017
Subscription required 2016

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Technical Report 2018
Annual Report 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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