Mining Intelligence and News
Nicaragua

Porvenir Project

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Categories

Overview

Mine TypeUnderground
StagePre-Feasibility
Commodities
  • Gold
  • Silver
  • Zinc
Mining Method
  • Bench & Fill
  • Avoca
  • Sub-level stoping
  • Transverse stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotOn March 16, 2023, the Company announced the results of the Hemco Technical Report, which included the results of the pre-feasibility study on the Porvenir Project.

The Porvenir Project is planned to be independent of other mines on the Hemco Property, having its own mine access, process plant, tailings facilities, and other required infrastructure.

For the Project, environmental management will be carried out in accordance with existing Hemco corporate EMPs. If any new requirements are identified as the project evolves, additional EMPs would be developed as appropriate. Activities to date have been carried out under an exploration permit. Applications for construction, mining, milling, and other project related permits will be made after the project moves through the environmental assessment process and as feasibility and engineering designs allow. Note that a prior application for environmental assessment was withdrawn due to revisions to the Porvenir Project plan.
Related AssetHemco

Owners

SourceSource
CompanyInterestOwnership
Mineros S.A. 99.9975 % Indirect
Hemco Mineros Nicaragua S.A. (operator) 100 % Direct
Mineros S.A. directly holds a 99.9975% interest in the Hemco Property through its interest in its subsidiary, Hemco Nicaragua S.A. Mineros holds a 99.995% interest in Hemco Nicaragua directly, and a further 0.0025% interest indirectly through Mineros Aluvial S.A.S. BIC (Mineros Aluvial), a wholly owned subsidiary of Mineros. The remaining 0.0025% interest in Hemco Nicaragua is held by Mercantil Colpatria S.A. (Colpatria), a major shareholder of Mineros. Hemco Nicaragua holds a 100% interest in the majority of the concessions that constitute the Hemco Property.

Contractors

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Deposit type

  • Epithermal
  • Volcanic hosted
  • Vein / narrow vein

Summary:

At the Hemco Property, the majority of mineralization consists of volcanic hosted gold-silver + copper, lead, and zinc epithermal quartz veins of intermediate sulphidation type. Three groups of mineralized, northeast trending veins, called the Panama Group, Pioneer Group, and Constancia Group, respectively, occur within andesitic and agglomerate units. Each group hosts up to 70 principal veins or vein segments, which collectively define a 20 km long mineralized corridor and host the Panama gold and Pioneer gold and silver deposits. The Porvenir polymetallic deposit is hosted within adjacent volcanic rocks.

The Porvenir, Leticia, and San Antonio deposits are within the Constancia Group.

The majority of mineralization within the concession area consists of volcanic hosted gold-silver ± copper, lead, and zinc epithermal quartz veins of intermediate sulphidation type.

There is a vertical zonation of metals, and base metal contents are higher at depth, although, in general, gold grades appear to stay constant except in those areas near surface where residual gold has been liberated by the oxidation of pyrite and weathering/disintegration of host rock.

The epithermal veins at Bonanza are characterized by moderate to intense propylitic alteration of the andesite wall rocks locally accompanied by argillic alteration and silicification. There are several variations in style of mineralization among the veins.

In the Bonanza district, all of the veins are interpreted to lie in the middle to deeper levels of an epithermal system. On the basis of base metal content, the Porvenir, Leticia and San Antonio veins in the Constancia Group are interpreted to be deeper relative to the Pioneer and Panama groups.

The Porvenir gold vein system comprises five main veins, part of the Constancia Group. The five main veins at Porvenir are Porvenir Norte, Oro Fino, Real McKoy, Elena, and Porvenir Sur.

The Porvenir deposit consists of polymetallic mineralized veins that are spread over a strike length of approximately 2,200 m and have a maximum depth of 400 m below surface. These veins have a northeast 55°- 65° southwest striking orientation and dip to the northwest from 50°-80° with a thickness ranging from 0.8 to 16.0 m.

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

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 497,263
Gold Metal in conc./ doré koz 57510
Silver Payable metal koz 1,001,123
Silver Metal in conc./ doré koz 1121,011
Zinc Metal in zinc concentrate M lbs 38346
Zinc Payable metal M lbs 290
Gold Equivalent Payable metal koz 755,441
Gold Equivalent Metal in conc./ doré koz 816,370

Operational metrics

Metrics
Daily ore mining rate  ....  Subscribe
Daily processing capacity  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2022 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold Equivalent USD  ....  Subscribe
Assumed price Zinc USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2022 study / presentation.

Operating Costs

Currency2022
UG mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2022 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Expansion CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 213.9
G&A costs $M USD 11.3
Total OpEx $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Operating margin (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Net Income (LOM) $M USD  ......  Subscribe
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After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 15% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 15% $M USD  ......  Subscribe
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Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 24, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 13, 2024
....................... Subscription required ....................... Subscription required Subscription required Jul 13, 2024

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2022

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