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Chile
Tres Valles Complex

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 Location:
12 km N from Salamanca, Chile

  Address:
Parcela 25ª Lote B Chuchiñí
Salmanca
Chile
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Overview

StageProduction
Mine TypeOpen Pit & Underground
Commodities
  • Copper
Mining Method
  • Front caving (FC)
  • Inclined block caving (IBC)
  • Truck & Shovel / Loader
  • Sub-level caving
Processing
  • Sulfuric acid (reagent)
  • Chloride leach
  • Filter press plant
  • Heap leach
  • Solvent Extraction & Electrowinning
Mine Life2025
Minera Tres Valles (MTV) complex consists of two main deposits Papomono (underground) and Don Gabriel (open pit).

During 2021, ore was extracted primarily from the Don Gabriel open pit mine ("Don Gabriel") while the Papomono underground mine ("Papomono") was under development.
Latest NewsThree Valley Copper Announces MTV Files for Creditor Protection in Chile     June 13, 2022


Owners

Source: p. 2,30
CompanyInterestOwnership
Vecchiola S.A 4.9 % Indirect
Three Valley Copper Corp. 95.1 % Indirect
Minera Tres Valles SpA ("MTV") V is 95.1% owned by Three Valley Copper Corp. (formerly SRHI Inc.).

Porto San Giorgio SpA is the minority shareholder of MTV and Vecchiola S.A. is a subsidiary of Porto San Giorgio SpA.

Deposit Type

  • Stratabound (SMS)
  • Vein / narrow vein
  • Manto


Summary:

Minera Tres Valles mining complex (MTV) is a Cu-Ag stratabound, manto-type deposit.

The MTV Project consists of two main deposit areas about 5km apart. The Don Gabriel area hosts the Don Gabriel Manto and Don Gabriel Vein deposits. The Papomono (“PPM”) area consists of seven known deposits: Massivo, Cumbre, Mantos Connection, PPM South, Mantos North, PPM North, and Epithermal.

Papomono
The dominant sulphides in the deposit are in decreasing order: chalcocite-covelite (~85%), bornite (~6%), enargite (~5%) and chalcopyrite (~4%). It is important to mention that the bulk of the chalcocite at MTV is hypogene. Very few parts were observed with supergene chalcocite. In places where intense fracturing and faulting occurs, the action of oxidizing agents generates oxide copper minerals: chrysocolla, malachite, brochantite and atacamite. For this reason, the traditional vertical zonation of oxides on top and sulphides in deeper parts are not identified in Papomono and the main oxide zones are related to more fractured zones, sometimes deeper than preserved sulphides.

The most common deposit geometry is the manto-type (stratiform). The individual “mantos” have a thickness that ranges from 2 to 50m, up to 500m strike extension and length along dip reaching 600m. Examples of this type of deposit geometry are the PPM South, Mantos Connection, and the Mantos North deposit. The other common geometry is vein-type, with a thickness between 2 and 15m, strike length from 100 to 420m and 100 to 250m deep. Dip angle is generally steep, between 80° and 90° to the west. There are also sets of tens of cm-thick N-S veins dipping 55° to the east. These sets of veins occur in clusters of 10 to 30 narrow, around 50m long, massive chalcocite veins.

One specific and important geometry is observed in only one deposit, PPM Massivo. It is a complex geometry which resulted from the intersection of at least three different mineralization controls in the same area: the Papomono Fault system, the favorable strata (mantos) and the N-S set of small veins dipping east. The resulting geometry is roughly an inverse triangle or a truncated rhomb shape, which has 440m strike, up to 190m wide and 190m high.

Finally, there is a cylinder-shape geometry related to the intrusive plug of Cumbre. This deposit is vertical, with at least 400m deep (310m from the bottom of exploited Cumbre pit) and an average diameter of 180m. A near surface oxide mineralized zone was hosted in the upper part of intrusive as well in the contact zones with volcanic to volcanoclastic rocks of the Quebrada Marquesa Formation and was already exploited by open pit. Deeper zones in Cumbre present disseminated chalcocite and bornite mineralization.

Don Gabriel
The mineral deposit of Don Gabriel is formed of two main zones:
- An upper deposit of “manto” type, medium copper grade, with a set of stratabound disseminated, fine chalcocite, mineralization approximately 100m thick, dipping 30° SSW.
- A lower deposit, vein-shaped (straight-tabular), sub-vertically oriented N45°W, with intense strong to spotty mineralization or veinlets type (stockwork or sheeted veinlets), high copper grade, with chalcocite, digenite and some bornite.

Whereas the first type is hosted mainly in andesite amygdaloidal levels, the second type has medium to coarse porphyritic andesite and/or dioritic to microdioritic dikes as host rock, which underlies the level of coarse sandstone. The layers of sandstone serve as a guide-level separating the two main units. It is used as a sharp limit between the two geological models, Don Gabriel Mantos and Don Gabriel Veins.

The vertical-tabular mineralization seems to be intimately linked to the presence of dioritic dikes, which, in turn, are related to an intrusive stock to the W and SW, and outcrops at the bottom of the ravine near the mineral deposit. Such stock was also intercepted by several drill holes a little further to the east. Those dikes found in such drill holes may also be observed in the mine’s roads cut, as a 2 to 10m-thick dike swarm, which follows the same N45-50°W direction of the mineralization.

Considering the clear relationship between the vein shape mineralization and such dikes, it is possible to speculate the presence of a metasomatic component in its genesis, despite no distinctive skarn mineral being observed, only epidote and chlorite. Another possibility is that the dioritic magma emplaced areas of structural weakness, also employed by the mineralizing fluids immediately after the igneous siting (tardi- magmatic event). In some areas, mineralization zones are also observed, with similar characteristics to the “mantos”, chalcocite disseminated mineralization with pervasive albite, which makes it possible to glimpse the potential presence of stratabound deposits, but not stratiforms, as a set of parallel veins restricted to favorable stratigraphic levels (e.g. mineral deposits El Soldado or El Espino). Another aspect worth mentioning is the common presence of veins or disseminated hematite surrounding the best mineral grade sectors.


Mining Methods

  • Front caving (FC)
  • Inclined block caving (IBC)
  • Truck & Shovel / Loader
  • Sub-level caving


Summary:

Overview
The open pit mine plan for the Don Gabriel Manto was developed by IMC staff in March 2018, and the underground mine plan for the Papomono Masivo inclined block cave and front cave were developed by Wood staff in July 2018. The integrated plan for the open pit and underground operations (integrated case), supporting the mine plan, was prepared by Wood staff in August 2018.

Slope Angles
The slope angle design for the Don Gabriel pit is based on two reports by E-Mining. The first is “Informe Extendido – Estimación de Parámetros de Diseño y Análisis de Estabilidad Rajo Don Gabriel” dated May 2011, and the second is an addendum dated April 2012. The two reports specified the same geotechnical design. The interramp slope angle was specified by E-Mining as 52º. The height of continuous slope could not exceed 150 m without the inclusion of an additional 20 m catch berm. This would limit the overall angle to about 50º. The E-Mining analyses looked at possible largescale slope failures (low probability) and bench scale failures. The bench scale issues, maintenance of catch berms and retention of most failures on the catch berms, were the main considerations for the interramp slope angle recommendations.

Mining Phases
The Don Gabriel phase designs are based on analysis performed by Tetra Tech and summarized in the PowerPoint presentation “Optimización y Diseño – Rajo Don Gabriel Minera Tres Valles”, dated December 22, 2017. IMC also ran independent analyses to verify the final pit design.

The Tetra Tech analysis proposed dividing Don Gabriel into five mining phases. It is noted that the designs are conceptual in nature; in particular access roads were not included. IMC updated the designs to make the phases operational. It is assumed that most of the Don Gabriel ore and waste will exit the pit on contour since the pit is cut into a hill, so internal roads are expected to be fewer than in more typical open pits.

The final mining phases are a combination of MTV, Tetra Tech, and IMC designs. There will be six pit phases, numbered 2 through 7.
• Phases 2 and 3 are MTV designs for short-term planning in the north part of the Don Gabriel deposit. These phases replace the Tetra Tech phase 1 pit. The MTV phase 1 pit has been completed • Phases 4, 5, 6, and 7 are the IMC/Tetra Tech phases 2, 3, 4, and 5.

The mining phases amount to 5.17 Mt at 0.81% TCu and 0.71% recoverable copper (RecCu) for 92.7 million contained copper pounds and 81.1 million recoverable copper pounds. The metallurgical recovery averages about 87.4%. Total material in the pit is 27.2 Mt for a waste:ore ratio of 4.3 to 1. The indicated recovery and payable copper are slightly higher than the Mineral Reserve in Table 15-1. The Mineral Reserve is based on acid leaching for 2018, thus the difference. The biggest operational challenge will be the IMC’s pit phase 6. At about the 1560 bench, the phase 6 wall will catch up to the phase 5 wall. All the material between the 1560 bench and the 1470 flat will have to exit the pit to the north. This means waste will exit to the north and go around the pit to get to the south waste storage area. The second issue is the bottom several benches of the phase are in the narrow wedge between phase 3 and phase 4.

Waste Rock Storage Facilities
A waste rock storage facility (WRSF) was designed for the Don Gabriel open pit. Based on the mine production schedule, the total waste rock volume is anticipated to be about 22 Mt.

Papomono Masivo
Caving and stoping mining methods were analyzed, assessing low mining cost and high dilution ratio scenarios versus higher mining cost and lower dilution ratio scenarios. Studies completed by INGEROC in 2013 had recommended the combined use of sub-level caving and inclined block caving methods for the recovery of Papomono Masivo sector.

Caveability and Fragmentation of Inclined Block Cave
The fundamental viability for the use of the inclined block caving mining method is that the rock mass will fail and cave for a given area opened (critical hydraulic radius at caving) with subsequent growth of the cave upwards (advance vertically with the draw of material) such that the cave is self-sustaining until it reaches the surface or breaks all of the in-situ orebody column.

There are two conditions in caving mechanics (Brown, 2004): in a stress cave, the cave advance is vertically upward and in a subsidence cave, the cave advance is sideways. At the start of a new sector the caving advance is general vertically upwards.

A caveability assessment was undertaken using Laubscher’s empirical stability chart version 2001 (Brown, 2004), based on worldwide experience on caving and stable situations in terms of the hydraulic radius (area divided by perimeter) for a range of MRMR values.

To estimate the required minimum hydraulic radius (HR = area/perimeter) of the footprint required to initiate caving (self-sustaining to surface), a RMRL value of 27 will be used for the start of caving. Assuming that the initial caving front will be polygonal, an A-type curve will be used.

Mining Layout of Inclined Block Cave
A work plan was derived, based on the following concepts:
• Investment limit: Project initial infrastructure (civil and mining) whose costs should not exceed US$10 million as the initial capital cost, excluding mobile equipment
• Attain a production capacity of 2,000 t/d.

Design of the first phase must allow for flexibility of construction of the second phase. The base of the Papomono Masivo inclined block caving layout was a 10 x 10 x 10 m operational grid with 130 draw points and five levels. The two-phase plan consists of:
• Prepare a sufficient and minimum base area to ensure caving with HR = 9 m, i.e. an area of 3,000 m2 plus a supplemental area to ensure continuity of development. The initial caved area corresponds to a zone 60 m long by 50 m wide, which results in a HR of 13, exceeding the minimum HR of 9 m which will assure the starting and propagation of caving. Besides this initial area, the adjacent drifts will also be developed so as to ensure uninterrupted operations while the second phase is being developed
• The initial area is bigger than what is strictly needed for caving in order to achieve the initiation and propagation of the caving with a limited extraction, and to allow for the gradual fracturing and collapse of the cave back without producing cavities in the cave vault, to prevent potential air blasts
• Develop the second phase after verifying the initial caving, until the total area to be mined using 130 draw points is reached.

Ventilation
The ventilation strategy for the inclined block cave maintains existing fresh air intakes from the North and South portals.

Vitiated air will be exhausted through a new adit that will be located at the “Narbona” tunnel. The main existing ventilation raise will be used as an exhaust system to serve the mine main access and the haul truck circuit.

The total air requirement for the project is estimated at 103 m3 /s. The air will be taken from the main access to be distributed to the different levels in the southern area by the local air intake system consisting of galleries, raises, secondary and ancillary fans.

Material Handling
The material handling system assumes extraction using mining by means of 3.5 yd3 load-haul-dump (LHD) equipment, conveying ore from the mining points to ore passes that will be located in the main haulage tunnel. These ore passes will include a grizzly, regulating ore size to 80 cm maximum and the eventual use of an existing mobile hammer for secondary reduction.


Crushing and Grinding
Flow Sheet: Source
Crusher / Mill TypeModelSizePowerQuantity
Jaw crusher 160 kW 1
Cone crusher ....................... Subscription required 200 kW 2
Cone crusher ....................... Subscription required 500 kW 1

Summary:

Ore (and toll treated material) is stockpiled above the crusher, and is loaded into a primary jaw crusher, secondary cone crusher, and tertiary and quaternary crushers; these crushers reduce the rock to fragments to a target size distribution 80% <6.4 mm (¼”).

Minera Tres Valles’ process starts by receiving ore from both of the company’s own mines as well as third parties at the main Ore Stockyard. The different batches are loaded into a primary jaw crusher that reduces the rock to fragments smaller than < 90 mm. From this stage, the ore is sent to a standard cone type secondary crusher, which produces fragments no bigger than < 25 mm (1”).

This material is sent to the tertiary crusher, where the grain size is < 14 mm. Finally, the ore is sent to the quaternary crusher, which reduces the size of the stacking ore to < 6 mm (or ¼”).

In the fourth quarter of 2019, the configuration of the crusher was modified to a three-stage configuration where either the tertiary or quaternary crusher is utilized in the circuit depending on the type of ore being put through the SX-EW plant in order to optimize grind size. This application is expected to continue going forward producing efficiencies to the operation.


Processing

  • Sulfuric acid (reagent)
  • Chloride leach
  • Filter press plant
  • Heap leach
  • Solvent Extraction & Electrowinning

Flow Sheet: Subscription required

Summary:

Minera Tres Valles mining complex (MTV) produces high-grade copper cathodes using a heap-leach and SX/EW process.

The crushed material is agglomerated, and water and acid are added to commence the leaching process. The agglomerated material is trucked to the heap leach area and stacked by front-end loaders. A grid of hoses with drippers is placed over the heaped material and the first phase of intensive leaching to recover the oxide mineralization during the first three-month period commences using constant and high acidconcentration irrigation. The product of this first leaching stage is the “oxide-pregnant leach solution” (oxide-PLS), which has a high copper content and is accumulated in a pond at the bottom of the leach pads. For the subsequent six months, the material is irrigated on an intermittent basis, with lower acid concentration to extract the copper from sulphides (chalcocite, covellite and some bornite). The resulting PLS (sulphidePLS) is stored in anoth ........

Recoveries & Grades:

CommodityParameter2021202020192018201720162015
Copper Head Grade, %  ......  Subscription required  ......  Subscription required  ......  Subscription required0.691.281.31.84
Copper Recovery Rate, %  ......  Subscription required  ......  Subscription required  ......  Subscription required8078.6

Production:
Supplemental ore was also contributed by third parties and ENAMI.
MTV has a tolling contract with ENAMI (a Chilean state-owned company).

CommodityUnits2022202120202019201820172016
Copper t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required5,3816,2785,412
All production numbers are expressed as cathode. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required1,210,321 t736,532 t
Waste  ......  Subscription required  ......  Subscription required6,195,814 t1,695,516 t
Stripping / waste ratio  ......  Subscription required  ......  Subscription required
Annual production capacity  ......  Subscription required  ......  Subscription required
Tonnes processed  ......  Subscription required  ......  Subscription required1,433,148 t968,490 t663,851 t436,677 t
Daily processing capacity  ......  Subscription required  ......  Subscription required6,000 t
Annual production capacity  ......  Subscription required  ......  Subscription required18,500 t of copper cathode18,500 t of copper cathode18,500 t of copper cathode
Daily milling capacity  ......  Subscription required  ......  Subscription required7,000 t7,000 t5,400 t
Subscription required - Subscription is required.

Reserves at January 1, 2018:
The Mineral Resources and Mineral Reserve as at 27th May 2021 at Tres Valles mine are unchanged from july 31, 2018
Mineral Reserves are based on an open pit mine plan developed by IMC and underground mine plan and mine production schedule developed by Wood with a cutoff grade of 0.25% TCu for open pit, and 0.40% TCu and 0.47% TCu cut-off grades for the inclined block caving and front caving methods respectively.

CategoryTonnage CommodityGradeContained Metal
Proven 3,457 kt Copper 1.32 % 45.8 kt
Probable 4,778 kt Copper 0.89 % 42.4 kt
Proven & Probable 8,235 kt Copper 1.07 % 88.3 kt
Measured 5,530 kt Copper 1.42 % 172,674 k lbs
Indicated 12,774 kt Copper 0.87 % 244,581 k lbs
Measured & Indicated 18,304 kt Copper 1.03 % 417,255 k lbs
Inferred 3,457 kt Copper 1.11 % 84,408 k lbs

Commodity Production Costs:

CommodityUnits2021202020192018
Cash costs Copper USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 2.37 / lb
^ Guidance / Forecast.
Subscription required - Subscription is required.

Financials:

Units20222021202020192018
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required6.6  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required32.7  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required-1.6  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required-6.6  
Subscription required - Subscription is required


Heavy Mobile Equipment:
HME TypeModelSizeQuantityStatusLeased or
Contractor
Ref. Date
Backhoe 1 cu. m ....................... Subscription required Proposed Leased May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Drill ....................... Subscription required ....................... Subscription required Existing May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Drill ....................... Subscription required ....................... Subscription required Existing May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Jumbo ....................... Subscription required ....................... Subscription required Existing May 27, 2021
Jumbo ....................... Subscription required ....................... Subscription required Existing Mar 29, 2018
....................... Subscription required ....................... Subscription required Proposed May 27, 2021
Scaler ....................... Subscription required ....................... Subscription required Existing May 27, 2021
Scoop Tram ....................... Subscription required ....................... Subscription required Existing May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Trans Mixer ....................... Subscription required ....................... Subscription required Existing May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Truck (underground) ....................... Subscription required ....................... Subscription required Existing May 27, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Proposed Leased May 27, 2021
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 30, 2022
....................... Subscription required ....................... Subscription required Subscription required May 30, 2022
....................... Subscription required ....................... Subscription required Subscription required May 30, 2022
....................... Subscription required ....................... Subscription required Subscription required May 30, 2022
....................... Subscription required ....................... Subscription required Subscription required May 30, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2020
Subscription required Subscription required Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Management Discussion & Analysis 2018
Technical Report 2018
Technical Report 2018
Management Discussion & Analysis 2017
Quarterly Report 2017
Other 2016
Form 20-F 2013
Other 2013
Form 20-F 2010
Subscription required - Subscription is required.

News:

NewsDate
Three Valley Copper Announces MTV Files for Creditor Protection in Chile June 13, 2022
Three Valley Copper Reports 2021 Annual Results and Provides Corporate Update April 29, 2022
Three Valley Copper Commences Papomono Block Caving Operations March 7, 2022
Three Valley Copper Suspends Mining Operations and Provides Strategic Review Update January 24, 2022
Three Valley Copper Increases its Ownership in MTV to 95.1% December 6, 2021
Three Valley Copper Corp. Announces Closing of Bought Deal Offering and Exercise of Over-Allotment Option November 25, 2021
Three Valley Copper Corp. Announces C$10 Million Bought Deal Financing October 28, 2021
Three Valley Copper Corp. Announces Upsize to the Previously Announced Bought Deal Financing to C$16 Million October 28, 2021
Three Valley Copper Identifies Copper Porphyry Target, Provides Preliminary 2022 & 2023 Operating Guidance September 28, 2021
SRHI Inc. (Three Valley Copper) Confirms Commitment to MTV, Provides Update on Arbitration, and Insight into Proposed Chilean Mining Royalty Legislation June 18, 2021
SRHI Inc. Announces Increase in Ownership of MTV to 90.3%, Name Change to Three Valley Copper and Management Additions June 4, 2021
SRHI Inc Files Amended NI 43-101 Technical Report on its Minera Tres Valles Copper Project May 27, 2021
SRHI Inc. Begins Construction and Development of Underground Mine and Reports 2020 Third Quarter Results November 16, 2020

Aerial view:

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