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Ecuador
Loma Larga Project

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 Location:
27 km SW from Cuenca, Ecuador

  Project Contacts:
Comunidad Cristal Aguarongos Parroquia Chumblín
Azuay Cuenca
Ecuador
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
  • Silver
  • Copper
  • Pyrite
Mining Method
  • Drift & Fill
  • Longhole stoping
  • Transverse open stoping
  • Paste backfill
Mine Life12 years (as of Jan 1, 2020)
The timing for recommencing drilling activities and further advancing the environmental permitting process at the Loma Larga gold project remain subject to an appeal process currently before the Provincial Court of Azuay. DPM has therefore taken the decision to extend the timeline for the optimization phase of the updated feasibility study (“FS”) for Loma Larga, which is now expected to be completed in the second half of 2023.


Owners

Source: p. 5
CompanyInterestOwnership
Dundee Precious Metals Inc. 100 % Indirect
Loma Larga project is held by DPM Ecuador S.A. (previous INV Minerales Ecuador S.A.), wholly owned subsidiary of Dundee Precious Metals Inc.

Contractors

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Deposit Type

  • Epithermal


Summary:

The Loma Larga property is located between the Gañarin fault to the northwest and the Girón fault to the southeast. A collapsed caldera structure, four kilometres in diameter, the remnant of an eroded stratovolcano, lies along (and probably emplaced and controlled by) the Gañarin fault and 400 m west of the main Loma Larga mineralization. The caldera is underlain by late felsic domes and is cut by a multi-phase diatreme. The north-south trending Rio Falso fault, which appears to be a conjugate fault linking the Gañarin and Girón faults, is the locus for alteration and mineralizing fluids.

The property and immediate surrounding area is mostly underlain by Upper Miocene volcanic and volcaniclastic rocks, of the Turi, Turupamba, Quimsacocha, and Tarqui formations. These formations are flat lying to gently dipping and usually do not outcrop on the property. The outcrops that are exposed form a radial pattern around the caldera and gently dip away from it to the south and east.

The property is largely underlain by the Quimsacocha Formation which hosts the Loma Larga deposit and consists of alternating andesitic banded lava flows with phenocrysts of fresh plagioclase and andesite tuffs and breccias, distributed radially only around the outside of the caldera. The Quimsacocha Formation overlies the Turi Formation which consists of tuffaceous breccias, conglomerates, and sandstones with a high content of andesitic clasts and occasional clasts of tuffaceous bre ........


Mining Methods

  • Drift & Fill
  • Longhole stoping
  • Transverse open stoping
  • Paste backfill


Summary:

The mine has been designed to produce 3,000 to 3,500 t/d from an underground operation using conventional highly mechanized mining equipment routinely used in similar operations around the world.

The orebody configuration will allow for a straightforward and simple mine layout. The mine will have a relatively small amount of lateral development due to the elongated and flat configuration of the ore. There are only three main mining levels and almost no ramp development other than the initial access ramp and the accesses to the three levels.

The principal mining method will be transverse longhole stoping followed by paste backfilling.

Drift-and-fill will also be used where the ore is narrower than a full stope or where the stopes are relatively short in height. The method is very similar to the cut-and-fill mining method.

The selected mining methods are relatively simple, permit standard operating routines and are highly flexible. This, combined with good ground conditions, in a high percentage of the orebody (as per RockEng) should lead to a safe and highly productive operation.

TRANSVERSE LONGHOLE MINING
The majority of the mine will be developed for transverse longhole stoping, with stopes aligned perpendicularly to the strike of the orebody. The stopes will be mined in a primary-secondary sequence, with primary stopes measuring 20 m wide x 25 m high x 20 m deep and secondary stopes measuring 20 m wide x 25 m high ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in copper conc. koz 287
Gold Metal in pyrite concentrate koz 1,323
Silver Metal in pyrite concentrate koz  ......  Subscription required
Silver Metal in copper conc. koz  ......  Subscription required
Copper Metal in copper conc. M lbs  ......  Subscription required
Copper Concentrate kt  ......  Subscription required  ......  Subscription required
Pyrite Concentrate kt  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Daily processing rate  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Mining scale, tpd  ......  Subscription required
Processing scale, tpd  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at March 31, 2020:
Mineral Reserves are reported at an NSR cut-off value of US$60/t. Mineral Reserves include long hole and drift-and-fill stopes as well as development in ore.

Mineral Resources are reported at an NSR cut-off value of US$55/t.

CategoryTonnage CommodityGradeContained Metal
Proven 2.9 Mt Gold 7.3 g/t 0.69 M oz
Proven 2.9 Mt Silver 34.8 g/t 3.27 M oz
Proven 2.9 Mt Copper 0.44 % 28.5 M lbs
Proven 2.9 Mt Gold Equivalent 8.4 g/t 0.79 M oz
Probable 11 Mt Gold 4.28 g/t 1.51 M oz
Probable 11 Mt Silver 28.3 g/t 10 M oz
Probable 11 Mt Copper 0.25 % 59.5 M lbs
Probable 11 Mt Gold Equivalent 5 g/t 1.77 M oz
Proven & Probable 13.9 Mt Gold 4.91 g/t 2.2 M oz
Proven & Probable 13.9 Mt Silver 29.6 g/t 13.27 M oz
Proven & Probable 13.9 Mt Copper 0.29 % 88 M lbs
Proven & Probable 13.9 Mt Gold Equivalent 5.72 g/t 2.56 M oz
Measured 2.9 Mt Gold 7.31 g/t 0.67 M oz
Measured 2.9 Mt Silver 34.9 g/t 3.2 M oz
Measured 2.9 Mt Copper 0.44 % 28.2 M lbs
Measured 2.9 Mt Gold Equivalent 8.33 g/t 0.77 M oz
Indicated 21.2 Mt Gold 3.28 g/t 2.24 M oz
Indicated 21.2 Mt Silver 23.5 g/t 16 M oz
Indicated 21.2 Mt Copper 0.19 % 88.4 M lbs
Indicated 21.2 Mt Gold Equivalent 3.82 g/t 2.61 M oz
Measured & Indicated 24.1 Mt Gold 3.76 g/t 2.92 M oz
Measured & Indicated 24.1 Mt Silver 24.8 g/t 19.2 M oz
Measured & Indicated 24.1 Mt Copper 0.22 % 116.6 M lbs
Measured & Indicated 24.1 Mt Gold Equivalent 4.36 g/t 3.38 M oz
Inferred 6.2 Mt Gold 2.03 g/t 0.4 M oz
Inferred 6.2 Mt Silver 25.6 g/t 5.1 M oz
Inferred 6.2 Mt Copper 0.12 % 16.9 M lbs
Inferred 6.2 Mt Gold Equivalent 2.5 g/t 0.5 M oz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
All-in costs Gold USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
† Net of By-Product.

Operating Costs:

Units2020
UG mining costs ($/t milled) USD 22 *
Crushing costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 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
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 243.3
Backfill costs $M USD  ......  Subscription required
Transportation (haulage) costs $M USD 193.5
G&A costs $M USD 105
Total OpEx $M USD  ......  Subscription required
Mining Taxes $M USD  ......  Subscription required
Income Taxes $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 @ 7.5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7.5% $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
Subscription required - Subscription is required.

Water Supply
Source: Subscription required

- subscription is required.


Proposed Heavy Mobile Equipment as of April 8, 2020:
HME TypeModelSizeQuantity
ANFO Loader ....................... Subscription required ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 8, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 8, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 8, 2020
....................... Subscription required ....................... Subscription required Subscription required May 25, 2023
....................... Subscription required ....................... Subscription required Subscription required May 25, 2023
....................... Subscription required ....................... Subscription required Subscription required May 25, 2023
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 26, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Corporate Presentation 2022
Quarterly Report 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Corporate Presentation 2018
Press Release 2018
Management Discussion & Analysis 2017
Pre-Feasibility Study Report 2016
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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