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Guatemala
Cerro Blanco Project

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 Location:
23 km NE from Jutiapa, Guatemala

  Project Contacts:
2000 - 885 West Georgia Street
Vancouver
British Columbia, Canada
V6C3E8
Phone  ...  Subscription required
Fax604-681-3701
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life13.7 years (as of Jan 1, 2022)


Owners

Source: p. 22
CompanyInterestOwnership
Bluestone Resources Inc. 100 % Indirect
The Cerro Blanco Gold Project exploitation concession, which covers an area of 15.25 km2, is owned by Elevar Resources S.A. (“Elevar”). Elevar is an indirect, wholly owned subsidiary of Bluestone Resources.

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein


Summary:

Deposit Geology
The Cerro Blanco deposit is a classic hot springs-related, low-sulphidation quartz-adularia-calcite vein system. It is localised along a complex fault intersection created during late Miocene-Pliocene tectonic extension within the active Central American volcanic arc. Local igneous activities that drove the Cerro Blanco hydrothermal system include a vesicular andesite dike swarm and mineralization stage rhyolite / dacite flow dome eruption and cryptodome intrusion.

The Cerro Blanco vein systems are best developed (widest and most continuous) within the 300 to 500 m elevation ranges. Principal host rocks include a lithic tuff–calcareous shallow marine- volcaniclastic sequence and, to a lesser extent, the overlying volcaniclastic-hydrothermal breccia sequence of probable Pliocene age. Vein zones often appear to transition to barren calcite beneath the ±300 m elevation in the northern half of the deposit. To the south, high-grade quartz-adularia-calcite vein zones continue at least another 100 m down to 200 m elevation. Some veins remain open at depth.

Mineralization
The Cerro Blanco gold deposit occurs within a large hydrothermal alteration zone covering an area about 5 km long and 1 km wide. This zone exhibits the effects of strong, pervasive hot spring type hydrothermal alteration.

Gold mineralization is hosted within a broadly north-south striking sequence of westerly-dipping siltstones, sandstones, and limest ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Cerro Blanco Gold Project will be mined by conventional open pit mining techniques using trucks and diesel-powered hydraulic excavators supported by production wheel loaders. Trucks will haul the ore to the primary crusher and to a run-of-mine (ROM) pad where it will be rehandled and processed through the concentrator.

The objective of pit phasing is to improve the economics of the Project by feeding the mill with higher-grade material during the earlier years and/or delaying waste stripping until later years. Internal phases are designed to have a lower stripping ratio than the subsequent phases. The Cerro Blanco deposit is split into two separate pits: the main pit and the satellite pit. The main pit is split into seven phases; three are in the north end, three are in the south end, and one is the final pit that includes both the north and south ends. The satellite pit has one phase.

Drill and blast specifications are established to effectively drill and blast a 10 m bench with a single pass. Loading in the pit will be performed by two 15 m3 face shovels and two 11 m3 wheel loaders. The loading units will be matched with a fleet of 90-tonne payload capacity mine haul trucks.

Over the mine life, the Project will produce 53.9 Mt of mill feed and 145.4 Mt of waste at an overall stripping ratio of 2.70. The total in-situ gold and silver ounces contained in the ultimate pit design are 2.85 Moz and 12.60 Moz, respectively, including the ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 2412,643
Gold Metal in doré koz 2,645
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Silver Metal in doré koz  ......  Subscription required

Operational Metrics:

Metrics
Daily milling rate  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Annual mining rate  ......  Subscription required
Annual milling rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at November 1, 2021:
Mineral reserves are estimated at a cut-off grade of 0.50 g/t Au Eq.
The mineral resource estimate is reported at a base case above a 0.4 g Au/t cut-off.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 37,618 kt Gold 1.89 g/t 2,286 koz
Proven In-Situ (OP) 37,618 kt Silver 8.33 g/t 10,084 koz
Probable In-Situ (OP) 16,279 kt Gold 1.07 g/t 560 koz
Probable In-Situ (OP) 16,279 kt Silver 4.81 g/t 2,518 koz
Proven & Probable In-Situ (OP) 53,896 kt Gold 1.64 g/t 2,846 koz
Proven & Probable In-Situ (OP) 53,896 kt Silver 7.27 g/t 12,602 koz
Measured Stockpiles 30 kt Gold 5.4 g/t 5 koz
Measured In-Situ (OP) 40,947 kt Gold 1.8 g/t 2,382 koz
Measured Stockpiles 30 kt Silver 22.6 g/t 22 koz
Measured In-Situ (OP) 40,947 kt Silver 7.9 g/t 10,387 koz
Indicated In-Situ (OP) 22,595 kt Gold 1 g/t 706 koz
Indicated In-Situ (OP) 22,595 kt Silver 4.2 g/t 3,058 koz
Measured & Indicated Stockpiles 30 kt Gold 5.4 g/t 5 koz
Measured & Indicated In-Situ (OP) 63,542 kt Gold 1.5 g/t 3,089 koz
Measured & Indicated Stockpiles 30 kt Silver 22.6 g/t 22 koz
Measured & Indicated In-Situ (OP) 63,542 kt Silver 6.6 g/t 13,445 koz
Inferred In-Situ (OP) 1,672 kt Gold 0.6 g/t 31 koz
Inferred In-Situ (OP) 1,672 kt Silver 2.1 g/t 112 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2022
OP mining costs ($/t mined) USD 2.53 *
OP mining costs ($/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 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $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 684.9
Site services costs $M USD 144.4
G&A costs $M USD 180.6
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin, %  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 0% $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 0% $M USD  ......  Subscription required
After-tax NPV @ 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.


Proposed Heavy Mobile Equipment as of February 22, 2022:
HME TypeSizeQuantity
Dozer (crawler) 460 HP ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2022
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 27, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Feasibility Study Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Preliminary Economic Assessment 2017
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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