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Mexico
Magistral Del Oro Project

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 Location:
3 km NW from Santa Maria del Oro, Durango, Mexico

  Project Contacts:
700 - 1090 West Georgia Street
Vancouver
British Columbia, Canada
V6E 3V7
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeTailings
Commodities
  • Gold
  • Copper
  • Silver
Mining Method
  • Truck & Shovel / Loader
Processing
  • Smelting
  • Electric furnace
  • Sulfuric acid (reagent)
  • Filter press plant
  • Agitated tank (VAT) leaching
  • Counter current decantation (CCD)
  • SART
  • Merrill–Crowe
  • Cyanide (reagent)
Mine Life3.4 years (as of Jan 1, 2021)
Latest NewsTarachi Gold Announces Private Placement Financing of Units for Gross Proceeds of $4,000,000 with Lead Order of $1,980,000 from Ausenco Engineering     February 15, 2022


Owners

Source: p. 51
CompanyInterestOwnership
Tarachi Gold Corp. 99 % Indirect
Ownership Tree
On 9 October 2020, Tarachi, through its 100% owned subsidiary, TGMEX, entered into a non-binding letter of intent with Manto Resources S.A. de C.V. pursuant to which Tarachi may acquire assets related to the Magistral tailings and processing plant. On 8 February 2021, Tarachi announced that the Purchase Agreement was signed with Manto.
The Purchase Agreement gives Tarachi, through TGMEX, a 99% ownership of Proyecto Magistral S. de R.L. de C.V., which includes the Tailings Lease Agreement and the Land Lease Agreement for the Magistral tailings and 100% ownership of the mill facility.

Deposit Type

  • Tailings


Summary:

The Magistral tailings deposit consists of the deposition of rejects from historical mill workings from the mid-1900s. These tailings were deposited within a natural low relief valley to the west of the historical mill and made up of relatively unconsolidated clay/silt particles. The provenance of the reject material was from treating gold bearing granodiorites and quartz veins. The primary sources were from the nearby mines: Colorados, Recompensa, Los Angeles, and Santa Ana. Thickness varies within the tailings up to 16 m.

The Magistral tailings is host to gold, copper and silver mineralization. The longest axes of the tailings deposit are approximately 550m north–south and approximately 575 m east–west.

A portion of the tailings, reportedly 750,000 tonnes, was removed from the deposit for secondary processing between 1992 and 1996. There are a few minor workings observed on the surface of the tailings deposit from artisanal miners (gambusinos), but these are not considered to have a significant impact on the estimated mineral resources.


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining of the tailings by small scale open pit mining methods made the most sense based on the size of the resource, grade tenor, grade distribution and location on top of topography of the deposit. AGP’s opinion is that with current metal pricing levels and knowledge of the mineralization, open pit mining offers the most reasonable approach for development.

The mine plan includes sending mineralized material to mill located adjacent to the tailings. The mine plan is based on Measured, Indicated and Inferred Mineral Resources. Any waste material encountered will be placed back within the footprint of the existing tailings facility being mined.

The mining method is excavation of the tailings by excavator or front-end loader, followed by haulage to the plant and tailings screening to remove coarse clumps, vegetation and other unwanted material, before processing. Two 20-t haul trucks are required to maintain the plant production due to the proximity of the feed material to the process plant. Some dilution along the original topographic contact is expected but should not be significant as the use of the excavator can help minimize this. Support equipment includes a track dozer, grader and water truck. No drilling and blasting is required.

The pit design was based on the revenue factor (RF) =1 pit shell. This design mined the blocks contained within the shell. Waste associated with the basal blocks, while included in the design, would be left in the pit at the time of mining. The dilution was manually added to the production schedule to reflect the corresponding change in tonnage and grades.

Ramps within the pit are only needed within the sinking cuts and are sized at 15 metres wide. The pit has access to topography along the edges and the existing roads present work for the haulroads. It is anticipated that due to the shallow nature of the mining small ramps connecting the levels will be pulled in by the excavators or dozed in with the available loose material. Access along the levels will be maintained for haulage to the main road leading to the mill.

The mine schedule delivers 1.1 Mt of material grading 1.87 gpt gold, 3.04 g/t silver, 0.16% copper, 1,400 ppm As and 15.8 ppm mercury to the mill over a 3.25-year mine life. No prestripping is required as the material is present on the surface at grades sufficient for processing. No waste is mined other than dilution which is accounted for. Separation of waste material at the contact of the pit is not expected to be hauled but rather placed to the side when encountered. Therefore, there is no stripping ratio to report.


Crushing and Grinding
Flow Sheet: Source
Crusher / Mill TypeModelSizePowerQuantity
Ball mill 2.1m x 4.5m 300 kW 1

Summary:

Grinding
An existing ball mill, arranged in closed circuit with a cyclone cluster, was selected to reduce the mineralized material from a nominal F80 of 130 µm to P80 of 90 µm. The ball mill will serve as lump material breaking, repulping and polish grinding.

The grinding circuit will include:
• One ball mill, 2.1 m diameter by 4.5 m length, powered by a 300 kW motor;
• Two slurry pumps to pump ball mill discharge to cyclones, with one pump in operation and one in standby;
• One cyclone cluster; and
• Associated material handling and storage systems (sump pumps, pump box).

The process plant feed material will be reclaimed from a hopper onto a trash screen. The trash screen undersize will report to a ball mill feed conveyor and discharge into the feed chute of the ball mill. The trash screen oversize will report to a trash bin. Process water will be added to the ball mill feed chute and cyclone feed pump box to maintain a target mill discharge slurry solids density. Ball mill discharge will be discharged into the cyclone feed pump box and will be pumped to the cyclone clusters. The cyclone underflow will return to the ball mill feed. The cyclone overflow will report to a leach circuit.


Processing

  • Smelting
  • Electric furnace
  • Sulfuric acid (reagent)
  • Filter press plant
  • Agitated tank (VAT) leaching
  • Counter current decantation (CCD)
  • SART
  • Merrill–Crowe
  • Cyanide (reagent)

Flow Sheet: Subscription required

Summary:

The project has an existing processing plant consisting of a ball mill, trash screen, four agitated leach tanks, three CCD thickeners, Merrill-Crowe circuit, cyanide destruction agitated tank, various reagent tanks, and material handling equipment. The condition of the equipment was inspected by a local Mexican contractor from SEM-PENTA which is the basis of the equipment identified in this flowsheet. Equipment refurbishment costs have been considered in the estimate based on the assessment report.

Metallurgical test work was conducted to validate the performance of the existing flowsheet and identify the addition of any new equipment to maximize the plant recovery. The modification to the plant considers the throughout of the existing plant and metallurgical test results.

Based on the metallurgical testing results a SART plant will be added to treat the Magistral tailings deposit.

Cyanide Leaching Circuit
The cyclone overflow slurry at a solids ........

Recoveries & Grades:

CommodityParameterAvg. LOM
Gold Recovery Rate, % 80.7
Gold Head Grade, g/t 1.87
Copper Recovery Rate, % 46.2
Copper Head Grade, % 0.17
Mercury Recovery Rate, % 45.5
Mercury Head Grade, g/t 15.8
Silver Recovery Rate, % 68.4
Silver Head Grade, g/t 3.1

Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 53
Gold Metal in conc./ doré koz 1654
Gold Metal in concentrate koz 6
Gold Metal in doré koz 48
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
Silver Payable metal koz  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required  ......  Subscription required
Gold Equivalent Payable metal koz  ......  Subscription required
Gold Equivalent Metal in conc./ doré koz  ......  Subscription required
Mercury Metal t  ......  Subscription required

Operational Metrics:

Metrics
Daily milling capacity  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at September 30, 2021:
The Mineral Resources for the project are reported at a 0.50 g/t Au cut-off grade within a constraining shell.

CategoryTonnage CommodityGradeContained Metal
Measured 1,099 kt Gold 1.95 g/t 69,000 oz
Measured 1,099 kt Copper 0.17 % 4,188,000 lbs
Measured 1,099 kt Silver 3.22 g/t 113,700 oz
Indicated 158 kt Gold 1.8 g/t 9,100 oz
Indicated 158 kt Copper 0.17 % 608,000 lbs
Indicated 158 kt Silver 3.11 g/t 15,800 oz
Inferred 17 kt Gold 1.78 g/t 1,000 oz
Inferred 17 kt Copper 0.1 % 66,000 lbs
Inferred 17 kt Silver 2.43 g/t 1,400 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required *
Assumed price Silver USD  ......  Subscription required *
Assumed price Gold USD  ......  Subscription required *
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t milled) USD 5.79 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Equipment leasing 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 15.8
G&A costs $M USD 1.2
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
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
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 December 12, 2021:
HME TypeSizeQuantityLeased or
Contractor
Dozer (crawler) 264 kW ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Feb 2, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 12, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 12, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 12, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

News:

NewsDate
Tarachi Gold Announces Private Placement Financing of Units for Gross Proceeds of $4,000,000 with Lead Order of $1,980,000 from Ausenco Engineering February 15, 2022
Tarachi Year in Review and 2022 Outlook January 26, 2022
Tarachi Gold Files Magistral PEA Technical Report on SEDAR January 21, 2022
Tarachi Announces Positive Results of Magistral PEA and Mineral Resource Estimate December 13, 2021

Aerial view:

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