Overview
| Stage | Preliminary Economic Assessment |
| Mine Type | Tailings |
| Commodities |
|
| Mining Method |
|
| Mine Life | 3.4 years (as of Jan 1, 2021) |
Tarachi Gold announced the signing of a Letter Agreement for the intended sale of the Magistral Project to Compañía Minera de Atocha S.A. de C.V.
Tarachi stopped conducting development work on the Magistral Project after it signed a binding Letter Agreement for the sale. |
| Latest News | Tarachi Gold Closes Sale Of Magistral Project May 24, 2023 |
Source:
p. 51
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.
Contractors
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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.
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 ........
Source:
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Flow Sheet:
Summary:
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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.
| Category | Tonnage | Commodity | Grade | Contained 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
|
Corporate Filings & Presentations:
| Document | Year |
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Press Release
|
2023
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Press Release
|
2022
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Press Release
|
2022
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2021
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2021
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2021
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2021
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