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Mexico
Fenix Expansion Project (El Gallo)

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 Location:
32 km NE from Guamuchil, Sinaloa, Mexico

  Project Contacts:
Blvd. Antonio Rosales 855 Altos 12 Col. Morelos
Guamúchil
Sinaloa, Mexico
81460
Phone  ...  Subscription required
Fax01(673)-732-4420
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Silver
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life9.5 years (as of Jan 1, 2020)
The Fenix Project, which is currently under consideration but has not been approved for development, contemplates a twophase development process. Phase 1 includes the reprocessing of material from the gold heap leach pad at the existing El Gallo Project. Phase 2 includes the processing of open pit silver mineralization from El Gallo Silver at the existing process plant.


Owners

Source: p. 16
CompanyInterestOwnership
McEwen Mining Inc. 100 % Indirect
McEwen owns its interest in the concessions through its 100% ownership of Nevada Pacific Gold Ltd., which owns 100% of Pangea Resources, Inc. Through Pangea Resources’ 100% ownership of Compania Minera Pangea, S.A. de C.V. (Minera Pangea), McEwen owns the concessions.

Contractors

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Deposit Type

  • Breccia pipe / Stockwork
  • Epithermal


Summary:

Deposits
The mineral resource areas within Project Fenix are classified as low to intermediate-sulphidation epithermal precious metals deposits. Deposits of this type are common throughout the world and are very common throughout the Sierra Madre province of Mexico. The Project Fenix deposits can be silver dominant (El Gallo Silver) or gold dominant (El Gallo Gold). Although the mineral resource areas have differing mineralogy and morphology, all deposits in the Project have quartz stockwork and quartz breccia as the main mineralization hosts.

El Gallo Silver
A low to medium sulphidation silver-dominant epithermal precious metal deposit. Silver mineralization is associated with minor gold as well as anomalous lead and zinc. Certain features of the El Gallo Silver deposit distinguish it from many other typical Mexican epithermal deposits. For example, mineralization is not hosted in through-going fault veins instead it is hosted in breccias and quartz stockwork zones associated with hypabyssal intrusions and pre-existing breccia zones. Often, the mineralized zones are shallowly-dipping, controlled by sill-like intrusive contacts and other lithologic contacts or subhorizontal structures.

El Gallo Gold El Gallo Gold consists of low- to intermediate-sulphidation epithermal gold and silver mineralization. The majority of the El Gallo Gold deposits are gold dominant and locally contain strongly anomalous base metals. Mineralized zon ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining Sequence Description
The Project Fenix Phase 1 production starts off with the mining (unloading) of the 3/8” crushed Heap Leach Material from the El Gallo Gold Project by dozing, loading and hauling the material using a bulldozer, two wheel loaders and an articulated dump truck to feed a hopper at the base of the leach pad that will subsequently feed a conveyor that will transport the ore to the processing plant, located immediately adjacent to the heap leach pad.

The mining of the HLM will occur during years one to six and El Gallo Silver (EGS) for Phase 2 begins in year seven and will continue to year ten.

The Project Fenix Phase 2 starts with El Gallo Silver open pit production which is expected to come on stream at the beginning of year seven. Phase 2 plant construction will commence 36 weeks before Phase 1 production (HLM) is depleted in that year. From year seven EGS will supply 100% of the Run of Mine (ROM) required for the mill. El Gallo Silver open pit mine will operate continuously for four years in succession, with the tenth year if the project being its final year of operation.

The mill feed from El Gallo Silver Phase 2 will be trucked over public and purpose-built roads to Project Fenix processing facilities. The estimated total distance that the mineralized material needs to be hauled is 9.3 km for El Gallo Silver.

The unloading of the HLM and the mining of the El Gallo Silver pits will be conducted usi ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold Equivalent oz 347,137
Silver oz  ......  Subscription required
Gold oz  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at December 31, 2020:

CategoryTonnage CommodityGradeContained Metal
Proven 9.6 Mt Silver 13 g/t 4,159 koz
Proven 9.6 Mt Gold 0.48 g/t 150 koz
Probable 4.9 Mt Silver 95 g/t 15,084 koz
Probable 4.9 Mt Gold 0.23 g/t 36 koz
Proven & Probable 14.5 Mt Silver 41 g/t 19,243 koz
Proven & Probable 14.5 Mt Gold 0.39 g/t 187 koz
Measured 9.8 Mt Silver 17 g/t 5,242 koz
Measured 9.8 Mt Gold 0.54 g/t 170 koz
Indicated 4.7 Mt Silver 95 g/t 14,295 koz
Indicated 4.7 Mt Gold 0.25 g/t 38 koz
Measured & Indicated 14.5 Mt Silver 42 g/t 19,536 koz
Measured & Indicated 14.5 Mt Gold 0.45 g/t 208 koz
Inferred 0.2 Mt Silver 47 g/t 293 koz
Inferred 0.2 Mt Gold 0.48 g/t 3 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Silver Equivalent USD  ......  Subscription required&nbs
Cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Silver Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2020
G&A ($/t milled) USD 2.82 *
Total operating costs ($/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
Closure costs $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of December 31, 2020:
HME TypeModelSizeQuantity
Dozer ....................... Subscription required 306 kW ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 30, 2020
....................... Subscription required ....................... Subscription required Subscription required Dec 19, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Fact Sheet 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
Preliminary Economic Assessment 2018
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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