Source:
p. 16
During fiscal 2021, Prime Mining Corp. completed the acquisition of the Los Reyes Project.
Deposit Type
- Breccia pipe / Stockwork
- Epithermal
- Vein / narrow vein
Summary:
The Property is in the Sierra Madre Occidental (SMO) mountain range of the North American Cordillera that extends for hundreds of kilometers from central to northern México in the Basin and Range province (Rossotti, Ferrari, Lopez-Martinez, & Rosas-Elguere, 2002). The SMO is a large continuous sequence of volcanicsthat spans in age from late Cretaceousto middle Tertiary (McDowell & McIntosh, 2012).
The mineralized zone is characterized by a low sulphide epithermal system containing silica stockwork veins. These zones are generally formed in felsic subaerial complexes in extensional strike slip structural settings. Low sulphidation gold deposits are associated with magmas where ore deposition occurs several kms above the intrusion, and display certain alteration assemblages (Cooke & Simmons, 2000). The intrusions are likely the result of tectonic activity, such as plate subduction and extension. Deep hydrothermal fluid flow systems comprised of meteoric water, as well as near surface systems such as hot springs, are the sites of mineralization. Mineral deposition takes place as the fluids undergo cooling by fluid mixing, boiling and decompression.
Mariposa-El Zapote-Tahonitas Trend
The Mariposa-El Zapote-Tahonitas structure strikes to the south-southeast and dips at approximately 50° to the southwest. Mariposa is the northernmost deposit along the mineralized trend and has a length of approximately 750 m. The structure at Mariposa is at the contact between andesite and granodiorite. This structure is exposed on surface intermittently along the road that provides access to the historic mine workings. Examination of the historic workings, which were developed on three levels, exploited an area of dilation along the structure that was 150 to 200 m in length (Lopez, 2009). Mineralization is associated with hydrothermal breccias.
San Miguel-Noche Buena Trend
The San Miguel West, East, and Noche Buena areas occur along a regional northwest – southeast striking structure that moderately dips between 50° and 60° to the south west . The San Miguel West and East deposits have a combined length of 1,450 m and a true width that varies from 9 m to 75 m. This trend shows evidence of previous workings, such as stopes, trenches, and adits. The host rock in the area andesites of the Lower Volcanic sequence that were subsequently intruded by an argillic altered feldspar-hornblende-biotite porphyry dike. The mineralized zone is associated with the brecciated zones proximal to the dike, as well as along the structure (Lopez, 2009).
Guadalupe Trend
The Guadalupe trend, which bifurcates to the east from the San Miguel West deposit, is subdivided into the Guadalupe East and Guadalupe West deposits that are separated by the “6 de Enero” claim. The trend, which has an east-west orientation, is strongly silicified and contains zones of silica stockworks. Guadalupe East and Guadalupe West have a cumulative length of 1,675 m and a true width that varies from 4 m to 68 m. The area was previously mined, with underground working that extend laterally by approximately 1 km and vertically to 400 m. The host rocks to mineralization are intermediate volcanics (typically andesitic flows and tuffs) of the Lower Volcanic sequence. This volcanic sequence gently dips to the eastward (Lopez, 2009).
Summary:
The Guadalupe de los Reyes Project has been divided into East and West areas. The West area open pits are El Zapote North, El Zapote South, San Miguel North, San Miguel South, and Noche Buena. The proposed mining methods for the Guadalupe de los Reyes deposit is conventional open pit methods utilizing off-highway trucks and loaders. Mining is proposed to occur sequentially in five open pits.
The West area pit designs incorporate a 50 degree inter-ramp pit slope depending on rock type. Bench configuration is based on triple benching 5-meter benches with a dig-face angle of 70 degrees. The majority of benches were designed with five-meter-wide benches with 7- meter catch benches. Catch benches were designed at every third bench.
Haul roads were designed for a total width of 15 meters, which accommodates the main haul surface, berms, and ditches. All haul roads were designed not to exceed 10 percent gradients. This haul road width and grade will support the selected truck size.
Flow Sheet:
Crusher / Mill Type | Model | Size | Power | Quantity |
Jaw crusher
|
|
|
|
1
|
Cone crusher
|
|
|
|
2
|
Ball mill
|
|
|
|
1
|
Processing
- Gravity separation
- Centrifugal concentrator
- Carbon re-activation kiln
- Agitated tank (VAT) leaching
- Carbon in leach (CIL)
- Elution
- Carbon adsorption-desorption-recovery (ADR)
- Solvent Extraction & Electrowinning
- Cyanide (reagent)
Flow Sheet:
Summary:
The recovery method chosen for the Los Reyes is a conventional milling circuit with a gravity and carbon-in-leach (CIL) and heap leach process.
Recoveries & Grades:
Commodity | Parameter | Avg. LOM |
Gold
|
Recovery Rate, %
| 93 |
Silver
|
Recovery Rate, %
| 83 |
Gold Equivalent
|
Recovery Rate, %
| 95 |
Projected Production:
Commodity | Product | Units | LOM |
Gold
|
Payable metal
|
koz
| 328 |
Silver
|
Payable metal
|
koz
| ......  |
Gold Equivalent
|
Metal in doré
|
koz
| ......  |
Operational Metrics:
Metrics | |
Daily milling rate
| 1,500 t * |
Stripping / waste ratio
| 11.7 * |
Daily ore mining rate
| 1,500 t * |
Waste tonnes, LOM
| 64,531 kt * |
Ore tonnes mined, LOM
| 5,502 kt * |
Total tonnes mined, LOM
| 70 Mt * |
Tonnes milled, LOM
| 5.5 Mt * |
Annual ore mining rate
| 540,000 t * |
* According to 2014 study.
Reserves at March 24, 2020:
Cutoff grade of 0.22 g/t gold applied.
Category | Tonnage | Commodity | Grade | Contained Metal |
Measured
|
8,527 kt
|
Gold
|
1.24 g/t
|
341 koz
|
Measured
|
8,527 kt
|
Silver
|
28.98 g/t
|
7,946 koz
|
Indicated
|
11,225 kt
|
Gold
|
0.81 g/t
|
293 koz
|
Indicated
|
11,225 kt
|
Silver
|
23.99 g/t
|
8,658 koz
|
Measured & Indicated
|
19,752 kt
|
Gold
|
1 g/t
|
633 koz
|
Measured & Indicated
|
19,752 kt
|
Silver
|
26.15 g/t
|
16,604 koz
|
Inferred
|
7,094 kt
|
Gold
|
0.78 g/t
|
179 koz
|
Inferred
|
7,094 kt
|
Silver
|
29.95 g/t
|
6,831 koz
|
Corporate Filings & Presentations:
Document | Year |
...................................
|
2021
|
...................................
|
2020
|
...................................
|
2019
|
...................................
|
2019
|
Form 10-K
|
2018
|
Technical Report
|
2018
|
Technical Report
|
2014
|
- Subscription is required.
News:
News | Date |
Prime Reports New High-Grade Step-Out Results from Guadalupe East 52.1 gpt Au and 1,007.6 gpt Ag over 4.3 Metres and 7.62 gpt Au and 1,970.0 over 1.5 Metres in Drill Hole 22GE-32
|
April 12, 2022
|
Prime Mining Corp.: Drilling Intercepts 35 Metres of 4.9 gpt Gold Extending Los Reyes Z-T Structure 450 Metres
|
February 17, 2022
|
Prime Mining Corp.: Noche Buena Deposit Size Expanding at Los Reyes
|
January 12, 2022
|
Prime Mining Corp.: Deeper Phase 1 Drilling Confirms Strike and Depth Potential of the Zapote-Tahonitas Mineralized Structure
|
October 12, 2021
|
Additional High-Grade Results Expand Open-Pit Potential at Guadalupe East
|
September 8, 2021
|
Prime Mining Discovers Gold-Silver Zones in San Miguel East Pit-Constrained Resource and Near-Surface Mineralization at Las Primas
|
August 4, 2021
|
Prime Mining Intercepts 36.1 Metres With 1.29 gpt Au and 60.7 gpt Ag at Noche Buena Deposit as New Drilling Continues Expansion
|
July 12, 2021
|
Prime Mining Intercepts 4.44 gpt Gold and 1,060.1 gpt Silver over 7.5 Metres at New Discovery 1.3 Kilometres from Guadalupe East; Phase 2 Drilling Underway
|
June 28, 2021
|
Vista Gold Corp. Receives $1.0 Million Guadalupe de los Reyes Payment
|
June 28, 2021
|
Prime Mining Corp.: More Bonanza Grade Gold-Silver at Los Reyes as Ongoing Drilling Expands Guadalupe East and Zapote South
|
May 25, 2021
|
Prime Reports Results Including 8.95 gpt Au and 74.5 gpt Ag over 4.5 Metres and 1.96 gpt Au and 63.6 gpt Ag over 18.7 Metres from Ongoing Drilling at Los Reyes
|
April 6, 2021
|
Prime Mining Extends Bonanza Grade Gold-Silver Mineralization 150 Metres Below Previous Drilling in Estaca Vein
|
March 18, 2021
|
Vista Gold Corp. Receives $1.1 Million Guadalupe de los Reyes Payment
|
January 11, 2021
|
Prime Mining Reports Results of Guadalupe East Sampling at Los Reyes Continue to Demonstrate Resource Expansion Potential
|
October 26, 2020
|
Prime Mining Finds More Significant Surface Mineralization at its Los Reyes Gold-Silver Project
|
August 19, 2020
|
Prime Mining Completes Acquisition of Los Reyes Gold-Silver Project
|
July 20, 2020
|
Prime Mining Reports Los Reyes Surface Sample Results of 63.0 Metres at 1.78 gpt Gold and 71.0 gpt Silver
|
June 30, 2020
|
Prime Mining Reports 58.5 Metres at 0.83 gpt Gold and 20.2 gpt Silver from Guadalupe West At Los Reyes
|
April 21, 2020
|
Prime Mining Files NI 43-101 Technical Report on the Los Reyes Project, Mexico
|
April 7, 2020
|
Prime Mining Announces Measured and Indicated In-Pit Oxide Mineral Resource of 19.8 Million Tonnes Containing 833,000 Gold Equivalent Ounces at 1.31 gpt at Los Reyes Project, Mexico
|
April 2, 2020
|
Prime Mining Completes Surface and Access Rights Agreement for Los Reyes
|
March 3, 2020
|
Prime Mining Reports 39.0 Metres at 6.75 gpt Gold and 58.2 gpt Silver from Zapote South At Los Reyes
|
February 26, 2020
|
Prime Mining Reports 37.5 Metres at 3.9 gpt Gold and 36.5 gpt Silver from Zapote South At Los Reyes
|
February 5, 2020
|
Prime Mining Reports Up To 30 Metres at 3.9 gpt Gold and 40 gpt Silver Between Zapote North and South at Los Reyes
|
January 20, 2020
|
Prime Mining Raises Over $8.7 Million and Acquires Rights to Los Reyes Gold Project in Mexico
|
August 28, 2019
|
Minera Alamos Updates Progress at Guadalupe de los Reyes Gold Project, Sinaloa, Mexico
|
June 19, 2018
|
- Subscription is required.