El Mochito Expansion Project

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Mine TypeUnderground
  • Zinc
  • Lead
  • Silver
Mining Method
  • Mechanized Cut & Fill
  • Longhole stoping
  • Shrinkage stoping
Mine Life... Lock
SnapshotThe El Mochito Expansion Project involves the optimization and expansion of the El Mochito mine.

The Expansion Project includes:
- Installation of new internal underground mine shaft;
- Upgrading of the underground pumping and water management system;
- Upgrading the crushing circuit, processing plant, and tailings handling capacity to increase processing from 2,200 metric tonnes/day to 2,800 metric tonnes/day.

The El Mochito mine has benefited from significant reinvestment including new mining equipment, new flotation cells and a new shaft currently under construction.
Related AssetEl Mochito


Kirungu Corp. 100 % Indirect
The El Mochito mine is 100% owned by American Pacific Honduras S.A. de C.V. (“AMPAC”), a company that was formerly a subsidiary of Ascendant Resources Inc. On April 27, 2020, Ascendant sold all the issued and outstanding shares of AMPAC to Kirungu Corporation.

Kirungu Corp. is a privately owned company controlled by the former Chief Operating Officer, and other senior operating staff of Ascendant.



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Deposit type

  • Manto
  • Skarn


Zinc-lead-silver mineralization of economic interest at El Mochito occurs in association with calc-silicate bearing skarn intervals hosted by limestone and calcareous shale of the Upper and Lower Atima Formation, in calcareous units of the Atima Formation’s main subunit, the Mochito Shale, in calcareous siltstone and shale of the Cantarannas Formation and in quartz-rich sandstones and siltstones of the siliciclastic-dominated Todos Santos Formation, which underlies the Cantarannas Formation. The stratigraphic section within which economic mineralization occurs at El Mochito slightly exceeds 1,250 m in true thickness.

Mineralization consisting of sphalerite, galena, argentite, tetrahedrite, acanthite, pyrrhotite and magnetite is associated with garnet and pyroxene skarn zones that are both structurally and stratigraphically controlled. The distribution of skarn directly reflects the geometry of the complex graben-related fault systems that channeled hot hydrothermal fluids through graben fill sequences to sites where they selectively reacted with calcareous wall rock to create siliceous, garnet and pyroxene-dominated skarn. Introduction of zinc-lead-silver mineralization on existing skarn zones reflects continued capacity of the graben’s fault systems to conduct the large volumes of hydrothermal fluid necessary to create this district’s high metal endowment.

Two main styles of zinc-lead-silver mineralization are present at El Mochito, these being mantos and chimneys, both of which show genetic association with hydrothermal fluid controlling fault systems. The largest mantos occur as stratabound replacement zones within the Lower Atima Formation, near its lower contact with the calcareous Cantarannas Formation. Manto style mineralization is also encountered in the central portion of the Atima Formation, along the upper and lower contacts of the Mochito Shale unit, typically adjacent to large chimney structures, and also within quartz rich clastic sediments of the Todos Santos Formation.

Chimney-style mineralization occurs as pipe-like accumulations of sulphides and associated skarn assemblages that are discordant to stratigraphy, often at high angles, and are spatially controlled by discrete zones of structural ground preparation which typically coincide with fault intersection zones or with dilational zones related to orientation changes or transfer zones along strike slip or dip slip fault systems. Chimneys at El Mochito are frequently rooted in zones of well-developed manto mineralization at the base of the Atima Formation and extend upward through that formation for substantial vertical intervals, with some passing through the Mochito Shale and onward to near surface elevations.

Manto and chimney deposits differ in their metal grade characteristics, with higher zinc lead and silver values and massive to submassive sulphide zones being more commonly seen in chimneys.



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Mining Methods


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Crushers and Mills


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CommodityProductUnitsAvg. AnnualLOM
Zinc Metal in concentrate kt 41414
Lead Payable metal kt 96
Lead Metal in concentrate kt 10101
Silver Payable metal koz 5,934
Silver Metal in concentrate koz 7427,417
Zinc Equivalent Payable metal M lbs 1,038
Zinc Equivalent Metal in concentrate M lbs 1201,203

Operational metrics

Daily mining capacity 2,800 t of ore *
Daily milling capacity 2,800 t *
Annual ore mining rate 966 kt *
Annual mining capacity 1,000 kt of ore *
Annual milling capacity 1,000 kt *
Waste tonnes, LOM 1,146,263 t *
Ore tonnes mined, LOM 9,655,774 t *
Tonnes milled, LOM 9,656 kt *
* According to 2019 study.

Production Costs

Cash costs Zinc Equivalent USD 0.58 / lb *  
All-in sustaining costs (AISC) Zinc Equivalent USD 0.97 / lb *  
Assumed price Lead USD 1.09 / lb *  
Assumed price Zinc USD 1.21 / lb *  
Assumed price Silver USD 15 / oz *  
* According to 2019 study / presentation.

Operating Costs

UG mining costs ($/t milled) USD 43.6 *  
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2019 study.

Project Costs

MetricsUnitsLOM Total
Expansion CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Income Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Net Income (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.


Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 5, 2023

Total WorkforceYear
...... Subscription required 2019

Aerial view:


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