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Honduras
El Mochito Expansion Project (El Mochito)

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 Location:
2 km S from Las Vegas, Honduras

  Project Contacts:
El Mochito
Las Vegas
Honduras
3420
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageConstruction
Mine TypeUnderground
Commodities
  • Zinc
  • Lead
  • Silver
Mining Method
  • Mechanized Cut & Fill
  • Longhole stoping
  • Shrinkage stoping
Mine Life10 years (as of Jan 1, 2019)
The mine has benefited from significant reinvestment including new mining equipment, new flotation cells and a new shaft currently under construction.

The Expansion Project includes:
- Installation of new internal underground mine shaft;
- Upgrading of the underground pumping and water management system;
- Upgrading the Process Plant;
- Increasing Tailings Dam Capacity.


Owners

Source: p. 11
CompanyInterestOwnership
American Pacific Honduras S.A. de C.V. (operator) 100 % Direct
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.

Contractors

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Deposit Type

  • Manto
  • Skarn


Summary:

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 a ........


Mining Methods

  • Mechanized Cut & Fill
  • Longhole stoping
  • Shrinkage stoping


Summary:

The El Mochito Mine is in its 70th year of operation and the mining infrastructure is expansive. The existing underground workings at the El Mochito Mine covers approximately 3,000 m in the east-wes direction, 1,200 m north-south and vertically from surface to a depth of up to 1,300 m (-1,000 m below the shaft collar).

The mine employs a combination of long hole, cut & fill and conventional mining methods to exploit the mineral from mineralized zones of different shapes and sizes. A predominately trackless mining fleet is used in mining and hauling the mineral to the vertical shafts through multiple ramp systems that are essentially a result of a series of stope access development that have been linked together, creating a complicated, inefficient and tight transport network of tunnels.

Mining operational costs are consequently relatively high and reflect this deep mining environment with long hauling distances, coupled with high pumping and pump maintenance costs. As the mine grows deeper, transport distances will further increase. As expected, this would result in increasing the size of the trucking fleet and manpower and increasing maintenance cost and mechanical parts inventory. There would also be negative impact on the ventilation circuit, and the water pumping system is old, very extended and inefficient.

The El Mochito Mine expansion project proposes to address these challenges through the upgrade of infrastructure and mining and min ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Zinc Payable metal kt 352
Zinc Metal in concentrate kt 41414
Lead Payable metal kt  ......  Subscription required
Lead Metal in concentrate kt  ......  Subscription required  ......  Subscription required
Silver Payable metal koz  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required  ......  Subscription required
Zinc Equivalent Payable metal M lbs  ......  Subscription required
Zinc Equivalent Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required

Operational Metrics:

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

Reserves at January 1, 2018:
A cut-off of 3.1% ZnEq was used to estimate Mineral Resources and is based on fourth quarter marginal direct operating costs.

CategoryTonnage CommodityGradeContained Metal
Measured 1,100 kt Zinc 5.5 % 134 M lbs
Measured 1,100 kt Lead 2 % 48 M lbs
Measured 1,100 kt Silver 65 g/t 2.3 M oz
Measured 1,100 kt Zinc Equivalent 8.2 % 198 M lbs
Indicated 6,452 kt Zinc 5.2 % 735 M lbs
Indicated 6,452 kt Lead 1.7 % 241 M lbs
Indicated 6,452 kt Silver 41 g/t 8.4 M oz
Indicated 6,452 kt Zinc Equivalent 7.2 % 1,019 M lbs
Measured & Indicated 7,553 kt Zinc 5.2 % 869 M lbs
Measured & Indicated 7,553 kt Lead 1.7 % 289 M lbs
Measured & Indicated 7,553 kt Silver 44 g/t 10.7 M oz
Measured & Indicated 7,553 kt Zinc Equivalent 7.3 % 1,216 M lbs
Inferred 4,972 kt Zinc 5.1 % 556 M lbs
Inferred 4,972 kt Lead 1.4 % 156 M lbs
Inferred 4,972 kt Silver 33 g/t 5.4 M oz
Inferred 4,972 kt Zinc Equivalent 6.7 % 739 M lbs

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Zinc Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Zinc Equivalent USD  ......  Subscription required&nbs
Assumed price Lead USD  ......  Subscription required&nbs
Assumed price Zinc USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
UG mining costs ($/t milled) USD 43.6 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2019 study.
Subscription required - Subscription is required.

2019 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Expansion CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
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
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (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
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 22, 2023
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2019
Annual Information Form 2018
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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