The majority of mineralization within the concession area consists of volcanic hosted goldsilver + copper, lead, and zinc epithermal quartz veins of intermediate sulphidation type. There is a vertical zonation of metals and base metal grades are higher at depth, although, in general, gold grades appear to stay constant.

In addition to these epithermal quartz veins, there are several alluvial gold deposits derived from weathering of the mineralized veins and gold mineralization is also hosted within skarns associated primarily with selective replacement of carbonate rocks.

Mineralization at the Hemco Property is hosted in the Panama, Pioneer, and Constancia groups. The Porvenir, Leticia, and San Antonio deposits are within the Constancia Group. Gold mineralization at Luna Roja is hosted within skarns associated primarily with selective replacement of carbonate rocks of the Cretaceous Metapán Formation.

Vein Deposits
The majority of mineralization within the concession area consists of volcanic hosted gold-silver ± copper, lead, and zinc epithermal quartz veins of intermediate sulphidation type. There is a vertical zonation of metals, and base metal contents are higher at depth, although, in general, gold grades appear to stay constant except in those areas near surface where residual gold has been liberated by the oxidation of pyrite and weathering/disintegration of host rock.

The epithermal veins at Bonanza are characterized ........

Hemco is actively mining and producing from the Panama and Pioneer mines. Porvenir is a separate mining project located approximately 14 km from the Hemco Plant.

Mining at Panama and Pioneer currently accounts for all production from the Mineral Reserves. Ore production is from underground mining using shrinkage stoping and long-hole mining methods. Historical underground production has been primarily from shrinkage stoping, however, over the past few years, Mineros has successfully transitioned to mechanized long-hole stoping mining methods. Over the LOM, production from the Panama and Pioneer Mines accounts for approximately 40% to 50% of the ore processed at the Hemco Plant, with the remainder from artisanal sources and remaining shrinkage stopes.

Panama Mine
The Panama Mine is a shallow operation comprised of the extraction of several veins, accessed by an adit. Workings are generally 1,300 m laterally into the Panama Mine and range from immediately below surface to 250 m deep. The Panama mine is accessed by a portal and ramp on the 850 Level. Production ore is transferred to ore chutes or truck loading stations where it is loaded onto 20 t trucks, then transported to surface to the Hemco Plant. The main haul level to surface is located on the 850 Level.

Mine designs for the Panama Mine were prepared by Mineros and SLR. SLR prepared mine designs for the Elefante and Cruzada orebodies, while Mineros completed designs for the other vei ........

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