The mineralized zones in the Las Minas district are Au-Cu-bearing skarn deposits.

Copper and gold mineralization have been recognized in three settings within the Las Minas property: proximal skarn, distal skarn and quartz veins. Proximal-type skarn is the dominant skarn alteration observed within the Las Minas resource zones (El Dorado and Santa Cruz) while distal and gold-bearing quartz veins occur in the exploration targets to the east and north of the Las Minas resources.

Proximal skarn developed along marble-diorite contacts, both as exoskarn developed within the sedimentary rock, and as endoskarn developed within the intrusion. The skarn alteration has a typical zoning of marble-exoskarn-endoskarn-diorite. The distinction between exoskarn and endoskarn can be very difficult because the skarn alteration (especially garnet replacement) can be texturally destructive.

Proximal skarn alteration is dominantly garnet-rich with lesser amounts of pyroxene, and locally garnet appears to have replaced pyroxene. The skarn contains variable amounts of magnetite and lesser sulfide minerals.

Distal skarn is exposed within the canyon walls at elevations from ~1,700 m to 2,100 m. The distal skarn is highly variable in character. Distal skarn consists of massive sulphides and/or massive magnetite in stockworks, pipes, and replacement pods within the variably marbleized limestone.

Mineralization associated with various distal skarn m ........

Mineralization consists of two deposits: El Dorado and Santa Cruz. Due to its proximity to surface, the El Dorado East Zone will be targeted early in mine life. This material will be mined via Room and Pillar (RPL) methods using three access points and will be hauled directly to the processing plant using underground haul trucks.

Prior to completion of Zone A, the Main Portal is developed to recover the deeper El Dorado West (Zones C, D, and E) material. Santa Cruz (Zone B) is developed using internal ramping, mined via longhole stoping methods, and hauled to the crusher. This deposit will be mined using a combination of Long-Hole Stoping (LHS) and room and pillar methods. All mineralized material will be hauled via truck to an underground crusher at 1367L, where it will be crushed and conveyed to the processing plant at surface. For LHS, levels will be located throughout the mine at 20 m vertical increments which will be connected by the main ramp sized at 5.0 m W x 5.0 m H. Where the deposit becomes shallow dipping, RPL is utilized to recover mineralized material. These areas will be accessed utilizing existing LHS development.

Longhole stopes will be backfilled utilizing a cemented paste backfill comprised of tailings which will be pumped from surface. Run of mine material will be backfilled where possible, particularly in empty room and pillar voids, to avoid additional haulage cost to place at surface.

Due to the deposit geometry, it wil ........

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