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Mexico
Cordero Project

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 Location:
36 km NE from Parral, Chihuahua, Mexico

  Project Contacts:
#701 - 55 University Ave
Toronto
Ontario, Canada
M5J 2H7
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  • Overview
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  • Geology
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  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Silver
  • Gold
  • Lead
  • Zinc
Mining Method
  • Truck & Shovel / Loader
Mine Life16 years (as of Jan 1, 2021)
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits.
Latest NewsDiscovery Reports Preliminary Feasibility Study on Cordero with After-Tax NPV of US$1.2 Billion and 28% IRR     January 24, 2023


Owners

Source: p. 47
CompanyInterestOwnership
Discovery Silver Corp. 100 % Indirect
The Cordero property consists of the 26 titled mining concessions totalling 34,909 contiguous hectares owned by Minera Titán S.V. de C.V. Mexico, a wholly owned Mexican subsidiary of Discovery Silver Corp.

Contractors

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Deposit Type

  • Skarn
  • Epithermal
  • Carbonate hosted


Summary:

The deposits on the Cordero property do not fit neatly into a single deposit type in any of the systems commonly used to categorize mineral deposits into groups with a similar genesis. This is partly due to the fact that the property is large and hosts many different types and ages of intrusive igneous as well as extrusive igneous rock; but even within the Cordero Main area, observations from surface mapping and core logging are consistent with overlapping deposit types. Of the deposit types that have been described and named in the technical literature, the ones with most relevance to Cordero are as follows:
• extensional intermediate sulphidation epithermal systems like Real de Angeles in Zacatecas;
• carbonate-hosted Pb, Zn (Ag, Cu, Au) in manto-style (skarn) and crosscutting chimney-style and felsic intrusive igneous contact-related massive sulphides like those at Santa Eulalia in northern Chihuahua.

The best-developed mineralization in the Cordero Main area occurs where intrusive igneous dikes and shallow-dipping sills are inter-fingered with marine sediments of the Mezcalera Formation, which consists of interbedded limestones, and sedimentary rocks composed of grains of fine clay (shale) to fine silt (siltstone) as well as larger grains of sand or quartz in sandstones.

The Ag-Au-Pb-Zn content at Cordero is in sulphide minerals, with pyrite, sphalerite and galena accounting for the significant majority of metal content; lesser amounts of t ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining of the Cordero deposit will be done by open pit methods utilizing a traditional drill, blast, load and haul sequence to deliver mill feed to the primary crusher for processing through the sulphide plant or placed on the heap leach pad. Waste material will be sent to either the rock storage facility (RSF) southeast of the pit or to the tailings storage facility (TSF) to the west of the pit.

The current geotechnical dataset is considered sufficient for PEA level-designs. Interramp pit slope angles (measured from bench crest to bench crest) range from 40° at the southwest side of the ultimate pit to 59° at the northeast side of the ultimate pit. Bench face angles range from 69° to 80°. Bench widths range from 8.5 to 16 m and have been designed to adequately retain rockfall.

Four pit phases were developed for the single open pit. Mining occurs on 10 m lifts with safety benches every 20 m using the provided geotechnical parameters by sector. Haul roads are designed at 35.4 m wide to accommodate 230-tonne class haul trucks.

Phase 1 will start being mined in Year-2 and will be utilized as quarry material for construction purposes. Phases 1 and 2 target the highest-grade areas of the deposit and are target the same pit shell target for the two areas. Phase bench elevations will range from 1640 masl to 1340 masl. All waste and mineralized material accesses will be on the southeast side of the phase, where the RSF and process destinations will b ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Silver Metal in conc./ doré koz 185,000
Silver Payable metal koz 164,818
Gold Payable metal koz  ......  Subscription required
Gold Metal in conc./ doré koz  ......  Subscription required
Lead Payable metal M lbs  ......  Subscription required
Lead Metal in lead concentrate M lbs  ......  Subscription required
Zinc Payable metal M lbs  ......  Subscription required
Zinc Metal in zinc concentrate M lbs  ......  Subscription required
Silver Equivalent Metal in conc./ doré koz  ......  Subscription required  ......  Subscription required
Silver Equivalent Payable metal koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2021 study.
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Reserves at October 20, 2021:
Sulphide Mineral Resources above an NSR Cut-off of $7.25/t and within a Reporting Pit Shell.
Oxide Mineral Resources above an NSR Cut-off of $4.78/t and within a Reporting Pit Shell.

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured & Indicated Sulphide 541 Mt Silver 20 g/t 344 M oz
Measured & Indicated Oxide 98 Mt Silver 19 g/t 60 M oz
Measured & Indicated Sulphide 541 Mt Gold 0.06 g/t 1,035 koz
Measured & Indicated Oxide 98 Mt Gold 0.05 g/t 168 koz
Measured & Indicated Sulphide 541 Mt Lead 0.29 % 3,424 M lbs
Measured & Indicated Sulphide 541 Mt Zinc 0.51 % 6,132 M lbs
Measured & Indicated Sulphide 541 Mt Silver Equivalent 48 g/t 837 M oz
Measured & Indicated Oxide 98 Mt Silver Equivalent 23 g/t 74 M oz
Inferred Sulphide 108 Mt Silver 14 g/t 49 M oz
Inferred Oxide 35 Mt Silver 16 g/t 18 M oz
Inferred Sulphide 108 Mt Gold 0.03 g/t 99 koz
Inferred Oxide 35 Mt Gold 0.04 g/t 44 koz
Inferred Sulphide 108 Mt Lead 0.19 % 451 M lbs
Inferred Sulphide 108 Mt Zinc 0.38 % 909 M lbs
Inferred Sulphide 108 Mt Silver Equivalent 34 g/t 119 M oz
Inferred Oxide 35 Mt Silver Equivalent 20 g/t 22 M oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Silver Equivalent USD  ......  Subscription required&nbs
Total cash costs Silver Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Silver 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
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
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Operating Costs:

Units2021
OP mining costs ($/t mined) USD 2.13 *
OP mining costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Expansion CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 1,398
Transportation (haulage) costs $M USD 527
G&A costs $M USD 194
Total OpEx $M USD  ......  Subscription required
Mining Taxes $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
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of November 30, 2021:
HME TypeSizeQuantityLeased or
Contractor
Drill (blasthole) 220 mm ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Jul 27, 2022
....................... Subscription required ....................... Subscription required Subscription required Jul 27, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 21, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Aug 23, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Preliminary Economic Assessment 2022
................................... Subscription required 2021
................................... Subscription required 2021
Preliminary Economic Assessment 2018
Subscription required - Subscription is required.

News:

NewsDate
Discovery Reports Preliminary Feasibility Study on Cordero with After-Tax NPV of US$1.2 Billion and 28% IRR January 24, 2023
Discovery Announces 2023 Work Program & Budget for Cordero January 12, 2023

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