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Ecuador
La Plata (La Mina) Project

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 Location:
30 km NW from Santo Domingo, Ecuador

  Project Contacts:
Suite # 501 543 Granville St.
Vancouver
British Columbia, Canada
V6C 1X8
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
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  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Copper
  • Zinc
  • Lead
  • Gold
  • Silver
Mining Method
  • Drift & Slash
  • Mechanized Cut & Fill
  • Room-and-pillar
  • Cemented backfill
Mine Life7.1 years (as of Jan 1, 2019)
Latest NewsAtico Receives Approval of its EIA for the Construction and Operation of the 69 kV Powerline and Substation at its La Plata Project, Ecuador     January 12, 2023


Owners

Source: p. 1
CompanyInterestOwnership
Atico Mining Corp. 100 % Indirect
August 20, 2021 - Atico Mining Corporation is pleased to announce that its wholly-owned subsidiary, Toachi Mining Inc. (“Toachi”), has acquired the remaining 40% of the issued and outstanding shares of Compañia Minera La Plata S.A. (“CMLP”), which owns the concessions comprising the La Plata project. The acquisition was completed pursuant to a share purchase agreement dated the date hereof among Toachi, Atico and certain shareholders of CMLP. As a result of the Acquisition, CMLP is now a wholly-owned subsidiary of Toachi.

Contractors

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Deposit Type

  • VMS


Summary:

La Mina is mainly hosted by a sequence of predominantly basaltic to andesitic volcanics with a central felsic unit constituting the Eocene portion of the Macuchi Unit. The basalt-andesite volcanic sequence is in contact with a black shale unit to the west and a polymictic conglomerate to the east. The polymictic conglomerate is a much younger, unconformable unit covering in part the Macuchi Unit, and the black shales represent a conformable sedimentary sequence overlying the volcanic sequence.

With the exception of preferentially sulphide-replaced clasts, there are no primary sulphide textures at La Mina within the massive sulphide unit.

Well-developed planar layering in the sulphide bodies is tectonic in origin, with total textural destruction of primary features.

La Mina mineralization occurs at the contact between hanging wall basaltic to andesitic volcanics and the footwall andesitic rocks. The massive sulphide zone is usually conformably overlain by a narrow unit of jaspilitic exhalite which acts as a stratigraphic marker horizon.

Mineralization in the La Mina South and North Blocks occurs as massive to semi-massive lenses with thicknesses varying from several decimetres to a maximum of 12 meters, averaging 6 meters, with lateral extension that can reaches 100 meters. The mineralization occurs mainly as bedded layers and, to a lesser extent, as massive bodies with nondescript textures. Within a single sulphide zone, no geometr ........


Mining Methods

  • Drift & Slash
  • Mechanized Cut & Fill
  • Room-and-pillar
  • Cemented backfill


Summary:

Toachi would operate the proposed underground mine using its own labour and conventional technologies and equipment. Mine consumables such as fuel and rock bolts would be purchased from suppliers.

The La Mina VMS deposit comprises the La Mina South block and the La Mina North block. For present preliminary mine planning purposes, the La Mina North block is subdivided into two zones referred to as the “Upper North zone” and the “Lower North zone”; and the La Mina South block is referred to as the “South zone”. The proposed mine plan includes production from each of these three zones. The PEA assumes that Toachi would:
- Commence underground mine development in Year -1 by developing a new portal and a ramp to the Upper North zone. The Upper North zone is scheduled to be mined in Years 1 to 3. It is understood that a previous mine operator mined approximately 173 kt from the Upper North zone in years 1975 to 1981. The PEA assumes that some historic mine access headings would be rehabilitated and used as mine ventilation / escapeway headings.
- Develop a second new portal and ramp to access the Lower North zone and the South zone which are scheduled to be mined in Years 2 to 8 and Years 3 to 8 respectively.
- The proposed 800 tpd mill is scheduled to ramp-up and be commissioned in the first quarter of Year 1. The mine is scheduled to deliver 240 kt of material to the mill for processing in Year 1 increasing to 288 kt/yr in Year 2.

The ramps ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:
The Copper/Lead concentrate:
Copper - recovery - 89.4%; concentrate grade - 20.9% Cu;
Lead - recovery - 71.8%; concentrate grade - 4.1% Pb;
Zinc - recovery - 20%; concentrate grade - 9% Zn;
Gold - recovery - 43.1%; concentrate grade - 13 g/t Au;
Silver - recovery - 48%; concentrate grade - 141 g/t Ag.

The Zinc concentrate:
Copper - recovery - 4.5%; concentrate grade - 1.71% Cu;
Lead - recovery - 13.5%; concentrate grade - 1.3% Pb;
Zinc - recovery - 70.5%; concentrate grade - 51.2% Zn;
Gold - recovery - 26.5%; concentrate grade - 13 g/t Au;
Silver - recovery - 26.2%; concentrate grade - 125 g/t Ag.

CommodityProductUnitsLOM
Copper Metal in zinc concentrate M lbs 5.1
Copper Metal in concentrate M lbs 100
Zinc Metal in concentrate M lbs  ......  Subscription required
Zinc Concentrate kt  ......  Subscription required
Zinc Metal in zinc concentrate M lbs  ......  Subscription required
Lead Metal in zinc concentrate M lbs  ......  Subscription required
Lead Metal in concentrate M lbs  ......  Subscription required
Gold Metal in zinc concentrate oz  ......  Subscription required
Gold Metal in concentrate oz  ......  Subscription required
Silver Metal in concentrate koz  ......  Subscription required
Silver Metal in zinc concentrate koz  ......  Subscription required
Copper-Lead Concentrate kt  ......  Subscription required

Operational Metrics:

Metrics
Daily ore mining rate 800 t *
Daily processing capacity 800 t *
Tonnes processed, LOM 2,007 kt *
* According to 2019 study.

Reserves at March 30, 2019:
Mineral Resources cut-off grade is 4 g AuEq/t (4 gold equivalent grams/tonne). The gold equivalent grade formula, which assumes 100% metallurgical recoveries, is: AuEq ppm = Au ppm + (Cu % * 1.454) + (Ag ppm * 0.013) + (Zn % * 0.654) + (Pb %*0.532).

CategoryTonnage CommodityGradeContained Metal
Inferred 1,846 kt Copper 3.3 % 61 kt
Inferred 1,846 kt Zinc 4.6 % 84 kt
Inferred 1,846 kt Lead 0.6 % 12 kt
Inferred 1,846 kt Gold 4.1 g/t 244 koz
Inferred 1,846 kt Silver 50 g/t 2,966 koz
Inferred 1,846 kt Gold Equivalent 12.9 g/t 763 koz

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Lead USD  ......  Subscription required&nbs
Assumed price Zinc USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2019 study / presentation.

Operating Costs:

Units2019
UG mining costs ($/t milled) USD 37.9 *
Processing costs ($/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
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Processing OpEx $M USD 53.4
G&A costs $M USD 10.3
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross 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
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 8% $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 March 30, 2019:
HME TypeSizeQuantity
Cable bolter ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 30, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2019

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
Subscription required - Subscription is required.

News:

NewsDate
Atico Receives Approval of its EIA for the Construction and Operation of the 69 kV Powerline and Substation at its La Plata Project, Ecuador January 12, 2023

Subscription required - Subscription is required.

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