Overview
Stage | Permitting |
Mine Type | Underground |
Commodities |
|
Mining Method |
- Longhole open stoping
- Backfill
|
Mine Life | 10 years (as of Jan 1, 2017) |
The Company is progressing PEA related studies for its 2.6Moz1 Quinchia Project and EIA submissions based on the advanced Miraflores underground project (part of Quinchia Project) as described in the 2017 Miraflores DFS. |
Source:
p. 9
MCM (Miraflores Compañia Minera SAS) is a 100%- owned subsidiary of North Hill Holdings Group Inc., owned as to 100% by Los Cerros.
Contractors
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Summary:
From a metallogenetic standpoint, mineralisation in the Quinchía district is genetically linked to the emplacement of a cluster of Miocene-aged hypabyssal porphyry bodies. A variety of magmatichydrothermal Au (Cu) and Au-Ag (Pb, Zn, Cu) deposit types are associated with the geochemical and cooling history of the porphyry bodies.
Mining Methods
- Longhole open stoping
- Backfill
Summary:
Retreat longhole open stoping with backfill is the mining method proposed. This method permits the extraction of the ore at maximum hydraulic radius after backfilling the stopes. The backfill assumed is waste material from mining and fine tailings material. Backfill is required for both stability and environmental reasons, allowing all waste material generated by the mining operation to be redeposited as fill in the mine.
All the mine accesses will be developed in rock mass with good geotechnical conditions. The first 80m of the decline ramp will be developed in basalt before transitioning to breccia.
The stopes derived from the mining optimisation have been used as the basis for the mine design. These stopes define the ore extraction along the ore body. The optimisation considered a cut-off grade of 1.75 g/t Au for the average grade of the material contained within the stope, which permits the extraction at maximum grade and generates a plant feed that produces 4,000 oz per month. A 40m crown pillar to surface from the upper stopes has been allowed.
The mine has its own primary ventilation circuit. Taking into account the various characteristics of the Miraflores Project design, such as the longhole open stopes and ore haulage by trucks on the main ramp, the mine will be ventilated by an exhausting system using surface fans extracting through a VCR raise with a section of 5 x 5 m. This raise, at 336 m in length, will connect the 1,071 mine le ........

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Source:
Summary:

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Projected Production:
Commodity | Units | Avg. Annual |
Gold
|
oz
| 48,000 |
All production numbers are expressed as metal in doré.
Operational Metrics:
Metrics | |
Waste tonnes, LOM
| 415 kt * |
Ore tonnes mined, LOM
| 4,326 kt * |
Total tonnes mined, LOM
| 5,026 kt * |
Daily processing capacity
| 1,300 t * |
Tonnes processed, LOM
| 4,326 kt * |
Annual processing capacity
| 474,500 t * |
Mining scale, tpd
| 1,400 t |
Processing scale, tpd
| 1,300 t |
* According to 2017 study.
Reserves at October 30, 2017:
The Ore Reserve has been estimated using a gold price assumption of US$1,200/oz and a cut-off grade of 1.53g/t Au.
Mineral Resources are reported at a gold cut-off grade (CoG) of 1.20 g/t Au.
Category | Tonnage | Commodity | Grade | Contained Metal |
Proven
|
1.7 Mt
|
Gold
|
2.75 g/t
|
150 koz
|
Proven
|
1.7 Mt
|
Silver
|
2.2 g/t
|
120 koz
|
Probable
|
2.62 Mt
|
Gold
|
3.64 g/t
|
307 koz
|
Probable
|
2.62 Mt
|
Silver
|
3.13 g/t
|
264 koz
|
Proven & Probable
|
4.32 Mt
|
Gold
|
3.29 g/t
|
457 koz
|
Proven & Probable
|
4.32 Mt
|
Silver
|
2.77 g/t
|
385 koz
|
Measured
|
2,958 kt
|
Gold
|
2.98 g/t
|
283 koz
|
Measured
|
2,958 kt
|
Silver
|
2.49 g/t
|
237 koz
|
Indicated
|
6,311 kt
|
Gold
|
2.74 g/t
|
557 koz
|
Indicated
|
6,311 kt
|
Silver
|
2.9 g/t
|
588 koz
|
Measured & Indicated
|
9,269 kt
|
Gold
|
2.82 g/t
|
840 koz
|
Measured & Indicated
|
9,269 kt
|
Silver
|
2.77 g/t
|
825 koz
|
Inferred
|
487 kt
|
Gold
|
2.36 g/t
|
37 koz
|
Inferred
|
487 kt
|
Silver
|
3.64 g/t
|
57 koz
|
Total Resource
|
9,756 kt
|
Gold
|
2.8 g/t
|
877 koz
|
Total Resource
|
9,756 kt
|
Silver
|
2.81 g/t
|
882 koz
|
Commodity Production Costs:
| Commodity | Units | Average |
All-in sustaining costs (AISC)
|
Gold
|
USD
|
643 / oz *
|
C1 cash costs
|
Gold
|
USD
|
599 / oz *
|
Assumed price
|
Silver
|
USD
|
18 / oz *
|
Assumed price
|
Gold
|
USD
|
1,300 / oz *
|
* According to 2017 study / presentation.
Operating Costs:
| Units | 2017 |
UG mining costs ($/t milled)
|
USD
| 27.9 * |
Processing costs ($/t milled)
|
USD
| ......  |
Total operating costs ($/t milled)
|
USD
| ......  |
* According to 2017 study.
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2017 Study Costs and Valuation Metrics :
Metrics | Units | LOM Total |
Initial CapEx
|
$M USD
|
......
|
Sustaining CapEx
|
$M USD
|
......
|
UG OpEx
|
$M USD
|
......
|
After-tax Cash Flow (LOM)
|
$M USD
|
......
|
After-tax NPV @ 5%
|
$M USD
|
......
|
After-tax NPV @ 8%
|
$M USD
|
......
|
After-tax IRR, %
|
|
......
|
After-tax payback period, years
|
|
......
|
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Mine Management:
Job Title | Name | Phone | Profile | Ref. Date |
.......................
|
.......................
|
.......................
|
|
Nov 2, 2022
|
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Staff:
Total Workforce | Year |
|
2017
|
Corporate Filings & Presentations:
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