Source:
p. 64
MCM (Miraflores Compañia Minera SAS) is a 100%- wned subsidiary of North Hill Holdings Group Inc., owned as to 100% by Metminco.
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.
Processing
- Gravity separation
- Calcining
- Flotation
- Concentrate leach
- Inline Leach Reactor (ILR)
- Merrill–Crowe
- Cyanide (reagent)
Source:
Summary:
The process facility is designed to treat 474,500 tonnes of ore per annum (1,300 tonnes per day). The wet plant is scheduled to operate seven days per week at a nominal treatment rate of 59 dry t/h.
Crushing Circuit
A run-of-mine (ROM) pad for storage of ore delivered by mine haul trucks will be established adjacent to the crushing plant feed bin (ROM bin). Ore will be reclaimed from the ROM stockpiles and delivered in the required blend to the ROM bin by a front-end loader.
A three-stage crushing plant will be provided to crush the ROM ore. The crushing plant has been designed to operate five days per week, 12 hours per day, at an effective utilisation of 70%, at a crushing rate of 220 t/h to produce sufficient product for the mill throughput of 474,500 dry t/a. The crushing circuit design will have sufficient capacity to build fine ore stocks to accommodate non-operational periods and tolerate shutdowns for maintenance requirements. The crushing plant pro ........

Recoveries & Grades:
Commodity | Parameter | Avg. LOM |
Gold
|
Recovery Rate, %
| ......  |
Gold
|
Head Grade, g/t
| 3.29 |
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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
| ......  |
Ore tonnes mined, LOM
| ......  |
Total tonnes mined, LOM
| ......  |
Daily processing capacity
| ......  |
Tonnes processed, LOM
| ......  |
Annual processing capacity
| ......  |
* According to 2017 study.
Reserves at October 30, 2017:
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 |
Total 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
|
|
......
|
- Subscription is required.
Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Oct 25, 2019
|
- Subscription is required.
Staff:
Total Workforce | Year |
|
2017
|
Corporate Filings & Presentations:
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News:
Aerial view:
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