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Colombia

Quinchia Gold(Miraflores) Project

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Australia

Quinchia Gold(Miraflores) Project

Location: 191 NW from Bogota, Colombia

Project Contacts:

Suite 6, Level 1, 389 Oxford Street, Mount Hawthorn
GPO Box 2570
Perth
Western Australia, Australia
6016

Contacts:

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Categories

Overview

Mine TypeUnderground
StagePermitting
Commodities
  • Gold
  • Silver
Mining Method
  • Longhole open stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotThe Quinchia Gold Project comprises a cluster of porphyry and epithermal gold-copper targets, all situated within a 3km radius. The project’s Mineral Resources are underpinned by three key deposits: Tesorito, Miraflores, and Dosquebradas.

In October 2023, CARDER, the Environmental Authority of Colombia's Risaralda state, approved LCL's Environmental Impact Assessment (EIA) for the Miraflores deposit and issued an Environmental Licence.

The 2017 Miraflores Feasibility Study, which formed the basis for the Environmental Licence, outlines an underground mining operation feeding a 0.47 Mtpa processing plant. Notably, the plant design does not include the near-surface Tesorito porphyry gold deposit or the Dosquebradas Resource.

In early 2024 LCL Resources announced the Forest Use Permit was granted representing a major milestone in final approval for underground development of the Miraflores gold deposit.

Owners

SourceSource
CompanyInterestOwnership
LCL Resources Ltd. 100 % Indirect
LCL Resources Ltd holds the Quinchia Project.

LCL Resources Ltd has executed a Binding Share Purchase Option Agreement with Tiger Gold Corporation (”TGC”) for the divestment of its Colombian projects, being the Andes Gold Project and the Quinchia Project.

LCL has granted TGC an option to acquire its Colombian projects. TGC to pay LCL $1 million in cash upon satisfaction of the Conditions Precedent. TGC must complete a transaction to go public on a recognised Canadian stock exchange by the 31st December 2025. Completion of the transaction is expected to take place around the end of February 2025.

Contractors

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SourceSource

Deposit type

  • Porphyry
  • Epithermal

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 magmatic hydrothermal Au (Cu) and Au-Ag (Pb, Zn, Cu) deposit types are associated with the geochemical and cooling history of the porphyry bodies.

The Quinchia Gold Project comprises a cluster of porphyry and epithermal gold-copper targets each located within a 3km radius, underpinned by Mineral Resources from three deposits Tesorito, Miraflores and Dosquebradas. Miraflores is an advanced component of the Quinchia Gold Project.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. Annual
Gold oz 48,000
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
Daily processing capacity 1,300 t *
Annual processing capacity 474,500 t *
Waste tonnes, LOM 415 kt *
Ore tonnes mined, LOM 4,326 kt *
Total tonnes mined, LOM 5,026 kt *
Tonnes processed, LOM 4,326 kt *
* According to 2017 study.

Production Costs

CommodityUnitsAverage
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

CurrencyAverage
UG mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2017 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 4, 2025
....................... Subscription required ....................... Subscription required Subscription required Jan 4, 2025

Total WorkforceYear
...... Subscription required 2017

Aerial view:

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