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Colombia
San Matias Project

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 Location:
113 km S from Monteria, Colombia

  Project Contacts:
Cra 37A No 8-43 Ed. Rose Street Of. 702 Poblado
Medellín
Colombia
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  • Overview
  • Owners
  • Geology
  • Mining
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  • Production
  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life13 years (as of Jan 1, 2022)
Latest NewsCordoba Minerals Completes Initial In-fill Drilling Program and Confirms High-Grade Copper-Gold Mineralization Within the Core of the Alacran Deposit...     January 23, 2023


Owners

Source: p. 566
CompanyInterestOwnership
Cordoba Minerals Corp. 100 % Indirect
Cordoba has three subsidiary companies (ECSAS, MCSAS and RCSAS) in Colombia. MCSAS is the sole owner of record of twenty-six mining titles located in the departments of Córdoba and Caldas in the Republic of Colombia, including those for the Montiel East, Montiel West and the Costa Azul deposits. Cobre Minerals S.A.S. (“CM Company”) is the sole holder of record of mining title for the Alacran deposit (mining title III-08021) located in the municipality of Puerto Libertador, Córdoba. ECSAS is the ?perator of the Alacran Project.

Contractors

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Deposit Type

  • Porphyry


Summary:

The Project is located in an accreted oceanic terrane of the Western Cordillera, described as the Calima Terrane by Restrepo & Toussaint (1988). The host rocks likely belong to the Upper Cretaceous Cañasgordas Group, which is subdivided into the Barroso Formation of basalts, and the Penderisco Formation of turbidites, chert and limestone. The Project area comprises three primary lithological domains: intrusive rocks (including porphyries) in the Alacran, Montiel East and Costa Azul deposits; volcanic rocks in the Montiel West deposit; and volcaniclastic rocks in the Alacran deposit. Volcaniclastic rocks are also present in the Alacran Norte and Willian prospect areas. The volcanics and volcaniclastics likely belong to the early Cretaceous-age Barroso formation.

The Alacran deposit Cu-Au-Ag mineralization is hosted by a west-dipping Cretaceous succession comprising mafic volcanic rocks overlain by a calcareous volcaniclastic sequence and capped by preto syn-mineral, sill-like diorite and felsic sub-volcanic bodies. The sequence is approximately 550 m thick, and the diorites are about 200 m thick. Cu-Au-Ag mineralization occurs throughout the volcaniclastic package at Alacran, except within the lower mafic units. It is most strongly developed in the calcareous volcaniclastic sequence. Several different deposit models have been proposed for the Alacran deposit, including Volcanogenic Massive Sulphide (“VMS”), Skarn, Carbonate Replacement Deposit (“CRD”), and Iron Oxid ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

OP mining was considered a viable option for the study given that the mineralization is on or near surface. OP mining will include conventional drilling and blasting with a combination of a backhoe type excavator and front end loader type excavator loading broken rock into haul trucks, which will haul the material from the bench to the crusher, ROM stockpile, or WMF depending on the material type. Ancillary equipment includes dozers, graders, and various maintenance, support, service, and utility vehicles.

During pre-production, the mineralized material (above cut-off grade) will be hauled to designated stockpiles. The higher grade mill feed material will be hauled to a stockpile near the ROM pad located near the primary crusher. The saprolite material and lower grade mill feed will be hauled and stockpiled in a stockpile located south of the mill and crusher areas.

During production, higher grade mill feed material will be hauled directly to the primary crusher and either direct tipped into the crusher or stockpiled temporarily on the ROM pad. For the first three years of production, lower grade mill feed material (8.85 = NSR < 16.85) will continue to be stockpiled for later rehandling and processing. In the fourth and fifth year of production, mill feed material with NSR = 14.85 (Bin 7 and Bin 8) will be hauled directly to the crusher, while stockpiling material with 8.85 = NSR < 14.85. After the fifth year of production, all fresh material with NSR = ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper M lbs 69849
Gold koz  ......  Subscription required  ......  Subscription required
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing rate  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at October 31, 2021:

CategoryTonnage CommodityGradeContained Metal
Probable 102.1 Mt Copper 0.41 %
Probable 102.1 Mt Gold 0.26 g/t
Probable 102.1 Mt Silver 2.3 g/t
Indicated 121.9 Mt Copper 0.42 % 1,142 M lbs
Indicated 121.9 Mt Gold 0.28 g/t 1,092,557 oz
Indicated 121.9 Mt Silver 2.33 g/t 9,108,452 oz
Indicated 121.9 Mt Copper Equivalent 0.64 %
Inferred 5.1 Mt Copper 0.204 % 22.9 M lbs
Inferred 5.1 Mt Gold 0.206 g/t 34,731 oz
Inferred 5.1 Mt Silver 0.874 g/t 144,008 oz
Inferred 5.1 Mt Copper Equivalent 0.39 %

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Copper USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Copper USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Copper USD  ......  Subscription required *†
C1 cash costs Copper USD  ......  Subscription required&nbs
C1 cash costs Copper USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t mined) USD 2.05 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial 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 837.2
Refining costs $M USD  ......  Subscription required
Freight costs $M USD 239
G&A costs $M USD 141.6
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (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 January 11, 2022:
HME TypeModelSizeQuantity
Backhoe ....................... Subscription required 12 cu. m ....................... Subscription required
....................... Subscription required ....................... Subscription required
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....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 16, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 16, 2022
....................... Subscription required ....................... Subscription required Subscription required Jan 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Jan 11, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Corporate Presentation 2022
Pre-Feasibility Study Report 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Subscription required - Subscription is required.

News:

NewsDate
Cordoba Minerals Completes Initial In-fill Drilling Program and Confirms High-Grade Copper-Gold Mineralization Within the Core of the Alacran Deposit... January 23, 2023
Ivanhoe Electric Subsidiary Cordoba Minerals Signs Milestone Agreements with JCHX to Jointly Develop the Alacran Project in Colombia December 8, 2022
Cordoba Minerals Continues to Intersect High-Grade Copper-Gold Mineralization Within the Core of the Alacran Deposit at its 100%-owned San Matias Copper-Gold-Silver Project in Colombia December 5, 2022

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