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Casposo-Manantiales Complex

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Mine TypeUnderground
StatusCare and Maintenance
  • Gold
  • Silver
Mining Method
  • Longitudinal retreat
Production Start... Lock
Mine Life... Lock
SnapshotThe Casposo-Manantiales complex (Casposo Mine) was placed on care and maintenance during the June 2019 quarter and exploration activities that commenced during the December 2019 quarter have been ongoing with the goal of recommencing processing operations.
Related Asset


Austral Gold Ltd. 100 % Indirect
Austral Gold Limited owns 100% interest in Casposo mine through Casposo Argentina Ltd, wholly owned subsidiaries of Austral Gold Limited.

Deposit type

  • Epithermal
  • Vein / narrow vein


The deposits and other prospects within the Casposo property are examples of low-sulphidation epithermal deposition of gold and silver.

The Casposo gold–silver mineralization occurs in both the rhyolite and underlying andesite, where it is associated with banded quartz–chalcedony veins, typical of low sulphidation epithermal environments. Adularia in the main veins gives an age date of 280 ± 0.8 Ma (K/Ar), very close to the published age dates for the andesite unit. Post-mineralization dykes, of rhyolitic (Kamila), aphanitic-felsic and trachytic (Mercado) composition often cut the vein systems. These dykes, sometimes reaching up to 30 m thickness, are usually steeply dipping and north–south oriented.

Mineralization at Casposo occurs along a 10 km long west–northwest to east–southeast trending regional structural corridor, with the main Kamila Vein system forming a sigmoidal set 500 m long near the centre. The Mercado Vein system is the northwest continuation of Kamila, and is separated by an east–west fault from the Kamila deposit. A series of east–west striking veins (Cerro Norte and Oveja Negra systems) appear to splay off these major sets to the east and northeast. The Casposo mineralized district identified to date covers an area of approximately 100 km2.

The gold–silver mineralization at the Kamila deposit is structurally controlled and occurs in crustiform-colloform quartz veins and stockworks in both andesite and rhyolite. The vein system extends for over 650 m along strike and over 260 m in depth, with a general dip of - 60º to -70º to the southwest. At surface, the individual veins attain 12 m maximum thickness, which decreases with depth to less than 4 m. Arsenopyrite and stibnite occur in the stockworks zones that are developed adjacent to the gold-bearing veins. Vein alteration is characterized by strong to pervasive silicification. Wallrock alteration varies from argillic to propylitic. Banded quartz–calcite veins with lattice bladed textures are common in the andesite.

The Mercado Vein system is exposed 200 m north of the Kamila deposit and is separated from it by the east–west-trending, south-dipping Mercado Fault. This northwest–southwest-trending hydrothermal quartz vein zone extends for over 500 m along strike, and over 150 m in depth, dipping -45º to -50º to the southwest. The Mercado system is variably composed of a compact vein (Main Mercado Vein or MV-1 Vein) or various thinner parallel veins, from which the north– south-trending MV-1 Vein splits. At surface, the Mercado Veins reach 8.0 m to 10 m in thickness (including over 4.0 m for the MV-1 Vein), but widths generally decrease with depth to less than 4.0 m.

The vein system is well exposed as two outcropping veins along a ridge line having an average width of about 1.7 m and a maximum width of 5 m. These veins trend northwest, extending for approximately 850 m along strike and 150 m in depth with dips averaging -65° to the southwest.



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Silver oz 143,5421,213,3161,411,292
Gold Equivalent oz 4,47326,83636,493
All production numbers are expressed as metal in doré.

Operational metrics

Daily processing capacity 1,100 t
Ore tonnes mined 33,318 t166,336 t
Tonnes processed 39,545 t181,242 t248,109 t
Annual processing capacity 400,000 t

Production Costs

All-in sustaining costs (AISC) Gold Equivalent USD 2,289 / oz   1,710 / oz   1,280 / oz  
C1 cash costs Gold Equivalent USD 2,133 / oz   1,362 / oz   998 / oz  


Capital expenditures M USD  ....  Subscribe  ....  Subscribe 0.5   8.5  
Sustaining costs M USD 0.06   8.3  
Revenue M USD 8.7   37.7  
After-tax Income M USD -13.2   -34.8  

Heavy Mobile Equipment

Fleet data has not been reported.


Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 21, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 21, 2023
....................... Subscription required ....................... Subscription required Subscription required Sep 21, 2023

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