The Serrote deposit and Caboclo exploration target are examples of mafic–ultramafic magmatic copper sulphide deposits. Shallow mineralisation over 2km strike.

The Serrote deposit and Caboclo prospect are within the Sergipano fold belt, which consists of five separate domains of metavolcanic and metasedimentary rocks deposited around Archean/Paleoproterozoic basement gneiss in the south and partially migmatized paragneisses, metasedimentary rocks, and granitoids. The Rio Coruripe domain includes the Jaramataia Group, a rift-related volcano-sedimentary sequence consisting of quartz-feldspathic (pink gneiss) and garnet– biotite gneisses (garnet gneiss), marbles, calcsilicate rocks, iron formation, and mafic– ultramafic layered intrusive rocks of the Serrote da Laje suite. The Serrote da Laje suite is a tectonically disrupted layered intrusion comprising hypersthenite, norite, gabbronorite, gabbro and anorthosite. Magnetitite bodies are associated with hypersthenite and norite. The intrusion is typically concordant with the host paragneiss. The mafic–ultramafic units are locally intruded by granite and granitic pegmatite dikes. Metamorphism reached granulite facies, with some areas of retrograde metamorphism at amphibolite facies.

Mineralisation at Serrote consists of multiple, stacked pancake-like layers with approximate dimensions of 2 km north–south, 1 km east–west, 5 m to 250 m thick, and a maximum depth of mineralisation of 200 m. Pink and garnet gneiss ........

Mining operations are conducted year-round. The Serrote Mine has been developed as a conventional open pit operation using conventional equipment. The Serrote pit will be developed in five phases. The current mine plan was prepared using a peak mine production rate of 12.7 million tonnes per annum (Mt/a) and a mine operating life of 12 years. Ore is delivered to the crusher pad adjacent to the process plant at an average rate of 11,390 tonnes per day (t/d) or 4.1 Mt/a.

Mining is carried out by a contractor that supplies its own fleet of mining equipment up to the end of 2024; from 2025 onwards, MVV will own and operate a new fleet. The equipment type and size selection were carried out by MVV, and both the contractor and MVV fleets will be of compatible sizes.

Mining activities will generate four types of overburden/waste materials: topsoil, saprolite (overburden), transitional weathered rock, and waste rock. There will be one waste rock storage facility (WRSF), an oxide material stockpile, and a temporary sulphide ore stockpile.

The final pit will have a top elevation of 325 masl and a pit bottom elevation of 75 masl, a total depth of 250 m.

The pit slope recommendations were based on 10–20 m bench heights, 6.5–8.5 m berm widths, 15 m safety benches, and 30–300 m inter-ramp heights, and resulted in recommended bench slope angles that ranged from 45–80º, and inter-ramp angles that ranged from 31–55º.

The Serrote pit will ........

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