Deposit Type The Guanajuato Mining District is a world-class, high-grade, silver-gold, epithermal vein system with low sulfidation and adularia-sericite alteration. It is historically a well-known, studied, and documented mining district. The Guanajuato veins are typical of most epithermal silver-gold vein deposits in Mexico with respect to volcanic activity, volcanic and sedimentary host rock affinities, mineral paragenesis, silver-gold grades and ratios, vein mineralogy, and alteration styles. Epithermal systems form relatively near the surface, ranging from hot spring style gold and gold-silver mineralization developed in sinter terraces and shallow bedrock with deeper hydrothermal feeder zones to vein deposits and hanging wall splits at depths of several hundred meters. The hydrothermal solutions are driven by heat from volcanic activity. The hot circulating hydrothermal waters rise up through fissures with pressures building up until the hydrostatic pressure is released (sometimes explosively) allowing solutions to boil and precipitate the metallic minerals. Typically, this is a cyclical or recurring event as the fissures repeatedly get plugged and pressures build up until fracturing once again releases the hydrostatic pressure. The typical banding nature of the veins represents the cyclical pressure buildup, release by fracturing, boiling, and precipitation of minerals multiples of times until the system is finally exhausted. These multiple events allow the range of e ........

Guanajuato Silver plans to operate the combined El Cubo and El Pinguico properties to provide feed to the El Cubo Mill. Mechanized cut-and-fill stoping using small LHD (load-haul-dump) machines and handheld jackleg drills is the proposed method for the initial production from the underground operation. This method does allow for some degree of resuing to eliminate or minimize the amount of waste dilution and to provide fill for the stopes. Other methods, such as long hole stoping or stull stoping(tumbe sobre levante), may be considered in the future. Development methods that would be proposed would be conventional drill-blast-muck using jumbos for drilling and LHDs and trucks for haulage. Ground support would be installed, as required. Planned production from El Cubo will initially occur from stopes that were shut down and require no pre-production development. Endeavour Silver reported that approximately 9,000 tonnes have been drilled and blasted and can be hauled to the mill provided access can be restored. Another 60,000 tonnes of material is ready for drill and blasting after some minor development. Some de-watering may be required. Production would next occur in areas that have been drilled, sampled, and defined as Resources. These areas require decline ramps, ore drifts, and ventilation shafts. Approximately 150,000 tonnes are identified for development. El Cubo was last in operation in 2019. FWhen Endeavour operated the mine, the mine was divided up into differen ........

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