Overview
Stage | Production |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Production Start | ... |
Mine Life | 2028 |
At the Soledad Mountain gold and silver are extracted from mineralized material by heap leaching. In addition, Golden Queen produces aggregate for construction and landscaping needs at the Soledad Mountain.
The fire incident at the secondary crusher occurred on December 14, 2023. The secondary crusher was down for approximately 6 weeks that delayed the stacking of new ore on the pad. The Golden Queen expects lower production in the first quarter of 2024 due to the fire; however, Golden Queen’s 2024 production is not anticipated to be materially affected. |
Source:
p. 5
Andean Precious Metals Corp. completed the acquisition of a 100% interest in Golden Queen Mining Company LLC which principal asset is the Soledad Mountain mine and heap leach operation.
Contractors
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Deposit Type
- Vein / narrow vein
- Epithermal
- Volcanic hosted
Summary:
Deposit Types
The Soledad Mountain gold-silver deposit is best interpreted as a volcanic rock-hosted, low sulfidation, epithermal vein system of the low base metal type. Individual major veins formed by episodic deposition of quartz, adularia, sericite, calcite, and sparse sulfide minerals in open faults and fractures, coeval with adjacent sheeted and quartz-vein stockwork zones and quartz ±adularia ±sericite alteration of nearby wall-rocks. Other examples of this deposit class include districts such as Oatman (Arizona), Bullfrog (Nevada), Bodie (California), and Tayoltita (Mexico). Soledad Mountain contains an unusually large number of individual veins within a relatively small area by comparison to the examples cited. Post-mineral faulting at Soledad Mountain has extensively sheared and brecciated the veins, most likely due to mid-Miocene to present-day wrench-fault tectonism between the nearby San Andreas and Garlock fault systems.
Mineralization
Gold and silver mineralization occurs in a swarm of mainly northwest-striking, subparallel to anastomosing, low-sulfidation, epithermal quartz veins that formed in faults and fractures within the Miocene rhyolitic volcanic units. Veins occur in parallel and, locally, en echelon patterns over a total strike-length of 7,000 ft and a total width of 4,500 ft. The veins have been sheared and brecciated to varying degrees by post-mineral faulting.
More than 20 gold-silver veins and related vein splits o ........
Summary:
The Soledad Mountain project is in production utilizing conventional hard rock open pit mining methods. Ore production to the crusher is planned at a maximum capacity of 12,500 tpd (4,500 ktons/yr). The total material rate is tied to equipment productivity and fluctuates by period. The maximum total production will reach a rate of 92,000 tons/day (32,600 ktons/yr). The mine is operating 7 days/wk with two, 12-hour shifts/day.
The Soledad Mountain Project is currently being mined by an owner operated fleet and this is planned to continue. The schedule and production requirements were based 20 ft high benches, 5 down the hole hammer drills, two 21 CuYd hydraulic shovels, one 15-17 CuYd front end loader, and twelve 100-ton class haul trucks. The auxiliary mine support fleet consists of three waters trucks, five tracked dozers, a rubber tire dozer, two graders, two excavators and an auxiliary drill.
The mine plan was developed with a phase approach.
Waste rock will be stored in several waste rock facilities designed in close proximity to each pit to reduce haulage costs. Whenever possible, pit backfilling will be utilized if doing so proves to be economic during operations. Some waste mined late in the mine life will be placed in a designated storage facility to meet closure requirements.
Design Parameters
Three mining areas were designed for the Soledad Mountain project with approximately 200-300 ft of operating width on each benc ........
Source:
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Flow Sheet:
Summary:
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Source:
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Reserves at September 30, 2023:
The mineral reserves Cutoff Grade (COG) is based on a Net Smelter Return (NSR) of $8.44/ore ton.
Mineral resources are reported by applying cutoffs of 0.008 oz AuEq/ton (0.274 g/t) at the Silver Queen zone and 0.005 oz AuEq/ton (0.171 g/t) at all other areas to all model blocks.
Mineral Resources are reported inclusive of Mineral Reserves.
Category | Tonnage | Commodity | Grade | Contained Metal | Recoverable Metal |
Proven
|
1,842 k tons
|
Gold
|
0.032 oz/ton
|
60 koz
|
39 koz
|
Proven
|
1,842 k tons
|
Silver
|
0.417 oz/ton
|
768 koz
|
284 koz
|
Probable
|
21,316 k tons
|
Gold
|
0.02 oz/ton
|
425 koz
|
309 koz
|
Probable
|
21,316 k tons
|
Silver
|
0.285 oz/ton
|
6,085 koz
|
2,252 koz
|
Proven & Probable
|
23,158 k tons
|
Gold
|
0.021 oz/ton
|
485 koz
|
348 koz
|
Proven & Probable
|
23,158 k tons
|
Silver
|
0.296 oz/ton
|
6,853 koz
|
2,536 koz
|
Measured
|
2,940,000 tons
|
Gold
|
0.029 oz/ton
|
86,000 oz
|
|
Measured
|
2,940,000 tons
|
Silver
|
0.377 oz/ton
|
1,108,000 oz
|
|
Indicated
|
43,152,000 tons
|
Gold
|
0.017 oz/ton
|
736,000 oz
|
|
Indicated
|
43,152,000 tons
|
Silver
|
0.235 oz/ton
|
10,133,000 oz
|
|
Measured & Indicated
|
46,092,000 tons
|
Gold
|
0.018 oz/ton
|
822,000 oz
|
|
Measured & Indicated
|
46,092,000 tons
|
Silver
|
0.244 oz/ton
|
11,241,000 oz
|
|
Inferred
|
3,996,000 tons
|
Gold
|
0.013 oz/ton
|
53,000 oz
|
|
Inferred
|
3,996,000 tons
|
Silver
|
0.183 oz/ton
|
732,000 oz
|
|
Commodity Production Costs:
| Commodity | Units | 2024 | 2023 | 2018 |
Credits (by-product)
|
Gold
|
USD
|
|
|
|
Total cash costs (sold)
|
Gold
|
USD
|
|
|
|
Total cash costs
|
Gold Equivalent
|
USD
|
......
|
......
|
|
Total cash costs (sold)
|
Gold Equivalent
|
USD
|
|
......
|
|
Total cash costs
|
Gold
|
USD
|
|
|
997 / oz†
|
Total cash costs (sold)
|
Gold
|
USD
|
|
|
998 / oz†
|
All-in sustaining costs (sold)
|
Gold Equivalent
|
USD
|
......
|
......
|
|
All-in sustaining costs (AISC)
|
Gold
|
USD
|
|
|
1,215 / oz†
|
All-in costs
|
Gold Equivalent
|
USD
|
|
......
|
|
^ Guidance / Forecast.
† Net of By-Product.
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Operating Costs:
| Units | 2018 | 2017 |
Total operating costs ($/t milled)
|
USD
| 17.1 | 14.4 |
Financials:
| Units | 2024 | 2018 | 2017 |
Capital expenditures (planned)
|
M USD
| ...... |
|
|
Revenue
|
M USD
| |
58.4
|
62.1
|
Operating Income
|
M USD
| |
4.1
|
-6.1
|
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Corporate Filings & Presentations:
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