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Chile
Nueva Esperanza Project

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 Location:
150 km E from Chañaral, Chile

  Project Contacts:
Level 32 200 George Street
Sydney
New South Wales, Australia
2000
Phone  ...  Subscription required
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life11.6 years (as of Jan 1, 2016)
July, 2020 - Environmental Impact Assessment granted.


Owners

Source: p. 20, 73
CompanyInterestOwnership
Kingsgate Consolidated Ltd. 100 % Indirect
Laguna Resources Chile Limitada, a wholly owned subsidiary of Kingsgate Consolidated Limited, owns the Nueva Esperanza project.

Kingsgate has focused on the possible sale of the Nueva Esperanza Gold/Silver project.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Epithermal
  • Hydrothermal
  • Vein / narrow vein
  • Manto


Summary:

The geology of the project is characterised by hydrothermally altered Tertiary acid (dacite) volcanics associated with the Miocene-aged Cerro Bravos stratavolcano, overlying Paleozoic metasedimets. It contains a number of mineralised sectors, including Arqueros, Teterita, Huantajaya and Chimberos within the Esperanza alteration system. Arqueros, Huantajaya and Chimberos have been mined previously.

Arqueros comprises oxidised silver and gold mineralisation dominated by silver halides and electrum respectively, hosted in high sulphidation epithermal alteration of Tertiary dacitic lapilli tuffs and breccias. The mineralisation is dominated by silver, and defines two domains: a horizontal stratabound mineralisation (‘mantos’), and intersecting vertical silicified mineralised ledges (veins).

The Teterita deposit is a similar albeit a much smaller deposit than Arqueros, comprising oxidised mantos-style mineralisation comprising silver halides also hosted in high sulphidation epithermal alteration of stratified Tertiary dacitic lapilli tuffs and breccias.

The Chimberos deposit is located in an up-thrown block of folded Paleozoic conglomerates, sandstone and shale. Mineralisation is dominated by silver halides in the eastern with some gold as electrum, in the western part show similar characteristic as Arqueros by the gold-rich mineralisation with less silver contain, both styles of mineralisation is hosted by silicified hydrothermal breccia bodies of ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Open pit mining will be carried out by a suitably skilled open pit mining contractor with specialist skills in operating at the project altitude of 4,000 to 4,200m above sea level. The contractors’ duties will include grade control drilling, blast-hole drilling, blasting, excavation and ore & waste haulage.

The Nueva Esperanza Project consists of three separate open pits; Arqueros, Chimberos and Teterita. All three are located within a two kilometres of each other. Mining will be sequenced to maximise cashflow by extracting the highest value ore blocks as early as possible.

Each pit has been staged with a number of push-backs to assist in maximising cashflow. Lower grade material will be stockpiled and will be treated towards the end of the project. The selection of ore blocks for mining is based on the highest revenue generated by the gold and silver metal. No gold equivalents are used in the selection of mining blocks.

Mining rates are reasonably consistent at 26Mtpa, and utilise a fleet of two excavators, up to two front end loaders, and a fleet of 100 tonne trucks. Approximately 1Mt of ore and waste will be mined prior to the mill being commissioned.

Mining will be completed in six years in order to bring forward high grade material for early processing. The Teterita pit is mined early in the plan due to its higher grade and lower strip ratio. The Arqueros pit also starts early in the mine plan to provide a balance of mill feed ........


Crushing and Grinding
Source: Subscription required


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold M oz 0.3
Silver M oz  ......  Subscription required
Gold Equivalent koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio 6.6 *
Tonnes processed, LOM 23 Mt *
Annual processing rate 2 Mt *
Annual mining rate 26 Mt *
* According to 2016 study.

Reserves at June 30, 2022:
Mineral Resources and Reserves as at 30th June 2022 at Nueva Esperanza are unchanged from June 30, 2016.
Mineral Resource cut off is 0.5g/t gold equivalent.

CategoryTonnage CommodityGradeContained Metal
Proven 17 Mt Gold 0.5 g/t 0.3 M oz
Proven 17 Mt Silver 87 g/t 47.8 M oz
Measured 1.6 Mt Gold 0.01 g/t 0.0005 M oz
Measured 1.6 Mt Silver 93 g/t 4.8 M oz
Indicated 27.2 Mt Gold 0.46 g/t 0.4 M oz
Indicated 27.2 Mt Silver 73 g/t 63.8 M oz
Inferred 10.6 Mt Gold 0.3 g/t 0.09 M oz
Inferred 10.6 Mt Silver 43.1 g/t 14.8 M oz
Total Resource 39.4 Mt Gold 0.39 g/t 0.49 M oz
Total Resource 39.4 Mt Silver 66 g/t 83.4 M oz

Commodity Production Costs:

CommodityUnitsAverage
Site cash costs (produced) Gold Equivalent USD 642 / oz *  
Total cash costs Silver Equivalent USD 14.2 / oz *  
Total cash costs Gold Equivalent USD 706 / oz *  
All-in sustaining costs (AISC) Silver Equivalent USD 15.2 / oz *  
All-in sustaining costs (AISC) Gold Equivalent USD 913 / oz *  
Assumed price Silver USD 19 / oz *  
Assumed price Gold USD 1,200 / oz *  
* According to 2016 study / presentation.

Operating Costs:

Units2016
OP mining costs ($/t mined) USD 1.8 *
OP mining costs ($/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 2016 study.
Subscription required - Subscription is required.

2016 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
Refining and transportation $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
Income 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 IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Water Supply

Water is supplied from a bore located 10km to the north east of the operation. There are two bores that have a combined flow rate of 3,900m3/day. Plant water consumption is estimated at 1,300m3 /day. These bores are owned by Anglo American and a contract to supply water to Kingsgate on a $/m3 basis is in place.


Proposed Heavy Mobile Equipment as of April 13, 2016:
HME TypeSizeQuantityLeased or
Contractor
Excavator ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 10, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Corporate Presentation 2022
................................... Subscription required 2021
Corporate Presentation 2017
Pre-Feasibility Study Report 2016
Year-end Mineral Reserves 2016
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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