Mining Intelligence and News
Chile

Nueva Esperanza Project

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Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotNueva Esperanza is a feasibility-stage development project with a resource base (inclusive of ore reserves) of approximately 0.49 million ounces gold and 83.4 million ounces of silver

In July 2020, Laguna Resources Chile has been granted an Environmental Impact Assessment (“RCA-64/20”) approval for the Nueva Esperanza Gold/Silver Project.

No exploration work was carried out during FY 2023 and management costs were kept to a minimum.

Active sale process underway. Kingsgate is currently working with several parties who are completing their due diligence in acquiring the asset.

Owners

SourceSource
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. Kingsgate is continuing to work with a number of parties interested in acquiring the Nueva Esperanza Project.

Contractors

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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 high sulphidation epithermal affinities like that of Arqueros and Teterita.

The mineralized manto at Arqueros trends N15°E and dips 15°NW and is approximately 1500m long, 270m wide and 40m thick on average. Teterita extends around 700m north-south by approximately 550m east-west and 140m below surface. The mineralized manto is sub-horizontal with azimuth of N15°E and dips 3 °NW with approximate dimensions of 650m in length, 180m wide and 60m thick on average.

Chimberos extends around 350m north-south by approximately 1Km east-west and 300m below original surface. In the deposit exist two main mineralized bodies associated mostly with hydrothermal breccias, the first body mineralized by Silver has a trending E-W with cylindrical shape and was previously mined by open pit, a second body is associated with Gold-Silver mineralisation presents a E-W trending dipping at 70°NE.

Chimberos Mineralized Dumps extend over approximately 550m long by 300m wide and 50m thickness.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Gold M oz 0.3
Silver M oz 47
Gold Equivalent koz 911,100
All production numbers are expressed as metal in doré.

Operational metrics

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

Production Costs

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

Operating Costs

Currency2016
OP mining costs ($/t mined) USD 1.8 *  
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2016 study.

Project Costs

MetricsUnitsLOM Total
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Refining and transportation $M USD  ......  Subscribe
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Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 19, 2024

Aerial view:

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