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Nicaragua
Santa Rita Project

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 Location:
108 km W from Puerto Cabezas, Nicaragua

  Project Contacts:
Residencial Las Colinas, Kinder Montessori 1 C. al E, 1 C. al N, 80 mts al E, #273
Managua
Nicaragua
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life10 years (as of Jan 1, 2017)


Owners

Source: p. 8
CompanyInterestOwnership
Calibre Mining Corp. 7.5 % Indirect
Rosita Mining Corporation 17.5 % Indirect
Century Mining S.A. 75 % Indirect
In October 2018, Calibre and Rosita Mining Corporation entered into a joint venture agreement with Century Mining S.A., for further development and advancement of the project. In consideration therewith, a new Nicaraguan joint venture entity, “Santa Rita Mining” was formed, in which Century will acquire a 75% interest and Rosita and Calibre will acquire a 17.5% and 7.5% equity interests, respectively. Calibre and Rosita transferred all technical know-how relating to the Rosita District Project to Santa Rita Mining and Century committed US$8.5 million to fund the construction, commissioning and operation of a processing facility to treat the Santa Rita stockpile resource on the project in order to earn its 75% joint venture interest.

Contractors

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Deposit Type

  • Skarn
  • Porphyry
  • Tailings


Summary:

Deposit Types
The main types of deposit on the Rosita property are Cu-Au-Ag skarn at Santa Rita, R-13 and Tigre Negro, Fe-Cu-Au skarn at Magnetite Hill and Cu-Au-Ag porphyry at Bambana(Tipispan and T3 area). The skarn deposits are characterized by calc-silicate metasomatism, retrograde alteration and silicification. The porphyry copper mineralization at Bambana is characterized by propylitic, silicic and potassic alteration.

Skarn deposits form through the physical and chemical reaction between igneous rocks intruded into calcareous sedimentary rocks.They occur adjacent to (exo-skarn) or within (endo-skarn) an intrusive body. Emplacement of the intrusive is controlled largely by transfer structures in the back-arcbasin as well as splays along arc parallel structures in the magmatic arc environment. Alteration zoneis controlled by the temperature gradient and is overprinted by metasomatic and retrograde alteration. Mineralization is commonly vertically zoned from chalcopyrite-magnetite to chalcopyrite-bornite-gold-pyrite to pyrite-chalcopyrite. The copper-gold-silver deposit at the Santa Rita pit is examples of skarn mineralization.

The targets of this resource study are tailings and six historical low grade stockpiles around the Santa Rita pit.Each stockpile (North, Northeast, East, South and Southwest) was named based on the direction to the Santa Rita Pit. RST believes the stockpiles were originally derived from Santa Rita pit.

Based o ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Rosita is proposing to reclaim the Stockpile and tailings at Santa Rita with the use of local construction contractors. Conventional earth moving equipment such as hydraulic excavators or front end loaders will be utilized. The nature of the “loose” stockpile and tailings mineralized material does not require any drilling and blasting activities. The reclaimed material can be transported to the mobile crushing plant via articulated or rigid frame haul trucks.

The location of the stockpiles and tailings are in close proximity to the mobile crushing plant, and proposed process facility via existing roads in and around the area. The project does not require any selectivity or detailed grade control however, selective reclamation of specific stockpiles will take place. It is anticipated that the higher grade North Stockpile will be reclaimed initially and this has been addressed in the early year cash flow presented.

The bulk of the resources from each stockpile will be focussed on the indicated resources. However, where inferred resources are at the edges of stockpile they will be excavated first and thus inferred and indicated resources will be mixed in the feed to the treatment plant.

From the sequence of mining planned, the grades used for the cash flow statement have been defined as:

- First 5 years: 0.65 g/t Au; 10.0 g/t Ag (for the mill) 8.0 g/t Ag (for the heap leach); 0.80% Cu;

- Second 5 years;0.47 g/t Au; 7.79 g ........


Crushing and Grinding
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Processing

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Summary:

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Operational Metrics:

Metrics
Plant annual capacity 720 kt *
Daily processing capacity 2,300 t *
Annual ore mining rate 730 kt *
* According to 2017 study.

Reserves at March 6, 2017:
The Au cut-off grade for the resource estimate 0.3 g/t.

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated Stockpiles 6,460 kt Gold 0.47 g/t 96.7 koz
Indicated Stockpiles 6,460 kt Silver 7.32 g/t 1,521 koz
Indicated Stockpiles 6,460 kt Copper 0.5 % 32.2 kt
Inferred Stockpiles 3,437 kt Gold 0.46 g/t 50.3 koz
Inferred Tailings 1,956 kt Gold 0.56 g/t 35.2 koz
Inferred Stockpiles 3,437 kt Silver 8.66 g/t 957.5 koz
Inferred Tailings 1,956 kt Silver 9.65 g/t 607 koz
Inferred Stockpiles 3,437 kt Copper 0.61 % 21 kt
Inferred Tailings 1,956 kt Copper 0.21 % 4 kt

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Copper USD 2.5 / lb *  
Assumed price Silver USD 18 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2017 study / presentation.

Operating Costs:

Units2017
OP mining costs ($/t mined) USD 2 *
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2017 study.
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2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net 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 @ 7% $M USD  ......  Subscription required
After-tax NPV @ 7% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 6, 2017
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
Preliminary Economic Assessment 2017
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