Nicaragua

Santa Rita Project

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Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThere is no info about the project. It was last mentioned in Calibre Mining Corp. AIF 2020.

The mention of it was removed from the website in 2023.
[Olga 11/10/2023]

Owners

SourceSource
CompanyInterestOwnership
Calibre Mining Corp. 7.5 % Indirect
MarkX Ventures Inc. 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.

On June 17, 2021, King Global Ventures Inc. (formerly Rosita Mining Corporation) entered into an agreement with an arms-length party to sell its wholly owned subsidiary, Alder Resources Ltd., which holds 100% interest in ALR Nicaragua S.A., the Company’s investment in Santa Rita, for proceeds of $30,000 and 400,000 common shares of MarkX Ventures Inc., a private company incorporated in British Columbia, with a fair value of $20,000.

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 on P.A. Bevan reporting, during the production from Santa Rita mine, material containing less than 2% copper was stockpiled. All the stockpiles are mixtures of oxide and sulphide materialsand from clay to bouldersize. The ore minerals are mainly malachite, chalcocite and chalcopyrite with some azurite, chrysocolla, chalcanthite, tenorite, cuprite, native copper and native gold.

Mineralization

Santa Rita pit
The Santa Rita pit is a skarn type Cu-Au-Ag deposit(Bevan, 1973). The marble, garnet and epidote skarn rocks have been formed by the metamorphism of interbedded Cretaceous sediments of calcareous and siliceous nature and andesitic volcanics. The metasomatism was brought about by Tertiary intrusions, mainlydiorite and monzonite. The regional strike is approximately northeast.

The main mineralization lies on the southern flank of a small dioritic intrusion. In the mine the favourable garnet skarn horizon is about 152m thick, strikes easterly and dips 50 degreesto the southeast. It is underlain by altered diorite and overlain by chloritized andesites and calcareous tuffs. Intenselime, potash and siliceous metasomatism have altered the calcareous sediments to marble or to garnet-quartz-calcite-epidote-orthoclase-pyriteskarn. The interbedded volcanic and andesitic and dioritic dykes have been altered in many cases to epidote skarn and in others to siliceous skarn.

Garnet skarn is the host rock for the mineralization. Red, brown, yellow and green varieties of garnet are present. The mineralization zone occurs as lenses, pods and stringers of massive sulphides in well-fractured or brecciated skarn. There is commonly more chalcopyrite than pyrite. Massive pyrrhotite occurs in one zone onthe north side of the pit near the footwall. Gold valuesare localized by a north-northwest-trending fault.

In the central part of the pit there is a quartz-garnet skarn breccia zone with finely disseminated pyrite and chalcopyrite. The garnet is chiefly red or red-brown.The zone itself might be a breccia pipe of the Cananea type. In the east end of the mine the garnet skarn is mainly composed of the yellow variety, particularly adjacent to bands or masses of marble. The mineralization may be disseminated or massive chalcopyrite, often associated with chlorite, magnetite, pyrrhotite and pyrite. It may also occur as lenses or veins of quartz-chalcopyrite-pyrite.

The mineralization zones appear to have been localized in part by two major fault systems: (a) north-northwest-trending shears and quartz stringers and replacement zones with steep dips; and (b) northeast-trending shear zoneswhich offset the north-northwest faults. Stubby east-west breccia zones feather out from the northeast trending shears.

Capping the three primary sulphide zones were secondary enriched zones of chalcocite, dipping southwest, and oxidized zones composed principally of malachite. Other copper minerals noted include native copper, cuprite, azurite, chrysocolla, chalcanthite,coveIlite, tenorite and "grey coppers".

R-13 Pit
The R-13 Zone is a northeastern extension of the Santa Rita mineralized zone. The deposit contains copper, silver and gold concentrations in a northwest trending shear zone hosted exclusively within an intensely fractured and propylitized quartz diorite. The main hypogene minerals found in the drill cuttings, in order of decreasing abundance,are reportedas: quartz, pyrite, chalcopyrite and bornite. Pyrite in the R-13 deposit occurs as discrete grains in quartz-pyrite veinlets and in fracture zones containing massive chalcopyrite and quartz. Chalcopyrite is not as widespread as pyrite and is concentrated along the main northwest shear zone. Argentite is identified as the main silver mineral in the R-13 deposit. Gold in the fracture zones is closely associated with copper and silver. Drilling has shown that this relationship is confined to intervals of silicic alteration within a propylitically altered quartz diorite. This spatial association suggests that the gold was deposited during a late stage or completely separate hydrothermal event in the Rosita Fault.

Other Mineralization on Some Exploration Targets
A zone of a superficial supergene enrichment presentabove a porphyry-type Cu-Au-Ag mineralized monzonite intrusion at Tipispan area, which was encountered in trenches and drill holes.

T3 is a secondary copper mineralization zone on a south facing slope in the western part of the Rosita D Property. Historically this area had been subject to selective mining. Trenching, soil sampling, IP geophysical survey and drilling indicated the presence of an exotic copper deposit on the side of a hill.

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

Operational metrics

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

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

Currency2017
OP mining costs ($/t mined) USD 2 *  
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2017 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Total OpEx $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 7% $M USD  ......  Subscribe
After-tax NPV @ 7% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 6, 2017

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