Overview
Stage | Preliminary Economic Assessment |
Mine Type | Open Pit & Underground |
Commodities |
|
Mining Method |
- Longitudinal retreat
- Transverse stoping
- Truck & Shovel / Loader
- Longhole stoping
- Sub-level stoping
- Cemented paste backfill
- Cemented rockfill
|
Production Start | ... |
Mine Life | 11.2 years (as of Jan 1, 2023) |
The Los Ricos South project is the part of the Los Ricos property.
The most recent PEA on the Los Ricos South project was announced on September 12, 2023. The projected cash flows and economics of the project are very robust, especially when combined with Los Ricos North PEA that was completed in March of this year.
Work on the Pre-Feasibility Study is ongoing and GoGold Resources is currently completing the advanced geotechnical work with consultants. GoGold Resources will also continue to focus our efforts on the mine plan as it believe further optimization opportunities may be possible. With strong balance sheet GoGold Resources will continue to advance the Los Ricos South project rapidly. |
Source:
p. 16
The Los Ricos South Property is held by GoGold’s wholly-owned Mexican subsidiary Minera CM Jalisco, S.A. de C.V., previously known as Minera Durango Dorado S.A. de C.V.
Contractors
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Deposit Type
- Volcanic hosted
- Epithermal
Summary:
The Cinco Minas Vein system at Los Ricos is a classic epithermal precious metal deposit, which exhibits at least three phases of quartz and sulphide mineralization and deformation. The vein, which is up to 30 m in width and has been traced over 3.5 km on the concessions, occurs along a northwesterly trending structure that roughly marks the boundary between two calc-alkaline magmatic arcs: 1) the older Sierra Madre Occidental volcanic province to the north; and 2) the younger Trans-Mexican volcanic arc to the south. The Sierra Madre Occidental province is the largest accumulation of pyroclastic flows and ignimbrites in the world (Nebocat, 2002). The age of these volcanics ranges from Cretaceous (100 Ma) to Neogene (18 Ma) (previously Tertiary).
Los Ricos (Cinco Minas) is a classic Neogene (previously Tertiary) age, volcanic-hosted and low-sulphidation epithermal precious metal deposit.
Mineralisation
The mineralized vein at Los Ricos South, which is as much as approximately 30 m wide, has had at least three quartz vein formation and metal precipitation events (Nebocat, 2004). The vein strikes across the Property for 3.5 km, following a northwest-southeast trending fault, and dips approximately 65° to 70° to the west.
The chief gangue mineral is quartz, whereas crystalline quartz is plentiful and colourless, cream colored, milky or occasionally even amethyst, the bulk of the quartz is a dense fine-grained grey, yellowish of greenish por ........
Mining Methods
- Longitudinal retreat
- Transverse stoping
- Truck & Shovel / Loader
- Longhole stoping
- Sub-level stoping
- Cemented paste backfill
- Cemented rockfill
Summary:
The Los Ricos South Project will consist of both underground and open pit mining operations. Underground mining will commence at the start of production. Open pit mining will be initiated in Year 3 and there will be an underground / open pit overlap period of five years. The duration of all mining activity will be 12 years after the start of commercial production. During the first three years of production when there is only underground mining, the processing rate is 1,750 tpd. This ramps up to 4,000 tpd when open pit mining is able to deliver feed to the process plant. The underground mine will continue to deliver 1,750 tpd with the open pit providing the remainder until it is depleted in Year 7.
The dominant underground mining method is longitudinal retreat sublevel longhole stoping with cemented paste backfill. In the Abra Vein the mining method is by transverse access instead of longitudinal access around historical workings. All underground mining will be completed by contractor. Overall mining dilution is estimated at 29% and mining recovery is estimated at 94%. Sublevels are spaced at a nominal interval of 20 m. Longitudinal stopes are a maximum of 25 m along strike, with width limited by vein thickness. Stope widths at Eagle average 11.1 m and at Abra average 6.4 m. Haulage trucks will typically be 30 t, with 7-t and 10-t load-haul-dump units. Steady-state production of 1,780 tpd (nominally 640 ktpa) will be reached midway through YR1 after a short ramp-up ........
Source:
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Flow Sheet:
Summary:
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Pipelines and Water Supply
Source:
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Reserves at September 12, 2023:
The pit-constrained AgEq cut-off grade of 38 g/t AgEq was derived from US$1,800/oz Au price, US$23.00/oz Ag price, 85% Ag and 95% Au process recovery, US$25/tonne process and G&A cost. The constraining pit optimization parameters were $2.10/t mineralized material and waste mining cost, and 45-degree pit slopes.
The out-of-pit AgEq cut-off grade of 130 g/t AgEq was derived from US$1,800/oz Au price, US$23.00/oz Ag price, 85% Ag and 95% Au process recovery, US$33/tonne process and G&A cost, and a $50/tonne mining cost.
Category | Tonnage | Commodity | Grade | Contained Metal |
Measured
|
5.7 Mt
|
Gold
|
1.42 g/t
|
261.4 koz
|
Measured
|
5.7 Mt
|
Silver
|
172 g/t
|
31,631 koz
|
Measured
|
5.7 Mt
|
Copper
|
0.07 %
|
9.3 M lbs
|
Measured
|
5.7 Mt
|
Silver Equivalent
|
291 g/t
|
53,703 koz
|
Measured
|
5.7 Mt
|
Gold Equivalent
|
3.72 g/t
|
686 koz
|
Indicated
|
5.4 Mt
|
Gold
|
1.45 g/t
|
249.7 koz
|
Indicated
|
5.4 Mt
|
Silver
|
129 g/t
|
22,210 koz
|
Indicated
|
5.4 Mt
|
Copper
|
0.15 %
|
18 M lbs
|
Indicated
|
5.4 Mt
|
Silver Equivalent
|
260 g/t
|
44,878 koz
|
Indicated
|
5.4 Mt
|
Gold Equivalent
|
3.33 g/t
|
573.2 koz
|
Measured & Indicated
|
11.1 Mt
|
Gold
|
1.43 g/t
|
511 koz
|
Measured & Indicated
|
11.1 Mt
|
Silver
|
151 g/t
|
53,841 koz
|
Measured & Indicated
|
11.1 Mt
|
Copper
|
0.11 %
|
27.3 M lbs
|
Measured & Indicated
|
11.1 Mt
|
Silver Equivalent
|
276 g/t
|
98,582 koz
|
Measured & Indicated
|
11.1 Mt
|
Gold Equivalent
|
3.53 g/t
|
1,259 koz
|
Inferred
|
2.3 Mt
|
Gold
|
1.02 g/t
|
75 koz
|
Inferred
|
2.3 Mt
|
Silver
|
85 g/t
|
6,230 koz
|
Inferred
|
2.3 Mt
|
Copper
|
0.17 %
|
8.6 M lbs
|
Inferred
|
2.3 Mt
|
Silver Equivalent
|
185 g/t
|
13,601 koz
|
Inferred
|
2.3 Mt
|
Gold Equivalent
|
2.36 g/t
|
173.7 koz
|
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