Overview
| Stage | Preliminary Economic Assessment |
| Mine Type | Open Pit |
| Commodities |
- Gold
- Copper
- Silver
- Molybdenum
|
| Mining Method |
|
| Mine Life | 10 years (as of Jan 1, 2017) |
Tepal is a large project that contains a significant potential open-pitable mineral resource. Tepal’s current NI 43-101 Mineral Resource Estimate comprises over 4 million gold- equivalent ounces in the Measured & Indicated categories, with potential to add ounces and improve grade in structurally-controlled epithermal zones. |
Source:
p. 24
As a result of the acquisition of Valoro Resources Inc. (“Valoro”) in fiscal 2019, the Company acquired a 100% right, title and interest in mining claims located in the state of Michoacán, Mexico (the “Tepal Project”).
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Summary:
Mineralization on the Property is characteristic of porphyry copper-gold mineralization. Porphyry-type deposits in Mexico occur in a northwest trending belt 2,800 km long on the west side of the country, following the Pacific continental margin (Sillitoe, 1976). The belt is located in the Sonoran Basin and Range, Sierra Madre Occidental and Sierra Madre del Sur covering the states of Sonora, Sinaloa, Chihuahua, Durango and Michoacán.
Mineralization on the Property consists of structurally controlled zones of stockwork and disseminated sulphide mineralization that are hosted entirely within a multi-phase tonalite intrusive complex. These sulphide-bearing zones contain significant concentrations of copper and gold with lesser silver and molybdenum values. The current resources are hosted in three distinct zones: the relatively high-grade North and South Zones and the lower grade Tizate Zone.
Morphologically, two of the zones, the North and Tizate Zones, are crudely tabular with shallow to moderate dips. Both have rough dimensions of approximately 1,100 by 600 m and thicknesses of up to 200 m. The South Zone has a smaller footprint, 600 by 500 m, but a greater vertical extent of up to 400 m, although this is possibly the result of faulting.
In the North and South Zones some generations of veins within the structural deposits display a prominent 325° to 350° orientation parallel to the north-northwest fault trend. Dips are generally vertical to s ........
Summary:
Open Pit mine design was conducted using a combination of software packages, including Hexagon MineSight™, and GEOVIA’s GEMS™ and Whittle™.
The resultant pit shape for Tepal North will contain 38.9 Mt of mineralized material (including both sulphide and oxide feed) with an average gold grade of 0.42 g/t and average copper grade of 0.25% (for all deposits the copper recovered is from sulphide feed only). The total waste tonnage in the pit will be 25.1 Mt for a strip ratio of 0.6:1. The Tepal South shell will contain 16.2 Mt of mineralized material with an average gold grade of 0.47 g/t and 0.21% copper and a total waste tonnage of 10.9 Mt for a strip ratio of 0.7:1. Tizate contains a total of 35.4 Mt of sulphide and oxide mineralized material with a gold grade of 0.21 g/t and 0.17% copper. The strip ratio is 0.5 with 16.5 Mt of waste.
The pit shapes for Tepal were further analyzed and optimizations were conducted in order to better define the possible stage shapes within the ultimate pit limits. It was decided to divide the pit sequence into three stages at Tepal North (TPN1, TPN2 and TPN3), one stage at Tepal South (TS1) and two stages at Tizate (TIZ1 and TIZ2) for the mine plan development to maximize the grade in the early years, reduce the pre- stripping requirements, and to maintain the process facility at full production capacity.
The production schedule for the Tepal deposits incorporates the various pits and pit stages mentioned above. ........
Source:
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Flow Sheet:
Summary:
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Projected Production:
| Commodity | Product | Units | Avg. Annual | LOM |
|
Gold
|
Metal in conc./ doré
|
koz
| 79 | 766 |
|
Copper
|
Metal in concentrate
|
M lbs
| ...... | ...... |
|
Copper
|
Concentrate
|
kt
| | ...... |
|
Silver
|
Metal in conc./ doré
|
koz
| ...... | ...... |
Operational Metrics:
| Metrics | |
|
Daily mining rate
| 37.5 kt * |
|
Daily processing rate
| 26.4 kt * |
|
Daily processing capacity
| 27,500 t * |
|
Annual processing rate
| 9.6 Mt * |
|
Stripping / waste ratio
| 0.6 * |
|
Waste tonnes, LOM
| 52,464 kt * |
|
Ore tonnes mined, LOM
| 90,479 kt * |
|
Total tonnes mined, LOM
| 142,943 kt * |
|
Tonnes processed, LOM
| 90,479 kt * |
* According to 2017 study.
Reserves at March 29, 2012:
The Mineral Resources of the three deposits at a US$5/t equivalent value net smelter return (NSR) cut-off.
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Measured
|
34,000 kt
|
Gold
|
0.48 g/t
|
528 koz
|
|
Measured
|
34,000 kt
|
Copper
|
0.25 %
|
185 M lbs
|
|
Measured
|
34,000 kt
|
Silver
|
0.95 g/t
|
|
|
Measured
|
34,000 kt
|
Molybdenum
|
0.002 %
|
|
|
Indicated
|
153,000 kt
|
Gold
|
0.26 g/t
|
1.276 koz
|
|
Indicated
|
153,000 kt
|
Copper
|
0.19 %
|
628 M lbs
|
|
Indicated
|
153,000 kt
|
Silver
|
1.67 g/t
|
|
|
Indicated
|
153,000 kt
|
Molybdenum
|
0.004 %
|
|
|
Measured & Indicated
|
187,000 kt
|
Gold
|
0.3 g/t
|
1.804 koz
|
|
Measured & Indicated
|
187,000 kt
|
Copper
|
0.2 %
|
813 M lbs
|
|
Measured & Indicated
|
187,000 kt
|
Silver
|
1.54 g/t
|
|
|
Measured & Indicated
|
187,000 kt
|
Molybdenum
|
0.004 %
|
|
|
Inferred
|
36,000 kt
|
Gold
|
0.16 g/t
|
181.7 koz
|
|
Inferred
|
36,000 kt
|
Copper
|
0.15 %
|
120.4 M lbs
|
|
Inferred
|
36,000 kt
|
Silver
|
1.68 g/t
|
|
|
Inferred
|
36,000 kt
|
Molybdenum
|
0.006 %
|
|
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