Project Overview
The Fenix Gold project is located in Atacama Region, in the Copiapo Province - Chile, specifically in the Maricunga Mineral Belt, approximately 160 kilometres northeast of Copiapo.
Fenix is classified as low sulphidation epithermal style deposit with gold oxide mineralization being sub vertical and disseminated. Mineralization is controlled by NW-SE faulting and the gold occurs in black banded quartz veins, hosted in complex breccias bounded by fault structures. Gold is usually fine and occurs in both native form and as submicroscopic gold in iron oxides.
Fenix consists of an open pit mine that will be developed using conventional drill and blast techniques, with a truck and excavator configuration. The mineral processing rate is 20,000 tpd run of mine (ROM) ore to heap leach pad. High grade ROM ore will be mined and transported directly to the heap leach by trucks. Lime will be added to the trucks en route to the leach pad. Lower grade material is stockpiled for processing at the end of the Project’s life. Solution from the heap leach facility will be processed in an ADR plant to produce doré bars. The plant layout is designed to be upgradeable to 80,000 tpd.
Fenix will have access to water via a contract signed with Nueva Atacama, the major water supplier in Copiapó. The contract will supply up to 20 l/s of treated wastewater from its Piedra Colgada treatment facility located to the north of Copiapó.
Stream Details
| Date of Contract |
21-Oct-24 |
| Term |
Life of Mine |
| Stream |
22% until 130.6 koz delivered, then 6% until 185 koz, then 4% until 235 koz delivered, then 3.5% for LOM |
| Upfront Consideration |
$150M |
| Per Unit Production Payment |
20% of spot |
For more information on the Fenix Gold Project, please visit: www.rio2.com (opens in new tab)