Santo Domingo

Operator
Capstone Copper

Location
Chile

Stream
au

Primary Metal
cu

Project Overview

Capstone Copper’s fully permitted Santo Domingo copper-iron project is located 130-km north-northeast of the city of Copiapó, Chile. Elevation at the site ranges from 1,000 to 1,280 masl, with relatively gentle topographic relief.

The Santo Domingo deposits are located within the Cretaceous Iron Belt (“CIB”) of the Atacama fault zone. The CIB is a segment of the Atacama fault zone approximately 630 km by 40 km in dimension that hosts numerous iron-oxide–copper–gold (IOCG) type deposits. Mineralization within the deposit area consists of stratiform replacement mantos and breccias within tuffaceous sedimentary rocks (e.g. Santo Domingo Sur deposit) and structurally controlled mineralization along the east–west Santo Domingo fault zone (e.g. Estrellita deposit). 

Production will come from two open pit mines, Santo Domingo and Iris Norte. Mine production is based on process plant throughput of 65,000 t/d for the first 5 years and 60,000 t/d from Year 6, producing copper and magnetite concentrates. Capstone is also looking at options to recover cobalt.

Capstone Copper published the results of an updated feasibility study for the Santo Domingo project, outlining an optimized mine plan, updated capital and operating cost estimates, and a 19-year mine life supported by higher mineral reserve estimates. As a result, total gold production is expected to average 35,000 ounces per year for the first seven years of production, an increase from the 30,000 ounces per year estimate outlined in the 2020 feasibility study, and 22,000 ounces per year for the life of mine, up from 17,000 ounces per year. With construction completed at the Mantoverde project, a deposit situated 35-km northeast of the Santo Domingo project, Capstone plans to advance several value enhancement initiatives within the Mantoverde-Santo Domingo district that are not yet included in the 2024 feasibility study.

Stream Details
Date of Contract 24-Mar-21
Term Life of Mine
Stream 100% of gold until 285 koz have been delivered, thereafter dropping to 67% of gold
Upfront Consideration $290M*
Delivery Payment Per Ounce 18% of spot
Cost Quartile First

*Excludes the impact of delay ounces received, which are reflected as a reduction to the upfront consideration paid.

For more information on the Santo Domingo Project, please visit: www.capstonecopper.com (opens in new tab)