Project Overview
The Cozamin copper-silver mine is located 3.6 km north-northwest of Zacatecas City in the mineral-rich state of Zacatecas, Mexico. Commissioned in 2006, Cozamin has undergone two successful expansions since that time. The mill produces copper, zinc, and lead concentrates that are shipped to the port of Manzanillo for export to world markets.
All mineralization at Cozamin occurs in veins, and fracture-controlled systems of veinlets. Currently mined mineralization at Cozamin is best described as intermediate sulphidation. The copper-rich intermediate sulphidation mineralization is an early phase that is enveloped, overprinted or brecciated by zinc-rich intermediate sulphidation mineralization.
Cozamin’s dominant mineralized vein systems include the Mala Noche Vein (“MNV”) and the Mala Noche Foot Wall Zone (“MNFWZ”). On surface, the MNV was mapped for 5.5 km across the property. It strikes approximately EW and dips on average at 60° to the N. There are several shafts that provide access to historical workings, the largest historical area being the San Roberto mine and the second largest area being the San Rafael mine. Current exploration efforts are focused on the MNFWZ West Target and other brownfield targets in the property. MNFWZ is open locally to the SE and NW and down-dip (at depth), while MNV is open locally to the E and W and down-dip (at depth).
As part of the Silverstone Resources acquisition in 2009, Wheaton acquired a precious metals stream on Cozamin, which subsequently expired in 2017. In 2020, Wheaton entered into a definitive Precious Metals Purchase Agreement with Capstone Mining with respect to the Cozamin mine effective December 1, 2020, bringing the Cozamin mine back into Wheaton’s portfolio.
Stream Details
| Date of Contract |
11-Dec-20 |
| Term |
Life of Mine |
| Stream |
50% of silver until 10 Moz, thereafter dropping to 33% |
| Upfront Consideration |
$150M |
| Production Payment |
10% of spot |
| Cost Quartile |
Second |
For more information on the Cozamin mine, please visit: www.capstonecopper.com (opens in new tab)