Fenix (Chile)
Project Overview
The Fenix Gold Project is one of the largest undeveloped pre-feasibility stage gold oxide projects in the
Americas. It is located in Atacama Region, in the Copiapo Province – Chile, specifically in the Maricunga
Mineral Belt, approximately 160 kilometres northeast of Copiapo by International Road CH-31. This is a
well-known mining district that contains over 70 million ounces of gold and hosts the La Coipa and Refugio
mines, as well as the Volcan, Caspiche, Lobo Marte and Cerro Casale deposits. Sectorial permit applications
are currently in process at The Fenix Gold Project, and first gold production is targeted for the fourth
quarter of 2022.
Blackwater (Canada)
Project Overview
The Blackwater Project is located in central British Columbia, approximately 160 km southwest of Prince
George and 446 km northeast of Vancouver. The Project is accessible by major highway and access/service
roads. Artemis has a 100% recorded interest in 329 mineral claims covering an area of 148,902 ha. The
Blackwater deposit is an example of an intermediate sulphidation epithermal-style gold–silver deposit.
As disclosed by Artemis, the primary focus for Artemis is on advancing construction of the Blackwater
Project, a project with 8 million ounces of gold in reserves, Environmental Assessment approval and the
potential to develop into one of the largest gold mines in Canada. The Blackwater Project is forecast to be
a first quartile gold mine3 with a 22 year mine life. Artemis has disclosed that it expects major
construction to commence in the second quarter of 2022, with production commencing in the first quarter of
2024.
Marathon (Canada)
Project Overview
The Marathon Project is located approximately 10 km north of the Town of Marathon, Ontario, adjacent to the
Trans-Canada Highway No. 17 on the northeast shore of Lake Superior. Electrical power and telephone
communication are present at the Property and in the Town of Marathon, which is linked to the Ontario power
grid. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square
kilometres. The Marathon Deposit is one of several mafic to ultramafic intrusive bodies in the Mid -
continent Rift System (“MRS”) that host significant copper, nickel or PGM sulphide mineralization.
Generation Mining's focus is the development of the Marathon Project and anticipates construction activities
to begin in 2022, with production commencing in 2024. On December 13, 2021, an independent report prepared
by Skarn Associates estimated the Marathon Project, once producing, to be ranked as having one of the lowest
operational carbon footprints for a mine in both Canada and the world per tonne of copper-equivalent
produced.
Curipamba (Ecuador)
Project Overview
The Curipamba Project is forecasted to be a high quality, low-cost mine with significant exploration
potential, Curipamba is located in central Ecuador approximately 150 km northeast of the major port city of
Guayaquil. The Project comprises seven mineral concessions representing approximately 21,500 hectares and
includes the advanced high-grade copper-gold El Domo deposit. El Domo is a flat-lying tabular shaped VMS
deposit, with mineralization beginning at 30 metres from surface and dimensions of approximately 800 x 400
metres. Three well-maintained gravel roads provide direct access to El Domo and most of the Curipamba
project area. Adventus completed a feasibility study NI 43-101 Technical Report as well as completed and
submitted a detailed environmental and social impact assessment (ESIA) report to the Government of Ecuador.
Cangrejos (Ecuador)
Project Overview
The Cangrejos Gold-Copper Project is located in El Oro Province, southwest Ecuador. The Cangrejos Project is the largest primary gold deposit in Ecuador, and is owned and operated by Lumina Gold Corp, a Canadian based precious and base metals exploration and development company. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects. A Preliminary Feasibility Study for Cangrejos was completed in April 2023. The Cangrejos project is forecast to be a high-margin mine in the lowest half of the cost curve with a 26-year mine life.
Goose (Canada)
Project Overview
The Goose Project is the first mine Sabina is advancing in its 100%-owned Back River Gold District, which is
an 80km long belt with a series of gold deposits in banded iron formation, located in southwestern Nunavut,
Canada, approximately 520 km northeast of Yellowknife. The Goose Project is an advanced and fully permitted
project with social license in hand. Pre-development activities have begun with the Project's Port Facility
and winter ice road being completed as well as major earth works at the Goose Project site. The Goose
Project is forecast to be a high margin mine in the lowest half of the gold cost curve with a 15-year mine
life.
Aljustrel (Portugal)
Project Overview
The Aljustrel copper-zinc-lead-silver mine is located in Portugal and is
100% owned by Almina - Minas do Alentejo, S.A., a private company who
purchased the mine from Lundin Mining Corporation in early 2009.
In 2014, in exchange for remuneration, Wheaton Precious Metals agreed to
waive its rights to silver contained in copper concentrate at the Aljustrel
mine but retains a stream on silver produced from the zinc and lead ores.
In 2018, the agreement with Almina was amended to increase production payments to 50% of the amounts received
under concentrate sales agreements and fix silver payable rates for a period of two years and limit rate
decreases thereafter. In Q2 2018, Aljustrel began processing zinc ores to produce zinc and lead concentrates
containing silver payable to Wheaton.
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Cotabambas (Peru)
Project Overview
The Cotabambas copper-gold-silver deposit is located in Peru, South
America, and has been systematically explored since 1995. Cotabambas is
located in the mountainous terrain of the high Andean Cordillera. Elevations
on the property vary between approximately 3,000 and 4,000 metres. The
region is characterized by deeply incised river valleys and canyons.
The Ccalla and Azulccacca zones of the Cotabambas deposit are porphyry
copper deposits. The two host porphyries cover an area about 2.5 kilometres
long and 1.5 kilometres wide. Mineralization occurs in hypogene, supergene
enrichment and oxide zones within the host porphyries and surrounding
diorites. A well-developed leached cap hosts the oxide mineralization.
Sulphide mineralization consists of chalcopyrite and pyrite, and gold grades
are strongly correlated to copper grades in the hypogene zone.
In June 2019, Panoro announced assay results from a recently completed drill program. The first phase of drilling
at the Chaupec Target was composed of five drill holes totalling 997 metres of drilling. The five drill holes
were completed at the northern end of the Chaupec target along approximately 1.2 km of strike. The drill
results, with high grades of copper, gold, silver including grades of lead and zinc are confirming the potential
presence of a new porphyry stock in the vicinity of the drilled area. In July 2020, Panoro announced plans for
additional exploration work at the Chaupec and Gauclle Targets with an objective to identify near-surface,
high-grade mineralization to provide additional early life feed to the proposed 80,000 tonne per day
concentrator included in the PEA report.
Kutcho (Canada)
Project Overview
The Kutcho property is located approximately 100 kilometres east of Dease Lake in the Liard mining division of
northern British Columbia, and consists of one mining lease and 46 mineral exploration claims covering an area
of approximately 17,060 hectares. The site is accessible via a 900 metre long gravel airstrip located 10
kilometres from the deposit and a 100 kilometre long seasonal road from Dease Lake suitable for tracked and
low-impact vehicles.
The Kutcho property lies within the King Salmon Allochthon, a narrow belt of Permo-triassic island arc volcanic
rocks and Jurassic sediments, situated between two northerly-dipping thrust faults: the Nahlin fault to the
north, and the King Salmon fault to the south. The belt of volcanic rocks is thickest in the area where it hosts
the VMS deposits, partly due to primary deposition, but also to stratigraphic repetition by folding and possibly
thrusting.
The Kutcho project is envisioned to be an underground mining operation, supplemented by a starter pit on the Main
deposit during the construction phase, to extract ore from the Main and Esso deposits. Two underground mining
methods are proposed: sublevel longhole stoping for areas where the dip is greater than 50°, and mechanized cut
and fill with paste backfill in shallow dipping areas of less than 50°. A 2,500 tpd process plant is assumed to
operate 365 days per year at 92% availability, with mill feed to be crushed, ground and subsequently subjected
to copper and zinc flotation.
Los Filos (Mexico)
Project Overview
The Los Filos gold-silver mine is located 180 km south of Mexico City in the municipality of Eduardo Neri,
Guerrero State, Mexico. The operation consists of two open pit mines (Los Filos and Bermejal) and one
underground mine (at Los Filos), with common heap leach, wet plant and ancillary facilities to produce a final
gold doré product on site.
Gold and silver are recovered from crushed and run-of-mine ore via a conventional, low-cost heap leach and ADR
(adsorption-desorption-recovery) process. Infrastructure on site includes primary and secondary crushing plants
with 18,000 tpd capacity, an overland conveyor system, agglomerator, two heap leach pads, two pregnant solution
collection ponds, one recirculation pond and two contingency water ponds and an ADR plant and refinery.
The orebodies at Los Filos consist of iron-gold skarn with minor amounts of copper and silver at the
intrusive-limestone contact. Orebodies also occur with endoskarn and are disseminated within the hydrothermally
altered intrusive rocks. The mineralogy of the contact orebodies is predominantly iron oxides with gold, in
associations with lesser quantities of copper, lead, zinc, and arsenic occurring in carbonates and oxides as
well as sulfides.
The Los Filos expansion project is underway with plans to enlarge the Los Filos open pit, add a new pit
(Guadalupe), develop a second underground mine (Bermejal) and construct a new carbon-in-leach plant to
complement the existing heap leach facilities. A 2019 feasibility study estimated total capex of $213 million
for the expansion.
Click here to view a Virtual Mine Tour of Los
Filos
Marmato (Colombia)
Project Overview
The Marmato Project, owned by Aris Gold, has excellent infrastructure as it is located by the Pan American
Highway with access to Medellin to the North and Manizales to the South, and has access to the national
electricity grid, which runs near the property. Marmato comprises the existing producing underground gold and
silver mine (Upper Mine), which has been in operation since 1991 and the Marmato Deeps Zone (“MDZ”) project,
both of which are covered by the Precious Metals Stream.
Mineralization within the Upper Mine consists of an epithermal low to intermediate sulfidation style and the MDZ
is characterized by mesothermal vein/veinlet mineralization. The MDZ remains open at depth and to the east where
recent drilling resulted in the discovery of the New Zone.
In August 2020, Aris filed a preliminary feasibility study ("PFS") technical report on the Marmato Project
pursuant to National Instrument 43- 101 -Standards of Disclosure for Mineral Projects. The study affirms the
economic viability of the underground expansion of the Marmato Project. The company has updated its plan for the
Upper Mine to incorporate an expansion of the existing 1,200 tpd processing plant to 1,500 tpd, to be completed
over the next two years. The Prefeasibility study is focused on the development of mining operations in the MDZ,
including construction of a new 4,000 tpd CIL processing plant and new dry stack tailings storage facilities.
Mechanized mining, using an underground longhole stoping method, in the MDZ is expected to further increase
production commencing by 2023.
Minto (Canada)
Project Overview
In June 2019, Capstone announced the sale of the Minto mine, which was on care and maintenance at the time, to
Pembridge Resources PLC ("Pembridge"). Pembridge subsequently restarted operations in the third quarter of 2019.
The Minto copper-gold-silver mine located in Yukon, Canada, is an open pit and underground mining operation that
commenced commercial production in 2007. Since 2007, the mine has undergone several successful expansions, more
than doubling mill throughput levels from 1,563 tonnes per day to its current design throughput of 3,600 tonnes
per day. The mill employs conventional crushing, grinding and flotation to produce copper and gravity
concentrates with significant gold and silver credits. Concentrates are exported via the Port of Skagway,
Alaska, to smelters in Asia for treatment and sale.
The Minto deposit is spread over a series of high grade areas interspersed with large deposits of low grade
material. The mine plan was designed for the highest grade deposits to be mined sequentially in a series of
small pits supplemented with additional ore from underground. Surface mining is complete with recent production
coming from underground.
Navidad (Argentina)
Project Overview
The Navidad project is one of the largest undeveloped silver deposits in the world. Navidad is located in Chubut,
Argentina and is made up of eight zones, seven of which should be amenable to mining in a series of open pits.
Wheaton Precious Metals holds a debenture convertible into an agreement to purchase 12.5% of the life of mine
silver production from the Loma de La Plata zone, which is one of the highest grade zones within the Navidad
deposit and represents approximately 25% of the project’s measured and indicated silver resources. Loma de La
Plata is silver-rich, but is sulphide-poor and contains very low levels of lead, zinc, and copper. Metallurgical
testing has indicated that this zone is receptive to conventional flotation processing with forecast silver
recoveries of approximately 72%.
There are material governmental and legal factors that affect the mineral resources at Navidad and the conversion
of the mineral resources to mineral reserves. Legislation in place in the Province of Chubut currently prohibits
open pit mining and the use of cyanide in the entire province. According to Pan American, no cyanide will be
used to process the material anticipated to be mined at Navidad, but given the depth and orientation of the
deposits, the economic mine plan involves open pit mining. Because of these governmental and legal factors, the
otherwise economically viable portions of the deposit cannot be estimated as mineral reserves at this time.
Santo Domingo (Chile)
Project Overview
Santo Domingo is a first quartile copper-iron-gold project2 and Chile’s only fully-permitted greenfield project.
The proposed open-pit mine is located 50 kilometres southwest of Codelco's El Salvador copper mine and 130
kilometres north-northeast of Copiapó, near the town of Diego de Almagro in Region III, Chile. Elevation at the
site ranges from 1,000 to 1,280 metres above sea level, with relatively gentle topographic relief.
Santo Domingo is owned by Capstone, a Canadian base metals mining company focused on copper with two producing
mines, the Cozamin copper-silver mine in Zacatecas State, Mexico and the Pinto Valley copper mine located in
Arizona, US. In addition, Capstone owns the Santo Domingo project, a large scale, fully-permitted,
copper-iron-gold project in Region III, Chile, as well as a portfolio of exploration properties. Capstone's
strategy is to focus on the optimization of operations and assets in politically stable, mining friendly
regions, centered in the Americas. Wheaton has precious metals streaming agreements with Capstone on both the
Cozamin mine and the Santo Domingo project.
Capstone expects major construction to commence in late 2021 with the first full year of production forecast for
2024.
Stratoni (Greece)
Project Overview
The Stratoni mine is an underground lead-zinc-silver mine located approximately 4 kilometres from the coastal
town of Stratoni in northern Greece. The mine is 100% owned by Hellas Gold S.A., which is 95% owned by Eldorado
Gold Corporation and 5% owned by Aktor S.A., Greece's largest construction company. The deposit is a
lead-zinc-silver carbonate replacement deposit that is hosted within marble of the Kerdilya Formation. The
deposit is localized along the south dipping Stratoni Fault, a major structural feature and important
mineralizing corridor in the centre of the Stratoni region. Stratoni has been in operation since September 2005
and produces high quality lead-silver and zinc concentrates. The mine has a capacity of 1,200 tonnes per day and
utilizes conventional drift-and-fill mining methods.
In October 2015, in order to incentivize additional exploration and potentially extend the limited remaining mine
life of Stratoni, Wheaton and Eldorado agreed to modify the Stratoni silver purchase agreement. The primary
modification is to increase the production price per ounce of silver delivered to Wheaton over the fixed price
by one of the following amounts: (i) $2.50 per ounce of silver delivered if 10,000 metres of drilling is
completed outside of the existing ore body and within Wheaton’s defined area of interest (“Expansion Drilling”);
(ii) $5.00 per ounce of silver delivered if 20,000 metres of Expansion Drilling is completed; and (iii) $7.00
per ounce of silver delivered if 30,000 metres of Expansion Drilling is completed. The third 10,000 metres of
expansion drilling was completed during Q3 2020 and the delivery payment has been increased by $7.00 per ounce
over the original fixed price
Click here to view a Virtual Mine Tour of
Stratoni
Toroparu (Republic of Guyana)
Project Overview
The Toroparu gold-copper project is located in the Republic of Guyana,
South America. Discovered in 2007, the Toroparu Project has Proven and
Probable mineral reserves of 4.1 million ounces of gold contained in 127
million tonnes of ore at a grade of 1.0 g/t Au. The Toroparu Project and
surrounding gold anomalies lie at the edge of a large bending zone in the
Puruni Shear Corridor, a regional feature that can be traced more than 100
kilometres into the prolific Venezuelan Gold District.
The project has its Environmental Authorization, Mineral Agreement and
Fiscal Stability Agreement in place. A pre-feasibility study completed for the
Toroparu Project in 2013 at US$1400/oz gold outlined the design of an open pit
mine producing 228,000 ounces of gold per year over an initial 16-year mine
life. Gran Colombia (formerly Gold X Mining) has signed a Memorandum of Understanding with the Guyana
Government giving Gran Colombia exclusive rights to develop the Kurupung Hydro
Project, approximately 50 kilometres south of the Toroparu Project. Optimizing
the project’s power supply by building the proposed run-of-river hydroelectric
facility could significantly reduce the estimated operating cash cost.
A Preliminary Economic Assessment was announced in June 2019, which examined a project re-scope which included
the Sona Hill satellite deposit and a modification of the processing strategy to start with gold-only production
from a CIL circuit for the initial 10 years, followed by the addition of flotation processing capacity. As of
May 2020, the licensing process for the Toroparu project has entered the final stage of regulatory review of all
documentation under the updated Mining License Application submitted in October 2019.