Exploration & Development
Soracaya Asset
Exploration & Development
Ownership: 100%
Greenfield project in Potosi, Bolivia, 7 km south of the town of San Ramon and 293 km from the city of Potosi. Situated on a 8,325ha land package with mineral rights grandfathered under Bolivian law. Mineralization occurs in reactivated faults filled with replacement and brecciated sulphides
A technical study has not been completed for the project, though results of exploration work since 2016 has contributed to a mine plan. An internal study was completed by Glencore with an estimated capex of ~US$40MM for construction of a processing plant and tailings facility. Mine plan envisions a 7 year mine life with average annual payable production of ~4.5MM oz AgEq (based on consensus prices). Development is subject to permitting.
Soracaya’s geology and proximity to Pan American’s San Vicente mine (4.4 km and part of the same mineralized system) provides development optionality. Possible transportation of mined ore as permitting is completed. Tolling agreement with San Vicente may remove need to construct separate plant and tailings facility
Since 1999, a total of 29.6km of drill holes have been completed.
Stage Work
permitting in progress
Mineral Reserves and Resources
| Grade | Contained Metal | ||||||
| Tonnes (kt) |
Ag (g/t) |
Zn (%) |
Pb (%) |
Ag (koz) |
Zn (kt) |
Pb (kt) |
|
| Inferred Mineral Resources | 4,137 | 260 | 1.23 | 7.23 | 34,550 | 50.9 | 299.1 |
- The Mineral Resource estimate was prepared using a 10.0% zinc equivalent cut-off grade. Cut-off grades were derived from $25.20/oz silver, $1.38/lb zinc and $1.20/lb lead; and process recoveries of 92.1% for zinc, 77.2% for lead and 90.8% for silver.
- Please see NI 43-101 technical report titled “NI 43-101 Technical Report Soracaya Project, near Potosi, Bolivia” with an effective date of January 1, 2024 by Garth Kirkham, P.Geo., and Tad Crowie, P.Eng., available under the Company’s Sedar+ issuer profile.