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.