Candelaria owns two superior exploration tasks in Mexico. It holds 100% of the Pinos gold-silver mission in Zacatecas state and 100% of the Caballo Blanco mission in Veracruz state.
Improvement of the Pinos epithermal gold vein system is absolutely permitted, the corporate stated. A 2018 preliminary financial evaluation envisioned a mine with an preliminary lifetime of seven years, throughout which period 90,000 oz. of gold and 1 million oz. of silver can be recovered. Mining is to start at 200 t/d, ramping as much as 400 t/d with cut-and-fill strategies. A 400-t/d standard cyanide agitated leach and Merrill-Crowe mill is deliberate.
The estimated indicated useful resource is 175.7 million tonnes grading 5.8 g/t gold and 47.4 g/t silver, containing 25,029 oz. gold and 496,637 oz. silver. The inferred useful resource is 629.3 million tonnes grading 5.8 g/t gold and 78.5 g/t silver, containing 60,671 oz. gold and 811.082 oz. silver. There are 85,847 tonnes within the Candelaria dumps thought-about a measured useful resource grading 1.6 g/t gold and 82.9 g/t silver.
Pinos is 12 to 14 months away from manufacturing. Candelaria says a lot of the former mine is accessible with minor rehabilitation, and gear for the mine is available. A workforce has been assembled and main building contracts signed.
The Caballo Blanco gold-copper mission covers two massive centres of epithermal and porphyry hosted gold mineralization. Essentially the most superior mission is La Paila within the Northern zone. It’s oxidized at floor and to a minimum of 300 metres in depth. The 2012 PEA for La Paila proposed a 100,000 oz./12 months open pit and heap leach operations with an eight-year life.
Candelaria has mounted a 12-month, 13,500-metre exploration program at Caballo Blanco on six precedence targets just like La Paila.
(This text first appeared within the Canadian Mining Journal)