San Luis is a 100% owned project, located in the Ancash Department, central Peru. The project is centered on a high-grade, gold-silver vein, the Ayelén vein, which was discovered in 2005.
Highlights of the project include:
- Mineral Resources: Indicated Mineral Resources of 9.0 million ounces of silver at an average grade of 578 g/t and 0.35 million ounces of gold at a grade of 22.40 g/t. Inferred Mineral Resources of 0.2 million ounces of silver at an average grade of 270 g/t. Mineral Resources are as at December 31, 2019.
A Feasibility Study on the San Luis project was completed in the second quarter of 2010. Highlights of the Feasibility Study include:
- Mine life: The underground mine planned to exploit the Ayelén vein has an estimated life of 3.5 years.
- Robust project economics: A net present value of $39.2 million (5% discount rate) at base case metal prices and an internal rate of return of 26.5% at base case metal prices (gold price of $800/oz and silver price of $12.50/oz).
- Capital expenditures: $90.4 million (+/- 15%) for a 400 tonne/day underground mine.
In 2020 we plan to commence a detailed mapping program in the area of the existing high-grade gold-silver Mineral Reserves and Resources.
Please refer to the technical report entitled "Technical Report for the San Luis Project Feasibility Study, Ancash Department, Peru" dated June 4, 2010, a link to which is provided below.
Mineral Resources are reported inclusive of Mineral Reserves. Please refer to our Mineral Reserves and Resources Table.
This page contains forward-looking statements. Please see the following link: Legal.