Primary Infrastructure: Natural Cost Advantage
- 268km2 property, 40km north of Mirador mine (US$1.4B / 20 Mtpa), Adjacent to San Carlos-Panantza copper deposits
- Access road to nearby highway connecting Pacific ports, transmission lines, airport, skilled labour, fresh water
- Access to grid power (hydroelectric), adjacent Santiago development (US$3B / 2,400MW)
Two Objectives: Rapid Growth and Discovery
- Warintza Central Mineral Resource above 0.3% CuEq cut-off:
579 Mt at 0.59% CuEq¹ (Indicated)
887 Mt at 0.47% CuEq¹ (Inferred)
- ‘Indicative Starter Pit’ above 0.6% CuEq cut-off:
180 Mt at 0.82% CuEq² (Indicated)
107 Mt at 0.73% CuEq² (Inferred)
- Central Growth: Open extensions of near surface, high-grade to grow ‘Indicative Starter Pit’
- Super-Pit Growth: East open to north, south, east for major growth potential within shared pit
- Cluster Potential: West and South discoveries on first-ever holes, major growth potential with additional drilling
Warintza Drilling
Summarized drilling for Warintza can be found here. A 3D model incorporating all Warintza drilling completed to date is available on the website homepage.
Extensive System of Outcropping Porphyries
Plan View of 7km x 5km Warintza Porphyry Cluster
Warintza Mineral Resource Plan View (1,400m Elevation)
Warintza Mineral Resource Long Section
Warintza Mineral Resource Cross Section
Undrilled Regional Targets
- Three large-scale, gold anomalies from surface sampling at Warintza
- >0.5 g/t gold-in-soils across broad area, overlapping copper anomaly at Caya
- Geophysical survey identified additional blind targets to test
- Two additional gold anomalies at Clemente
Responsible Mining – Inclusive Approach
Community Involvement is Key to Warintza Success, Resilience
- Innovative approach: commitment to transparency, education and inclusion
- Government and community understanding of impacts and benefits of project
- Community involvement at each step, enhanced with capacity-building program
The Warintza Success Story
- World class discovery by David Lowell in 2000, sat largely dormant since 2001 due to a breakdown in social acceptance from local communities
- Extensive dialogue led to understanding root causes of conflict, resolution of underlying issues mid-2019; instituted an informed, innovative CSR program
- Government-Sponsored Prior Consultation process with community stakeholders and signed Impacts & Benefits Agreement in 2020 (Amended 2022)
The Warintza Model
- Participatory mining model that promotes dialogue between State – Company – Community based on transparency, collaboration, and trust contributing towards the sustainable socio-economic development of the communities and project
- The Warintza Model, through the Strategic Alliance and its Board of Directors, contributes to the local development of the Shuar Centres in tandem with the project’s advancement, including investment in health and education, support for legal mining, environmental stewardship, promotion of entrepreneurship, gender equality, labor and human rights, security, and prospection and exploration activities
Notes:
- Copper equivalent assumes recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical testwork, and metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au. CuEq formula: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t).
- The 'Indicative Starter Pit' is based on the same assumptions as the Resource except utilized metal prices of US$1.00/lb Cu, US$7.50/lb Mo, and US$750/oz Au. No economic analysis has been completed by the Company and there is no guarantee an indicative starter pit will be realized or prove to be economic.
- See the Company's press release dated April 18, 2022 for additional information. The Warintza Mineral Resource estimate was reported and press released on April 18, 2022. The corresponding Technical Report disclosing the mineral resource estimate in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects will be prepared by the Qualified Person, Mario E. Rossi, FAusIMM,RM-SME, Principal Geostatistician of Geosystems International Inc, and made available on SEDAR under the Company's profile at www.sedar.com within 45 days of the press release.