PROYECTO RETRATAMIENTO DE COLAS “FARALLÓN NEGRO”
Estamos buscando inversionista para la explotación de este proyecto de tratamiento de colas con altos contenidos de oro y plata.
Au 4 gr 7 TM Ag 100 gr/TM
Reserva 4 Millones de toneladas
2. Tailings Retreatment ProjectApril 2018
Project Objectives
• Leverage a waste resource, already mined and
processed, in order to add additional production to
the current cashflow of the operation.
• Reduce operating costs and improve overall gold and
silver recoveries
• Commitment to environmental and economic
sustainability as a responsable member of the
community.
3. Tailings Retreatment ProjectApril 2018
Project Advantages
• Material is already mined and processed (crushed
and partially milled), with no geological or mining
risk.
• Leveraging marginal costs from already existent
infrastructure and facilities at Farallón Negro (and
nearby Minera Alumbrera)
• Excellent relationship with the communities and local
authorities
• Leadership in the promotion of obtaing value from
waste in the mining sector
4. Tailings Retreatment ProjectApril 2018
Farallón Negro Operations
• Farallón Negro is owned and operated by
Yacimientos Mineros de Agua de Dionisio
(YMAD) situated at 2700 m.a.s.l. in the
District of Hualfín, Department of Belén and
the Province of Catamarca in Argentina. An
historic site in the region, important as part
of the communities in the area.
• YMAD is an interstate entity made up of the
Province of Catamarca, the University of
Tucumán, and the Federal Government, and
their concession extends to the following
áreas (see graphic).
5. Tailings Retreatment ProjectApril 2018
Farallón Negro Operations
• The principal deposits being mined at Farallón Negro are the
Farallon Negro system (exhausted) and Alto de la Blenda –
these deposits are epithermal (low sulfuration) type. Ore
minerals are manganese oxides, sulphides, sulphosalts
associated with Au and Ag and quartz, carbonate gangue.
• Since 1958 the operation has been producing gold and silver
dorè (initially also magnesium concentrate in the initial years)
from its underground mine, through its conventional agitated
leach operation at 200 t/d (with Merrill Crowe) for its high
grade material (> 4 g/t Au, ~100 g/t Ag), and since the 80s an
additional 800 tpd in an on-off heap leach for lower grades (<
2 g/t Au, ~50 g/t Ag).
6. Tailings Retreatment ProjectApril 2018
Project Background
• Approximately 4 million of tons of dry tailings stocked at
Farallon Negro (plant and heap tails) with a combined metallic
content of 80 koz Au and 6,5 Moz Ag.
• Two types of tails:
– Fine milled tails (denominated “plant” tailings @150 microns) from
the agitated cyanide leach plant
– coarse tailings (denomicated “heap” @ 1/2“ ) from the crusing –
dynamic heap leach
10. Tailings Retreatment ProjectApril 2018
Project Stages and Progress
– Contained ounces: Reserve report with drilling
campaign methodology and plant/heap tail
calculations issued Oct 2017.
– Recoveries and processing technology: Complete
metallurgical testwork with GEKKO & ALS adjudicated
in bid process. Final results end April 2018.
– Cost estimation: Development of feasibility
engingeering for processing, transport, tailings
facilities and infrastructure (including synergies with
current plant). Programmed for July 2018
– Investment decision: Financial evaluations of posible
optiones expected in second semester
11. Tailings Retreatment ProjectApril 2018
Results: Contained ounces up until
2015
Area Tons Au g/t Ag g/t Au (ozt) Ag (ozt)
Fine
Tailings
Sector "El Rulito" 119.839 0,27 28,56 1 040
110 039
Sector "Dique
intermedio"
362.405 0,42 53,31 4 894
621 146
Sector "Plant
Dump"
1.627.710 0,59 60,89 30 871
3 186 658
Subtotal fines 2.109.954 0,54 57,75 36 805 3 917 843
Coarse
Tailinfs
Heap Tailings
Dump
1.650.834 0,82 49,12 43 522 2 607 069
Total 3.760.788 0,66 53,96 80 327 6 524 912
1. Drilling campaign (2008) of plant fine tailings 1978-2008
2. Plant tails residues from 2008 -2015 and heap tailings 1980 - 2015
12. Tailings Retreatment ProjectApril 2018
Technological Options
OPTION 1: Leaching only plant
– Best results at 75 microns (both tails require
milling):
• Coarse tails: 95% Au, 65% Ag @>1500 ppm NaCN
• Fine tails: 85% Au, 50% Ag @>1500 ppm NaCN
– Diagnostic leach showed 10-15% refractory Au
and 25-50% refractory silver.
– Filtered tailings as per current tails handling
14. Tailings Retreatment ProjectApril 2018
Technological Options
OPTION 2: Flotation based on best results
– Size p80 75 – 106 microns (conventional milling)
– Using conditions in Alumbrera
• Recoveries 73% Au (8-17 g/t), 42% Ag (460-801 g/t) in 5-7%
mass
• Possible previous gravity stage for coarse tailings (3% mass
recovery 48% Au and 25% Ag). Fine tailings did not respond
to gravity concentration
• Possible intensive leaching of concentrate and smelting to
produce doré, not concentrate
– Open possibility to use 20 tpd line in Alumbrera.
– Front end transport of tailings to be studied.
– Not a stand alone option for Farallón Negro.
15. Tailings Retreatment ProjectApril 2018
Project Data (PROVISIONAL)
• 3Mt available
• 40 koz coarse & 30 koz fine Au, 3,2 Moz coarse & 2,5
Moz fine Ag
• Leaching only option (Farallón Negro)
– 25 MUSD CAPEX, 600 USD/oz eq Au OPEX for 1000 tpd, 8 years
– Total production: 63,5 koz Au & 3,33 Moz Ag (8 koz Au, 400 koz Ag
annually)
• Flotation option Alumbrera
– 10~15 MUSD CAPEX, 200 USD/oz eq Au OPEX for 20 ktpd, 6 months
– Total production: 49,5 koz Au & 2,28 Moz Ag
16. Tailings Retreatment ProjectApril 2018
Project Data (PROVISIONAL)
• 3Mt available
• 40 koz coarse & 30 koz fine Au, 3,2 Moz coarse &
2,5 Moz fine Ag
• Leaching only option (Farallón Negro)
– NPV (7%) 42 MUSD, IRR 45%, Payback 2,12 years
• Flotation option Alumbrera
– NPV (7%) 63 MUSD, IRR 491%, Payback < 1 yeas
17. Tailings Retreatment ProjectApril 2018
Key Decision Milestones
Concentration
and Flotation
technology
selection
30 April 2018
Agitated Leach
technology
selection
30 April 2018
Final
Technology
Selection
31 May 2018
Engineering
and Cost
Estimation
S2 2018
Financial
Evaluation and
Investment
decision
S2 2018
