Geology and Mineralization:
- The Property lies within the Central Peruvian Metallogenic Belt, where the mines have produced 12%, 7% and around 10% of the World´s zinc, lead and silver production respectively over the last two decades (USGS, 2001-2020).
- The property is underlain by a package of Cretaceous carbonate and clastic sedimentary rocks that were tightly folded into a series of northwest-trending anticlines and synclines.
- An initial pre-mineralization, NW trending fold and thrust belt formed during Incaic orogenic cycle (late Palaeocene to Eocene). A second phase of contractional deformation in the mid-Miocene is thought to be contemporaneous with mineralization (N-NW trending anticlines and synclines and high-angle thrust faults).
- Jean-Paul Bergoeing Rubilar (2020) identified four different alteration / mineralization events at Santander: (I) Prograde skarn, (ii) Retrograge skarn, (iii) Porphyry-style Qtz-Py-Mo veins, and (iv) Late carbonate stage.
N143-101 Mineral Resource and Reserve Table
| Mineral Resource Statement for Magistral Deposits | ||||
| Category | Tonnes (000) |
Zn (%) |
Pb (%) |
Ag (g/t) |
| Measured | 1,013 | 3.92 | 0.92 | 36.1 |
| Indicated | 1,370 | 4.86 | 0.22 | 17.2 |
| Measured + Indicated | 2,383 | 4.46 | 0.51 | 25.2 |
| Inferred | 1,601 | 3.95 | 0.19 | 15.7 |
| Mineral Resource Statement for the Santander Pipe | |||||
| Category | Tonnes (000) |
Zn (%) |
Cu (%) |
Pb (%) |
Ag (g/t) |
| Indicated | 1,791 | 7.18 | 0.10 | 0.03 | 14.8 |
| Inferred | 3,189 | 5.07 | 0.15 | 0.004 | 7.9 |
- The Mineral Resource Estimate (MRE) was developed by DRA based on the resource wireframes modelled by Trevali. Magistral Deposits were discretized into three domains (Main Zone, T Zone, and Secondary Zone), whilst the Santander Pipe was estimated as a single domain.
- The MRE was developed under industry standards and included: compositing of grades to appropriate sample lengths, statistical analysis, sub-block model, variography and Ordinary Krigging interpolation, resource classification, and model validation—through statistical comparison, visual checks, and Swath plots.
- The MRE is reported above a Net Smelter Return (NSR) cut-off of US$40, based on recent production and processing of the Magistral mine products and metal prices from London Metal Exchange (LME) 2021 averages.