|Location||Nueva Segovia, Nicaragua|
|Mine Type||Open Pit and under-ground potential|
|Metals mined||Au, Ag|
|Deposit Type||Orogenic – High grade Au, shallow dipping 1-2m wide stacked veins|
|Resources and Reserves|
San Albino, Nicaragua’s newest high-grade gold mine, is a high-margin open pit operation. Based on a measured and indicated pit resource grade of 9.54 g/t Au, the project is one of the highest-grade surface mines in the world.
Our strategy is to consolidate a low-cost, cornerstone operation at San Albino– an area that only represents ~2% of our landholdings
Cash flow from San Albino is funding exploration on the district-scale Nicaraguan land package of ~188 sq. km
|Q1 2022||Q2 2022|
*Strip ratio includes pre-striping and accelerated waste development prior to the start of rainy season in May.
|Tonnes per day||Tpd||596 (87% availability)||589 (92% availability)|
|Total Cash Costs||US$/Oz. Au sold||862||TBD|
|All sustaining cash cost (“AISC”)||US$/Oz. Au sold||1,104||TBD|
Geology and Mineralization
Mineralization at San Albino appears consistent with the orogenic gold deposit model: this deposit type is ultimately traced back to orogenesis (collisional plate tectonics). Orogenic deposits tend to occur on a district scale and are one of the largest deposit types in terms of gold endowment, tend to be high-grade and typically occur in clusters.
The gold-bearing veins at the project formed over a period of deformation, with alteration indicating a low degree of metamorphism. This metamorphism, together with thrust fault control suggests a high-level orogenic deposit at San Albino, analogous to Kinross’ (TSX: KGC; NYSE: K) Paracatu gold mine in Brazil.
Gold at San Albino is hosted in west-dipping quartz veins within shear (higher-strain) zones. The shear zones are typically stacked in a subparallel fashion, creating vein systems.
History & Milestones
- Permit to construct and operate (up to 500tpd) received September 2017 (announced Sep 12, 2017)
- Positive metallurgical test results at San Albino with optimized overall gold recoveries ranging from 86.1 to 96.9% (announced Dec 13, 2019)
- Permit amendment to process up to 1,000tpd received August 2020 (announced August 24, 2020)
- Mining of first four benches containing vein material at San Albino yields 7,734 oz Au at a diluted grade of 17.45 g/t Au (announced Apr 19, 2021)
- Construction completed with commercial production declared effective July 1, 2021 (announced Jul 13, 2021)