For thousands of other reports visit RSC's Mineral Intellingence Map
Xiana Mining Inc.
Summary
| Project: | Punitaqui | |
|---|---|---|
| Deposit: | Punitaqui | |
| Location: | Chile | |
| Commodities: | Copper-Silver-Gold | |
| Date: | 11/21/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-11-2018: Xiana Mining Inc. announces a Supporting Acquisition report for its Punitaqui deposit at the Punitaqui project. Summary of property in support of acquisition. The Punitaqui Project is a producing copper-gold mine in Chile, located near the tow | |
| Resources: | ||
| CP/QP: | [Resources]: Ross Corbe (JDS Energy & Mining Inc.) | |
| ABSTRACT: | The Punitaqui Project is a producing copper-gold mine in Chile, located near the town of the town of Punitaqui, near Ovalle in the Fourth Region of the Republic of Chile. Minera Altos de Punitaqui Ltda (MAP) has operated for several years under the ownership and direction of Glencore Plc. prior to its acquisition by Xiana Mining Inc. on 22 May 2018. Xiana and Xiana Chile SPA (a wholly owned subsidiary of Xiana) signed the MAP agreement on May 18, 2018, to acquire a 100% interest in MAP pursuant to an arm’s length transaction with Glencore. The terms of the purchase were subsequently modified as announced in a 24 October 2018 News Release. The modified terms of the sale are summarized as follows The property contains a mill that is permitted to operate at 3,000 t/d, fed by various sources near the property including: the Cinabrio mine; Dalamacia open pit mine (in development); the Dalmacia underground mine (in development); the Los Mantos open pit mine; and the Milagros underground mine. There is also a minor component of custom milling from nearby properties. The Cinabrio mine is located approximately 25 km north of the processing plant; the Dalmacia mines are approximately 12 km to the south; and the Los Mantos and Milagros mines are within 1 km to the south. Surface haulage from the outlying properties is accomplished using 20 to 25 tonne (t) highway trucks. The authorities allow a 20% increase in operational throughput over permit and so the mine can nominally run up to a mill throughput of 3,600 t/d. All mining is performed by a contractor. Site management, technical services, and the operation of the processing plant is by MAP. Of the approximately 741 on-site employees, 158 are company employees and 583 are contractors, most belonging to the mining contractor, Ingenería Y Construcciones Mas Errazuriz Limitada (Errazuriz). Approximately 90% of the workforce lives locally in the nearby towns of Punitaqui or Ovalle. Busing for site workers is provided by MAP. The mine is connected to grid power supplied by local producers. Stratification consists of a sequence of volcanic rocks (lavas, conglomerates and andesitic breccias) with marine sediment collations (shales, fossiliferous limestones and thin layers of sandstones). This sequence is known as “Estratos El Reloj” or the Clock Strata, of lower Cretaceous age. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report