Pulacayo Project Feasibility Study - Apogee Silver
Pulacayo Project Feasibility Study - Apogee Silver
Pulacayo Project Feasibility Study - Apogee Silver
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<strong>Pulacayo</strong> 1 000 t/d Phase I <strong>Feasibility</strong> <strong>Study</strong> - NI 43-101 Technical Report<br />
090644-3-0000-20-IFI-100<br />
The mineral reserves were developed by TWP <strong>Project</strong>s (TWP) with Jim Porter (FSAIMM)<br />
acting as the qualified person. Metal price changes or significant changes in costs or<br />
recoveries could materially change the estimated mineral reserves in either a positive or<br />
negative way. At this time, there are no unique situations relative to environmental or socioeconomic<br />
conditions that would put the <strong>Pulacayo</strong> mineral reserves at a higher level of risk<br />
than any other developing resource in Bolivia.<br />
15.6 Comparison of Resource to Reserve<br />
Table 15.2 compares the resource to the reserve.<br />
Table 15.2: Indicated Resources versus Probable Reserves<br />
Item Indicated Resource Probable Reserve<br />
Variation<br />
(%)<br />
Tons 5,960,000 3,557,683 -40.3<br />
Ag Grade 235.94 g/t 239.4 g/t 1.4<br />
Pb Grade 1.11 % 1.09 % -1.4<br />
Zn Grade 1.85 % 1.91 % 3.7<br />
In-situ Ag 45,210,423 oz 27,385,190 oz -39.4<br />
In-situ Pb 66,156 t 38,927 t -41.1<br />
In-situ Zn 110,260 t 67,905 t 38.4<br />
Due to the exclusion of mineralised material that is uneconomic to mine, probable reserves<br />
are 40.3% less than the indicated resources considered in this study. Consequently, the<br />
average grade of silver is slightly higher.<br />
16 MINING<br />
16.1 Mining Method Selection<br />
A trade-off analysis of potential mining methods at <strong>Pulacayo</strong> mine has been undertaken to<br />
determine the most efficient, safe and economic operational arrangement under the existing<br />
conditions. The analysis was based on the local geology, geotechnical properties of the rock<br />
mass, a cut-off grade of 150 g/t silver (Ag) and a Net Smelter Revenue (NSR) of United<br />
States Dollars (USD) 70 per ton mill feed. A variety of conventional, caving and selfsupporting<br />
methods were considered during the trade-off analysis and the deposit was found<br />
amenable to three options; shrinkage stoping, long hole stoping and sub-level caving.<br />
The mine is currently in operation and extracting the upper portions of the deposit along<br />
Level Zero using shrinkage stoping. The mine has fully equipped access tunnels, mining<br />
equipment and the skills required to accomplish this mining method. Consequently, the<br />
TWP Sudamérica S.A. Av. Encalada 1257 Of. 801, Santiago de Surco Lima 33, Perú (51-1) 4377473<br />
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