Pulacayo Project Feasibility Study - Apogee Silver

Pulacayo 1 000 t/d Phase I Feasibility Study - NI 43-101 Technical Report
090644-3-0000-20-IFI-100
In November 2007, Apogee started Phase II drilling at Pulacayo and completed 14 holes
totaling 3,745 m (PUD043 to PUD056). All holes were drilled from surface locations and
results showed that the TVS consisted of disseminated, veinlet, and stock work sulphide
mineralized material measuring up to 120 m in width within which high grade mineralized
shoots were present that had not been exploited by previous operators of the mine
Phase III drilling was undertaken by Apogee between January and May, 2008 at which time
54 holes totaling 14,096 m were completed (PUD057 to PUD110). Of these, 8 holes were
drilled from underground and the balance from surface. A tabulation of significant 2007 and
2008 drilling intercepts, drill hole locations and associated collar coordination, hole
orientation and length data appear in the previously disclosed resource estimate technical
report by Cullen and Webster (2012a).
Phase I drilling was completed by the Leduc Drilling S.R.L of La Paz, Bolivia and subsequent
Phase II and III programs were completed by the Fujita Core Drilling Company of Bolivia.
The companies used Longyear model LF44, LM-55, LF-90 and LM-90 drilling rigs for the
surface and underground programs and core size was generally HQ (65.3 mm diameter). In
certain instances, ground conditions around old workings or other issues required reduction
in core size to NQ (47.6 mm diameter).
10.4 Apogee Drilling (January 2010 – December 2011)
Phase IV drilling was initiated by Apogee in January of 2010. The surface program continued
until the end of 2011 and underground drilling was carried out on a limited basis during that
time in support of test mining activities within the current resource outline (PUD-111-
PUD266). The current resource estimate includes all Phase IV surface holes up to and
including hole PD266, for a total of 42,522 m of Phase IV drilling to the end of 2011. The last
45 holes of the surface drilling program (6,253.83 m) were directed toward evaluation of
oxide zone resource potential above the main sulphide zone of the TVS. Drilling program
results received since the last resource estimate by Mercator improved the level of
confidence within certain sulphide zone mineral resource areas and also allowed estimation
and evaluation of oxide zone resources.
Cullen et al. (2012) presented a tabulation of selected significant drill intercepts in that
previously disclosed technical report, along with a plan for drill holes and tabulations of collar
coordination, hole orientation and length data. Figure 10.1 presents a typical drilling plan and
longitudinal section for the project.
The Fujita Core Drilling Company continued to provide drilling services at Pulacayo through
the current reporting period, using Longyear models LF44, LM-55, LF-90 and LM-90 rigs for
surface and underground drilling. The core size has been HQ except where ground
conditions around old workings or other issues have required reduction in core size to NQ.
TWP Sudamérica S.A. Av. Encalada 1257 Of. 801, Santiago de Surco Lima 33, Perú (51-1) 4377473
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