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Company profile Baja Mining’s work ethic proving fundamental to success at Boleo Baja Mining Corp (TSX:BAJ; OTCQX:BAJFF) is a Canadian mine-development company with a 70% interest in the Boleo copper-cobaltzinc-manganese project located near Santa Rosalia, Baja California Sur, Mexico. Boleo is fully funded and remains on target for production to commence in the first half of 2013. John Greenslade, Baja president and CEO, first staked the Boleo site in 1992 and, since then, the company has systematically developed its partnerships and internal resources. Minera y Metalurgica del Boleo SA de CV (MMB) owns 100% of the mineral concessions covering the Boleo deposit. Baja owns a consolidated 70% interest in MMB, with the remaining 30% held by a Korean consortium including Korea Resources Corporation, LS-Nikko Copper Inc, Hyundai Hysco Co Ltd, SK Networks Co Ltd, and Iljin Materials Co Ltd. The high-grade deposit hosts a NI 43-101-compliant global reserve of 85Mt, grading 1.33% Cu and an M&I resource of 265Mt grading 0.76% Cu, with cobalt and zinc, by-products. The company is exploring the mang anese potential at Boleo but, to date, has not included manganese in its economics. The company has currently scheduled the first 23 years of mining. Copper production at the Boleo site is at an advanced stage of development, with production anticipated in a little more than a year. Boleo is expected to be a low-cost/long-life producer with life-of-mine cash costs net of by-product credits of -$0.29/lb (based on the NI 43-101 March 2010 Technical Report; reserves included in resources). Simulators are used to train drivers for the earth-moving trucks Bringing the project to life Building an operation the magnitude of Boleo from the ground up, in a remote location on a tight schedule, required a strong management team with diverse and specific skills. A significant requirement, particularly after the economic downturn in 2008, was to fund the rest of the Boleo project. In 2010, John Greenslade and the Baja team raised over US$1.1 billion – an accomplishment that fully funded the project and garnered two prestigious awards for its effectiveness. While financing was being sought, Baja’s human resources team began identifying the behaviours that future employees must demonstrate on the job. Those behaviours were translated into competencies, which have since become the guideposts for recruitment strategies and policies, performance-management programmes, as well as training and development initiatives. Boleo’s international location meant a need to attract as many candidates with international experience as possible, a preference for exposure to Latin-American cultures and/or fluency in Spanish. Training was initiated to fill the skills gaps, promote understanding of cultural differences, as well as communicate the value of adapting behaviours to foster more effective communications and improve workplace relationships in foreign locations. Also critical to the process was corporate governance. This required the development of a comprehensive manual of codes and procedures that form the backbone of how Baja and its people work as a team, as a company, and as good corporate citizens. Developing a mine in Mexico meant identifying the issues that, for Mexico, were most important. Baja has worked diligently to respect the local community and create a benefit for its citizens. Local suppliers are used when possible for site requirements, and community engagement is paramount. A conscious effort was made to employ local residents where possible. Local women were hired and trained to drive the many large earth-moving vehicles. Professionals from, and educated in, Mexico were hired for important jobs in areas such as construction, mining www.bajamining.com Boleo ê operations and geotech. Further local support is provided for the thousands of employees on site with local medical services, laundry and meal services. Extraordinary efforts were made to protect the historic ‘cardones’, or giant cactus, at site. Those removed from areas where processing infrastructure was planned were moved to a temporary protection area prior to relocation within the 19,500ha property. Each transplanted cardon was examined to evaluate its health, nurtured or cultured, prepared for transplant, and moved to a location that allows it to thrive. All were tagged and are now monitored to ensure their long-term health. Based largely on its local community-engagement efforts, Baja has received full support for its initiatives in Santa Rosalia and the surrounding towns. CONTACT Baja Mining Corp 500-200 Burrard Street, Vancouver, BC, Canada V6C 3L6 Tel: +1 604 685 2323 Fax: +1 604 629 5228 Email: info@bajamining.com The production plant at Baja Mining’s Boleo site is growing and changing daily
In Peru, Metminco Ltd has completed the third phase of drilling at Los Calatos copper-molybdenum property, with the results interpreted to have extended the length of the mineralised zone to more than 1.2km. Hochschild Mining plc has received independent feasibility studies for the Inmaculada and Crespo silver projects in Peru, both of which indicated that development of the respective projects would be profitable. Hochschild holds a 60% interest in Inmaculada, 4,200-4,800m above sea level in Ayacucho department. Proven and probable reserves are estimated at 7.8Mt at an average grade of 3.37g/t Au Drilling at Stratex’s Öksüt project in Turkey and 120g/t Ag, using metals prices of US$1,100/oz for length of 1.2km and a width of up to 850m. gold and US$18/oz for silver. In Bulgaria, Euromax Resources Ltd has completed Also in Peru, Macusani Yellowcake Inc is focusing on further drilling at its Trun gold property, targeting the exploration of the Kihitian uranium property, and a Ruy and Logo zones. The company said that resource estimate is expected to be announced soon. mineralisation at the property is associated with large Infill drilling at Azimuth Resources Ltd’s West Omai granite and syenite stocks that intrude metamorphic gold property in Guyana has continued to intersect rocks in a broad anticline. high-grade mineralisation. The results were to be There has been considerable exploration activity in included in an upcoming resource estimate in March. Turkey. For example, drilling by Dedeman Madencilik, the operator of the Balya exploration property (over European scene which Eurasian Minerals Inc holds a royalty right) has Notwithstanding the euro crisis, exploration is robust expanded base-metal mineralisation. in Europe. For example, Stratex International plc In Spain, Berkeley Resources Ltd has completed recently received a revised resource estimate for the a preliminary feasibility study for the first stage of its joint-venture Öksüt gold project in Turkey that Salamanca 1 uranium project. Berkeley considered delineated 230% more gold than the previous the exploitation of two deposits at Salamanca 1 calculation. The estimate, by consultant Wardell (Retortillo and Santidad) and the study’s findings Armstrong, included data from last year’s drilling formed the basis of an exploitation plan prepared by programme at the Ortaçam and Ortaçam North consultant CRN. deposits. Stratex said that the total of just over Also in Spain, EMED Mining Public Ltd expects to 1Moz of gold included about 560,000oz in oxide and gain a permit shortly for a reopening of the Rio Tinto 485,000oz in sulphide mineralisation. copper mine. Work is expected to start later this Also in Turkey, Pilot Gold Inc has received the first year, with production to commence in 2013. resource estimate for its 40% owned Halilaga Regarding precious-metals exploration in Spain, porp hyry copper-gold deposit, which was discovered Astur owns the Salave gold project in the northern by the management team when in charge of Fronteer Asturias province. The project has an estimated Gold Inc. Independent consultant Advantage resource of 17.9Mt at 2.92g/t in the measured and Geoservices calculated indicated and inferred indicated categories for 1.7Moz. resources containing 3.3Moz of gold and 960,000t of Renaissance Gold Inc has defined a new district of copper. The estimate was based on the Kestane zone, copper-gold mineralisation in an historic iron-ore min- where CJSMJournal1/3ADFILM:Layout mineralisation has been defined 1 over 12-02-15 a strike 2:50 ing PM district Page in 1southern Spain referred to as the Baza February 2012 EXPLORATION SPECIAL Mining • Minerals • Metals EXPERIENCE MATTERS... As a trusted advisor for 30 years, C.J. Stafford & Associates have been the executive search and recruitment leader for companies and individuals in the mining sector world-wide. We’ve earned respect nationally and internationally because we understand the concerns. And we’ve responded to the unique challenges of this resource industry with a clear focus and outstanding results. Visit us at PDAC 2012 Booth #818 www.cjstafford.com • 416.484.1960 project. This project includes a large land position covering many occurrences of siderite-albite veining. Specific areas have a significant Cu-Au tenor and samples up to 20 g/t Au and 10% Cu have been found. In Armenia, Lydian International Ltd has published a resource estimate for its Amulsar gold project. This defined more than 3Moz of gold within combined indicated and inferred categories. The calculation, by consultant Independent Mining Consultants, designated indicated resources containing 2.1Moz, and a further 1.1Moz within the inferred category. Most of the total was defined within the contiguous Tigranes-Artavasdes areas, and the remainder within the recently-defined Erato zone, about 900m away. In Greenland, independent mining studies for Ironbark Zinc Ltd’s Citronen zinc-lead project have outlined more potentially-mineable material, following a resource upgrade. Ironbark’s resource update defined more mineralisation within the measured and indicated resource categories. The measured category was estimated at 24.8Mt at 5.2% Zn and 0.6% Pb, indicated 27.6Mt at 5.6% Zn and 0.5% Pb, and inferred 20.6Mt at 4.7% Zn and 0.4% Pb. Exploration booming in Africa Tanzania remains a popular destination. For example, exploration amounting to US$40 million, including 166,000m of drilling, has been used to quadruple African Barrick Gold plc’s estimate for Tusker gold deposit, part of its Nyanzaga gold project. African Barrick calculated that Tusker contained 3.5Moz of gold within indicated resources captured by an open-pit outline designed using a gold price of US$1,400/oz, with an additional 0.6Moz in the inferred category. The previous estimate for the deposit contained about 313,000oz of gold within indicated, and 650,000oz in inferred categories. An independent estimate has doubled contained gold within measured and indicated categories at Helio Resource Corp’s SMP gold project in Tanzania to just over 1Moz. SRK Consulting calculated the overall tonnage for four deposits (Porcupine, Kenge, Konokono and Tumbili), using a 0.5g/t Au cut-off grade. Using a higher cut-off grade of 0.7g/t Au, Our success rate is well above the industry average. It’s because of our industry-specific knowledge, global pool of talent, experienced consultants in strategic locations around the world, and our appreciation of the key issues associated with attracting the best talent. Our commitment to you is built on a foundation of personalized attention and innovative methodology to search and place the finest professionals in mining industry positions world-wide. You have our word on that. Santiago • Johannesburg • London • Toronto • Denver • Perth • Lima Mining Journal special publication – PDAC 25
Page 1 and 2: PDAC | MARCH 4-7, 2012 exploration
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Page 8 and 9: 8 EXPLORATION SPECIAL Where to find
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Page 30 and 31: Company profile Lydian Internationa
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