ARIANA
LOCATION
Junín, Perú
KEY COMMODITIES
Cu (Zn/Au/Ag)
LAND PACKAGE

4,960 ha

MILL CAPACITY
2,000tpd
DEPOSIT TYPE
Hydrothermal skarn
C1 CASH COST LOM
US$0.51/lb
TYPE OF MINE
Underground
OWNERSHIP

100%

COPPER/ZINC PROJECT
OVERVIEW

Ariana is an underground Copper/Zinc hydrothermal skarn (with Au/Ag by-products) located in the Yauli Province, Junin Region, Peru. Ariana is located in the rich Central Peruvian polymetallic belt and is 45 km away from the Central Highway. Ariana is approximately 165km from the port of Callao, at a height of 4,500-5,000 meters above sea level. The total land package for Ariana covers 960 hectares.

KEY HIGHLIGHTS

Initial construction works are currently being carried out at the project, with an estimated US$ 140mn start-up capex for mine development, plant construction and infrastructure.

A conventional flotation plant will be built with an initial throughput of 2,000tpd, producing Copper concentrate (with Au/ag payables) and Zinc concentrate.

The property maintains significant geological potential with deposit open at depth and along strike, as well as offering near mine regional opportunities for future exploration.

Life of mine operations are estimated to process 1.03mt annually, with grades averaging 1.01% Cu, 1.27% Zn, 0.75 g/t Au and 15.1 g/t Ag at a C1 Cash Costs of US$ 0.51/lb.

COPPER AND ZINC SULPHIDES
GEOLOGY

The Project is located within the Cordillera Occidental morphological unit, east of the continental water division. Most of the area consists of carbonate rocks from the Upper Cretaceous Jumasha and Celendín formations. The mineralization is hosted in the carbonate rocks of the Jumasha Formation.
The main mineralized structure, Veta Real is almost vertical and has irregular and discontinued skarn bodies (on surface) with a northwest-southeast orientation along the eastern flank of the Ariana Anticline. It extends for approximately 1,000 m as a serpentine belt of structures similar to a “vein” and consists of bodies, pockets, lenses, and irregular and discontinuous veins with a width of up to 80 m on surface and up to 120 m at depth. The mineralization consists mainly of copper and zinc sulphides, with minor amounts of gold and silver.

ARIANA

RESERVES & RESOURCES

1. CIM (2014) definitions were followed for Mineral Resources.

2. Mineral Resources are estimated at a NSR cut-off value of $35/t.

3. Mineral Resources are estimated using a long-term silver price of USD $23 per ounce, gold price of USD $1,500 per ounce, gold price of USD $ 3.50 per pound and a zinc price of USD $ 1.50 per ounce.

4. Mineral Resources are inclusive of Mineral Reserves.

1. CIM (2014) definitions were followed for Mineral Resources.
2. Mineral Reserves are estimated as a cut-off NSR value of $35/t.
3. Mineral Reserves are estimated using an average long-term price of USD $1/lb for Cu, USD $1.15/lb for Zn, USD $1,300 per ounce for gold and a USD $20 per ounce for silver.

NEAR MINE POTENTIAL TARGETS
FUTURE POTENTIAL

The Ariana deposit has significant potential to grow along strike and at depth. Future exploration campaigns will be focused on extending the current resource envelope at depth and to the north of the mineralized body.

In addition, SPM has identified near mine potential targets such as Don Samuel, currently in early exploration phase. At Don Samuel contact skarns & veins with polymetallic mineralization have been identified, with geochemical Cu, Zn and Ag anomalies present. The Ariana Centro area is a vein-type deposit confirmed by diamond drilling and old mining works. Further exploration will be carried out as an extension to the current Ariana Deposit.