silver deposits of peru - proexplo.com.pe 20/sala … · silver deposits of peru 45,000 m oz ag...

Silver Deposits of Peru

A survey – May 2013

Silver Deposits of Peru

� 45,000 M oz Ag mined, 25,000 M oz in the last 100 years

� Switching uses � from photography to industrial uses

A few facts about silver

� Increased investor demand

� Poor man’s gold

Never forget the price

Silver Deposits in Peru

And more recently


� Cost escalation

� Capex escalation

Not only price


� Time… specially in Peru (will not talk politics!!!)

� 70% of silver production occurs as by – product credits

� Silver is recovered from a variety of ore deposit types occurring in unrelated tectonic settings

Describing silver deposits is a challenge


� Most modern studies on ore deposits types for precious metals focus on gold

Mine Country 2010 Production

Cannington Ag - Pb - Zn Mine Australia 38.6 Moz

Fresnillo Ag Mine Mexico 38.6 Moz

A worldwide look at large silver deposits


San Cristobal Polymetallic Mine Bolivia 19.4 Moz

Antamina Cu – Zn Mine Peru 14.9 Moz

Rudna Cu Mine Poland 14.9 Moz

Peñasquito Pollymetallic Mine Mexico 13.9 Moz

Project CountryAnticipated Annual

Production Capacity (due within five years???)

Pascua Lama Chile 25.0 Moz

A worldwide look at large silver deposits


Navidad Argentina 15.0 Moz

Juanicipio Mexico 14.0 Moz

Malku Khota Bolivia 13.2 Moz

Hackett River Canada 13.1 Moz

Corani Peru 10.0 Moz

CountriesAg Production (M oz)2011 2012

Mexico 133 137

China 119 122

Peru 110 111

Australia 56 61

So where does Peru fit?


Australia 56 61

Russia 43 48

Bolivia 39 42

Poland 38 38

Chile 41 36

USA 36 34

Canada 17 17

Other 116 125

Total 748 771

Deposit CountryM oz Ag

containedGrade (g/t) Type

Lubin Poland 4370 40 Lithogene

Cerro Rico Bolivia 2000 400 Low sulphidation

Fresnillo Mexico 1860 320 Low sulphidation

Peñasquito Mexico 1850 26 Low sulphidation

Giant deposits around the world


Peñasquito Mexico 1850 26 Low sulphidation

Cerro de Pasco Peru 1725 267 Carbonate replacement

Butte USA 1410 ? Porphyry

Pachuca Mexico 1400 500 Low sulphidation

Broken Hill Australia 1330 147 Sedex

Guanajuato Mexico 1160 800 Low sulphidation

Coeur D'Alene USA 1100 341 Lithogene

Cannington Australia 761 536 Sedex

Navidad Argentina 751 127 Low sulphidation

Zacatecas Mexico 747 900 Low sulphidation

Mt. Isa Australia 723 149 Sedex

Deposit CountryM oz Ag

containedGrade (g/t) Type

Hilton Fisher Australia 711 97 Sedex

Brunswick Canada 672 91 VMS

San Francisco Mexico 670 150 Low sulphidation

Pitarrilla Mexico 644 79 Low sulphidation

Giant deposits around the world (cont.)


Pitarrilla Mexico 644 79 Low sulphidation

Gakun China 626 157 VMS

San Cristobal Bolivia 590 60 Low sulphidation

Antamina Peru 590 10 Skarn

Bingham Canyon USA 565 3 Porphyry

Pascua Chile 557 40 High sulphidation

Cobalt Canada 550 8,525 Lithogene

Greens Creek USA 549 709 VMS

Udokan Russia 540 14 Lithogene

Toquepala Peru 532 5 Porphyry

� 42 deposits account for 105 M oz Ag (± 95%) of Peru´s Silver production

� The top 10 producers account for 60% of silver production while the top 20 account for 85%

So where does silver in Peru come from?


top 20 account for 85%

MineM Oz Ag

ProducedProduction Grade (g/t)

Type

Yauli 11.2 102 Unclassified Veins

Antamina 10.8 10 Skarn

Uchucchacua 10.1 446 Carbonate Hosted

Low

A look at the top 20

MineM Oz Ag

ProducedProduction Grade (g/t)

Type

Julcani 2.4 638 Low Sulphidation

Caylloma 2.1 171 Low Sulphidation

Casapalca 2 82 Unclassified Veins


Pallancata 8.8 301 Low Sulphidation

Arcata 6.1 312 Low Sulphidation

Cerro de Pasco

5.1 63 Carbonate Hosted

Chungar 4.9 101 Unclassified Veins

El Brocal 2.9 65 Carbonate Hosted

Huaron 2.8 177 Unclassified Veins

Yauliyacu 2.5 72 Unclassified Veins

Cerro Lindo 2.4 68 VMS

Atacocha 2 85 Carbonate Hosted

Cuajone 1.9 2 Porphyry

Morococha 1.9 128 Carbonate Hosted

Toquepala 1.7 2 Porphyry

Aruntani 1.6 10 High Sulphidation

Yaruricocha 1.6 158 Carbonate Hosted

Type of Deposit2012 Production

(M oz Ag)Typical grades

(g/t) % Value from Ag

VMS 22 30 - 70 5 -10

Unclassified Veins 38 80 - 180 20 - 50

Another look at producers


Porphyries 5 1.5 - 2.5 2 - 5

Low sulphidation veins

24 100 - 600 60 - 90

IOCG 1 10 2 - 5

High Sulphidation 5 20 - 40 5 - 20

Carbonate Hosted 4 60 - 400 10 - 40

Skarns 14 6 5 -8

Property NameGrade (g/t)

M oz Ag Contained

Antamina Copper/Zinc Mine9.8 586.40

Toquepala Copper/Molybdenum Mine 4.9 532.15

Toromocho Copper Deposit7.0 478.74

Looking into resources


M oz Ag Contained

Iscaycruz Zinc/Lead Mine185.1 134.17

Huaron Silver/Base Metal Mine166.4 116.75

Cerro Verde Copper/Molybdenum Mine 0.8 115.34


Corani Silver/Lead/Zinc Project37.2 406.70

Cuajone Copper/Molybdenum Mine 5.0 378.51

Cerro de Pasco Mine96.0 231.90

Las BambasCopper/Molybdenum/Gold Mine 3.0 166.96

Santa Ana Silver Project41.4 164.25

Los Quenuales Zinc/Lead Operation 118.2 146.68

Tambo Grande Copper/Zinc/Gold Project 28.7 135.60

El Brocal Copper/Zinc/Silver Operation 20.2 108.99

Tantahuatay Gold/Silver Project6.4 106.30

Sinchao10.2 96.25

Arcata Silver/Gold Mine406.5 92.78

ConstanciaCopper/Gold/Molybdenum Mine 2.5 92.68

Berenguela Silver/Copper Project 126.4 87.75

Pallancata Silver/Gold Mine345.8 87.13

� There are about 90 silver containing assets in Peru of which roughly 50% are in production

� The total endowment is the order of 6,000 M oz Ag and roughly 65% is in the top 20 projects and mines

So…


is in the top 20 projects and mines


M oz Ag

Cont.Deposit type

Julcani Silver Mine643.4 13.90

Epithermal

Uchucchacua Silver/Base Metal Operation 411.9 66.50

Carbonate replacement


Epithermal

Looking at grades


M oz Ag

Cont.Deposit type

Iscaycruz Zinc/Lead Mine 185.1 134.17 Carbonate replacement

PachapaquiZinc/Lead/Silver Mine 184.5 43.29


Azuca Gold/Silver Project 179.1 80.57 Epithermal



Epithermal

Pucarrajo Zinc Mine402.7 18.39


Pallancata Silver/Gold Mine 345.8 87.13

Epithermal

Shila-Paula Gold/Silver Project 290.0 10.72

Epithermal

Santa Rita Silver/Lead/Zinc Project 230.0 24.72


Coricancha Gold Mine216.8 40.23

Veins unclassified

Yauli200.0 67.80


Morococha Silver/Base Metal Mine 194.8 81.66


Azuca Gold/Silver Project 179.1 80.57 Epithermal

Urumalqui Silver/Gold Project 171.0 10.69 Epithermal

Orcopampa Gold/Silver Project 167.0 10.17 Epithermal

Huaron Silver/Base Metal Mine 166.4 116.75 Veins unclassified

Inmaculada Gold/Silver Project 147.4 56.91 Epithermal

Alpamarca 137.0 17.60 Carbonate replacement

Berenguela Silver/Copper Project 126.4 87.75 Epithermal

Quiruvilca Silver/Base Metal Mine 120.5 10.95 Epithermal

� Most of the silver endowment is in Carbonate replacement deposits, porphyries, skarns

� However, epithermal veins are the main source of primary silver production and endowment

In conclusion so far…


production and endowment

� Better grades occur in epithermal and carbonate replacement bodies

� I have not looked at grades over time but its clear that grades are lower than a decade ago

Mining operations & silver projects in Peru


Silver mining operations


� Peru is a leading silverproducer

� 40% of the production comes from primary silver mines

� 60% of the production is byproduct from base metal mines

Silver projects


� 1500 M oz known silverresources in new projects


� Peru’s silver occurrences are associated with the following deposittypes:� Carbonate replacement deposits and skarns� Low sulfidation epithermal vein deposits� High sulfidation epithermal deposits

Final comments

� High sulfidation epithermal deposits� Porphyry copper deposits

� Associated with tertiary vulcanism and intrusions in carbonate country rocks

silver deposits of peru - proexplo.com.pe 20/sala … · silver deposits of peru 45,000 m oz ag...

Documents