The Maria Cecilia exploration prospect has been identified as the main target for further exploration work by Camino and there has been no drilling on this prospect to date.
Mineral Resource Statement for Toropunto and Emmanuel projects (8.9 US$/t NSR cut-off), Ancash Department, Peru, SRK Consulting (Peru) S.A., December, 2020
- The Mineral Resource estimates are prepared in accordance with the “CIM Definition Standards on Mineral Resources and Mineral Reserves”, adopted by the CIM Council on May 10, 2014, and the “CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines”.
- Mineral Resources have an effective date of 18 December 2020. Fernando Saez, an SRK employee, is the Qualified Person responsible for the review of Mineral Resource estimate.
- There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.
- Mineral resources are reported to 8.90 US$/t NSR cut-off.
- Density was calculated based on each mineralized structure ranging from 2.46 t/m3 to 2.72 t/m3
- Copper price used is US$7,936.64/t (US$3.60/lb.), gold price is US$1,800/oz, silver price is US$21.60/oz, and molybdenum price is US$8.40/lb.
- Toropunto Mineral Resources report for Best Case with revenue factor = 1.0 (Copper price used is US$7,936.64/t (US$3.60/lb), gold price is US$1,800/oz)
- Emmanuel Mineral Resources report for Best Case with revenue factor = 0.8 (Copper price is US$ 6,349/t, gold price is US$1,440/oz)
- Assumed metallurgical recoveries: copper 87%, gold 69%, silver 80.9%, and molybdenum 85.4%
- Assume pit slope of 44°.
- Assumed open pit mining cost of US$1.85/t, plant and administration cost US$8.60/t.
- Toropunto NSR formula: NSR (US$/t = 59.4974%Cu + 0.0132ppmMo+27.8432g/tAu+0.4349g/tAg).
- Toropunto CuEq (%) = %Cu + 0.0002 ppmMo+0.468 g/tAu+0.0073 g/tAg.
- Emmanuel NSR formula: NSR (US$/t) = 54.8916%Cu + 0.0132ppmMo + 27.8432g/t Au + 0.4349g/tAg.
- Emmanuel CuEq (%) = %Cu + 0.0002 ppmMo+0.5072 g/tAu+0.0079 g/tAg.
- Tonnages are reported as metric tonnes rounded to million tonnes, copper, gold, and silver are rounded to two decimal places, molybdenum is rounded to one decimal place.