San Luis is a 100% owned project, located in the Ancash Department, central Peru. Silver Standard acquired the remaining interest in the project, held by joint venture partner Esperanza Resources Corp., in the third quarter of 2011. The San Luis project is centered on a high-grade, gold-silver vein, the Ayelén vein, which was discovered in 2005.
Highlights of the project include:
- Mineral Reserves: Probable Mineral Reserves of 7.2 million ounces of silver at an average grade of 447.2 g/t and 0.29 million ounces of gold at a grade of 18.06 g/t as at December 31, 2016.
- Mineral Resources: Indicated Mineral Resources of 9.0 million ounces of silver at an average grade of 578.1 g/t and 0.35 million ounces of gold at a grade of 22.40 g/t. Inferred Mineral Resources of 0.2 million ounces of silver at an average grade of 270.1 g/t. Mineral Resources are as at December 31, 2016.
A Feasibility Study on the San Luis project was completed in the second quarter of 2010. Highlights of the Feasibility Study include:
- Mine life: The underground mine planned to exploit the Ayelén vein has an estimated life of 3.5 years.
- Robust project economics: A net present value of $39.2 million (5% discount rate) at base case metal prices and an internal rate of return of 26.5% at base case metal prices (gold price of $800/oz and silver price of $12.50/oz).
- Capital expenditures: $90.4 million (+/- 15%) for a 400 tonne/day underground mine.
Please refer to the technical report entitled "Technical Report for the San Luis Project Feasibility Study, Ancash Department, Peru" dated June 4, 2010, a link to which is provided below.
Mineral Resources are reported inclusive of Mineral Reserves. Please refer to our Mineral Reserves and Resources Table.
This page contains forward-looking statements. Please see the following link: Legal.