Colombia-based Mineros has put a US$161 million development cost on a standalone gold-silver-zinc operation near its existing Hemco mines in the Bonanza-Siuna-Rosita Mining Triangle district in north-eastern Nicaragua.
The company’s prefeasibility study outlined positive economics for Porvenir, near its Panama and Pioneer underground mines, which would add average annual production over its projected nine-year life of 56,700 ounces gold, 112,300oz silver and 38.5 million pounds of zinc, from 2027.
“The advance of the Porvenir Project would allow us to extend the life of mine at the Hemco property for eight additional years, allowing us to strengthen our presence in the Bonanza-Siuna-Rosita Mining Triangle district,” said Mineros CEO Andres Restrepo.
Although located on the Hemco property, Mineros said Porvenir was planned to be independent of Panama and Pioneer, with its own mine access, process plant, tailings facilities and other infrastructure.
“Mining and processing operations are planned to commence at a rate of 1000 tonnes per day in 2027, ramping up to 2000tpd beginning in 2029,” the company said.
“Ore will be mined by cut-and-fill stoping and sub-level long-hole stoping. Ore will be processed using cyanidation and a Merrill-Crowe circuit for gold and silver recovery, and a flotation circuit for the recovery of zinc and minor gold to a zinc concentrate.”
Mineros is also looking at stage-two development of Porvenir for average annual production of 60,000oz gold, 119,000oz silver in dore, plus 42Mlb zinc and 2200oz gold in zinc concentrates, between 2029 and 2035.
Mineros says mineralisation at Porvenir remains open laterally and at depth, “representing opportunities for mine life extension”.
The company says it is planning a 6000m diamond drilling program this year, and aiming to improve the current metallurgical model and evaluate the viability of ore sorting.