EC120 includes both El Cajón Mine and Zone 120 deposits. Adjacent to the San Rafael mine, Zone 120 is a silver-copper-gold deposit occurring within skarn-altered limestone along intrusive contacts. The deposit overlaps the San Rafael Upper Zone though with mineralization similar to the El Cajon silver-copper mine. Concurrent development of EC120 is expected.
EC120 has an estimated probable reserve of 2.9 tonnes with a grade of 157g/t silver and 0.42% copper containing 14.5 million ounces silver and 26.5 million pounds of copper. There is an expected 5 year mine life with an average annual metal production of 2.5 million ounces of silver and 4.6 million pounds of copper. Initial capital expenditure of $17 million for concurrent development of the two deposits, as a result of existing infrastructure from San Rafael. Positive pre-feasibility results, plus more drilling in the area are expected to increase the high-grade silver resources.
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