Name of the Project
Bolivar copper/gold/silver project.

Location
Chihuahua state, in Mexico.

Project Owner/s
Sierra Metals.

Project Description
Bolivar is an operational mine.

A preliminary economic assessment on the expansion of the Bolivar mine has supported Sierra’s organic growth strategy to double production at the mine from 5 000 t/d to 10 000 t/d by 2024, based on the current mineral resource. Indicated resources are estimated at 19.4-million tonnes grading 15.1 g/t silver, 0.21 g/t gold and 0.77% copper. Inferred resources are estimated at 21.4-million tonnes grading 14.2 g/t silver, 0.21 g/t gold and 0.78% copper.

The project has a mine life of 14 years, based on the existing mineral resource estimate, with life-of-mine (LoM) payable copper, gold and silver production estimated at 250 000 t, 150 000 oz and 12.9-million ounces respectively.

The primary mining method at Bolivar is underground room and pillar mining. Previous mining at Bolivar has sometimes used lower-cost and more productive longhole stope mining in areas where the mineralised zones have a steeper dip angle, and the mine plans to undertake a geotechnical assessment programme in 2020/21 to expand the use of longhole mining.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $283-million and an internal rate of return of 27.9%.

Capital Expenditure
Total life-of-mine capital costs are estimated at $317-million.

Planned Start/End Date
Not stated

Latest Developments
Sierra plans to complete a prefeasibility study to further derisk the plan and determine the best way forward.

Key Contracts, Suppliers and Consultants
SRK Consulting (mineral resource estimate).

Contact Details for Project Information
Sierra Metals, tel +1 416 366 7777 or email info@sierrametals.com.