Cordero silver project, Mexico

Bulk-tonnage target: Sulphides within a breccia host

Bulk-tonnage target: Sulphides within a breccia host.

Photo by Discovery Silver Corp

31st March 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Cordero silver project.

Chihuahua State, Mexico.

Project Owner/s
Discovery Silver Corp.

Project Description
A prefeasibility study (PFS) has incorporated numerous positive developments, compared with the 2021 preliminary economic assessment (PEA).

The PFS incorporates throughput rates of 25 500 t/d in Phase 1 and 51 000 t/d in Phase 2, about 5% higher than the PEA. This has resulted in average production increasing by 27% a year to 33-million ounces of silver equivalent over an extended mine life of 18 years. The process design has been streamlined, based on the results from the 2022 metallurgical testwork programme, with the co-processing of oxides and sulphides by flotation, consequently allowing for the elimination of the heap-leach circuit.

The project includes the construction of on-site infrastructure, a power transmission line, Phase 1 of the process plant with a nameplate capacity of 9.3-million tonnes a year, all prestripping activities and construction of the tailings storage facility, including the initial starter dam embankment providing two years of tailings storage.

The processing facility will be expanded to 18.6-million tonnes a year in Year 3 and Year 4. This expansion includes the addition of parallel grinding and flotation circuits, additional on-site infrastructure and a major tailings dam lift that is concurrent with plant expansion.

An expansion of the flotation circuit is planned for Year 9. This includes the addition of cleaner flotation cells, a filter and a thickener to accommodate the higher zinc grades in Year 10 and Year 11.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated base case after-tax net present value (NPV), at a 5% discount rate, of $1.2-billion and an internal rate of return (IRP) of 28%, with a payback of 4.2 years.

This compares with an after-tax NPV, at a 5% discount rate, of $1.16-billion and an IRR of 38.2%, with a payback of two years in the
2021 PFS.

Capital Expenditure
Initial capital has increased by 24% from $368-million to $455-million. This will be incurred over a two-year construction period. To expand the plant, capital expenditure of $290-million will be required. The expansion of the flotation circuit is estimated at $31-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Discover Silver, tel +1 416 613 9410 or email

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor



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