Name of the Project
Coricancha gold/silver/lead/zinc/copper underground mine and mill complex.

Location
Coricancha is located about 90 km east of Lima, in Peru.

Client
Great Panther Silver.

Project Description
Production was suspended at Coricancha in 2013 by the previous owner.

The aim of the project is to restart Coricancha using existing processing plant infrastructure and a relatively small portion (about 28%) of the overall existing mineral resources, which are accessible through additional development work from existing mine workings.

The preliminary economic assessment (PEA) contemplates using standard cut-and-fill and reuse mining techniques providing ore to support a target yearly throughput rate of 550 t/d day to the mill. Milling will comprise a conventional flotation and bio-oxidation plant. All processing material will exit the mine through an underground ore pass system ending on the 140 level (the exit portal from the mine to the plant). This run-of-mine material will be hauled by rail to be deposited in an underground bin, which feeds the primary jaw crusher. A ball mill, located near the adit entrance, will be used to grind the material for pumping downhill to the concentrator.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 7.5% discount rate, of $16.6-million and an internal rate of return of 81%.

Value
The project has a capital cost of $32.4-million.

Duration
Not stated.

Latest Developments
Great Panther has decided to advance the project with the initiation of a trial stope and bulk sample programme early in the third quarter of this year to further derisk the project. With the aim of providing confirmation of expectations regarding throughput, grades, and recoveries.

Meanwhile, all permits are in place to restart the project. The company is in discussions with Peruvian authorities regarding modifications to the closure plan for certain legacy tailings facilities of the mine.

Key Contracts and Suppliers
Golder & Associates (PEA).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Great Panther Silver, tel + 604 608 1766 or email info@greatpanther.com.