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.

Project Owner/s
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 that will provide 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.

Final saleable products include lead, zinc and copper concentrates, as well as gold/silver doré.

The average production from Coricancha is estimated at 3.1-million silver-equivalent ounces a year over the life-of-mine.

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%.

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

Planned Start/End Date
The development timeline necessary to restart Coricancha and reach full-scale production is expected to be less than one year.

Latest Developments
Great Panther Mining has announced a positive production decision for its Coricancha project, but has said that an actual restart date will be determined only next year.

"The actual restart date is expected in the first half of 2020 and will be aligned with our other mining operations to ensure that the project has the necessary planning and resources in place to optimise operations and profitability,” president and CEO James Bannantine has said.

The positive production decision follows the final results of the trial stope and bulk sample programme, which has confirmed the key operating assumptions for Coricancha contained in the 2018 PEA of the project.

Great Panther has not completed a feasibility study, but has decided to progress to production because of its knowledge of the mine and resource base, the existence of a processing plant facility and low initial capital outlay.

Coricancha will be kept on care and maintenance to allow for additional engineering and operational planning prior to startup.

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.