Name of the Mine
Salares Norte mine.

Location
Salares Norte is located in the Atacama region of northern Chile.

Mine Owner/s
Gold mining firm Gold Fields.

Brief Description
Salares Norte remains one of the highest-quality new gold projects in the industry and is expected to be among the lowest-cost mines globally.

Brief History
Gold Fields discovered Salares Norte in 2011 through a greenfield exploration programme targeting the northern Maricunga belt.

A maiden resource was declared in 2013, followed by a definitive feasibility study in 2018 and environmental approval in 2019. Construction started in 2020, and the first ore was mined in 2022.

Despite challenges posed by high-altitude conditions and winter weather, plant commissioning was completed, and the first gold was successfully poured in 2024.

Primary Metals/Minerals
Gold and silver.

Secondary Metals/Minerals
None stated.

Geology/Mineralisation
Salares Norte is situated in Chile’s Western Cordillera, at the northern edge of the Maricunga belt near the Central Volcanic Zone. The deposit is hosted in Neogene volcanic rocks, including breccias and domes, with mineralisation occurring in a high-sulphidation epithermal system.

The arid, high-altitude setting has preserved volcanic landforms, and the absence of significant post-mineral faulting distinguishes it from the more segmented terrains further south. Gold and silver are associated with vuggy silica and advanced argillic alteration, localised at the contact between andesitic and dacitic flows.

Reserves
As at December 31, 2024, Salares Norte's total mineral reserves stood at 19.82-million tonnes grading 5.4 g/t gold and 72.21 g/t silver.

Resources
As at December 31, 2024, Salares Norte’s indicated mineral resources totalled 2.89-million tonnes grading 2.3 g/t gold and 30.5 g/t silver. Inferred mineral resources amounted to 210 000 t grading 1.5 g/t gold and 8.3 g/t silver.

Type of Mine
Openpit.

Mining Method
Mining is conducted by a contractor using conventional openpit drill, blast, load, and haul methods. Operations are planned over six phases spanning nine years, including two years of prestripping starting in Brecha Principal and ending in Agua Amarga.

Ultimately, the two pits will merge into a single pit owing to the backslope design.

Waste will be deposited in either the south or north waste storage facilities. All ore will be transported to the run-of-mine pad or one of the grade-bin stockpiles south of the pits. An underground mining option is being considered for Agua Amarga, but no decision has been made. As such, mineral resources and reserves for Agua Amarga are based on an openpit scenario.

Major Infrastructure/Equipment
Mining is conducted using conventional openpit methods, with waste storage facilities located to the north and south of the pits. Ore is transported to either a run-of-mine pad or grade-bin stockpiles.

The potential for underground development at Agua Amarga remains under evaluation but is not yet factored into current plans or resource estimates.

Prospects
Salares Norte has the potential to become a multidecade asset if ongoing exploration efforts succeed in identifying additional mineral resources to extend its current 11-year life-of-mine.

Contact Details
Gold Fields
Tel: +511 706 0430 or 0400
Website: https://www.goldfields.com/