Name of the Project
Tres Cruces gold oxide project.

Location
Northern Peru.

Project Owner/s
Anacortes Mining.

Project Description
A preliminary economic assessment (PEA) has shown the project to be economically viable and that it should be advanced to the next stage of development.

The project is expected to produce 481 000 oz over the initial seven-year mine life, with average gold production estimated at 68 000 oz/y.

The PEA envisages a conventional openpit mining operation, with heap-leach processing on a 365 d/y, 24/7 operating basis. The process will comprise a crushing circuit, heap-leach pad and recovery plant, as well as water management ponds.

Mined rock from the pit will be transported to the crusher by haul trucks.  

A 6 000 t/d, three-stage crushing plant will reduce run-of-mine to -16 mm. Crusher product will be transported to the heap-leach pad by a conveyor belt and stacker system.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 5% discount rate, of $294.3-million and an internal rate of return, with a payback of 2.1 years.

Capital Expenditure
Preproduction capital expenditure is estimated at $125.2-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
M3 Engineering and Technology, in cooperation with Nilsson Mine Services, Transmin, Advantage Geoservices and Jeffrey Rowe of Surrey (PEA).

Contact Details for Project Information
Anacortes Mining, tel +1 604 684 6730 or email xyz@kincommunications.com.