Presentation

Guaxilan, S.A. is a mining asset acquisition made by the Cunico Group and is a fully owned subsidiary. The mining asset is located in Guatemala.

Guaxilan is the owner of several exploitation and exploration tenements in the area Cerro Colorado Mining Project (CCMP), in Guatemala. The exploitation tenement is estimated to contain large quantity of mineable high grade Saprolite Nickel ore. The exploration applications cover a sizable area, containing some potentially promising locations.

 

Guaxilan’s main asset, Cerro Colorado Mine Project (CCMP), is located approximately 100 km from the shipping port, in the department of Zacapa, on the Sierra de Las Minas range. As shown in Fig. 1, the mine is around 4 km from the piling plateau, where ore is loaded into 30 tons trucks to the Santo Tomas de Castilla port. Associated to the CCMP, Guaxilan holds various exploration properties along the Sierra de Las Minas range, which opens the possibility to extent the resources with similar characteristics. Fig. 2 gives an idea about extent and distribution of exploration areas.

Technical Specification

Figure 1. Location of Cerro Colorado Mine

Figure 2. Extent and distribution of Guaxilan’s exploration propertie.

Geology

Guaxilan’s exploration and exploitation targets are located within the Motagua Fault Zone, characterized by a structural control on most of lithological units; it includes an association of ultramafic, metamorphic and sedimentary continental rocks. The ore deposits are located in plateaus on with lithological composition of serpentinized peridotites, probably harzburgites; these have passed through a long history of geological processes of weathering, leaching and enriching processes giving rise to the known high grade nickel lateritic deposits.

Figure 3. View of an ongoing mining activity on Cerro Colorado mine.

Resources

Guaxilan has developed different types and levels of exploration works in order to assess the potential of its nickel ore deposits; from these, it is possible to consider an estimation of identified reserves of around 6 million tons with an average of 1.9% Ni, plus other additional estimated of 1.5 million at 1.7% Ni; volume resources can increase considerably if both cut-off and average grade are lowered, according to economic parameters.