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.
Figure 1. Location of Cerro Colorado Mine
Figure 2. Extent and distribution of Guaxilan’s exploration propertie.
Figure 3. View of an ongoing mining activity on Cerro Colorado mine.
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.