Oropesa

Jorge Artal
Luis
Página 1 deValencia
29
Octubre 2018
IMPORTANT NOTE This report was prepared exclusively for Baobab
Physical Commodities LLC, by Geoearth SpA. The quality of the
information, conclusions and estimates included here are
consistent with the level of effort involved in the services and based
on: i) information available in the moment of its preparation, ii)
data delivered by external sources, and iii) data assumed,
conditions and qualifications included in this report. The purpose
of this report is to be used only by Baobab Physical Commodities
LLC and is subject to the terms and conditions of your contract with
Geoearth SpA. Any other use of this report by third parties will be
at your own risk.
Contets
1. INTRODUCTION
1.1. Introduction-------------------------------------------------------------------------------------------------------1
1.2. Location and access---------------------------------------------------------------------------------------------1
1.3. Scope---------------------------------------------------------------------------------------------------------------2
2. DISTRICT GEOLOGY---------------------------------------------------------------------------------------------------2
3. MINE GEOLOGY--------------------------------------------------------------------------------------------------------4
4. MINING ENGINEERING-----------------------------------------------------------------------------------------------6
5. CONCLUTIONS---------------------------------------------------------------------------------------------------------11
6. RECOMMENDATIONS -----------------------------------------------------------------------------------------------12
ANEXOS
Anexo 1-------------------------------------------------------------------------------------------------------------13
1. INTRODUCTION
1.1. Introductión
Jorge Artal ( MAusIMM 230563), through Geoearth SpA was hired by the
company Baobab Physical Commodities LLC with the purpose of
making a technical visit to the Oropesa, to study the geological potential
they have and, how much mineral can be extracted monthly in the
time.
Oropesa, gold mine, is located in the vicinity of Andacollo Oro and

Carmen de Andacollo, near the town of Andacollo in the Coquimbo
Region.
1.2. Location and Access
The mines visited are located in the III and IV Region of Chile. Oropesa is
located in the IV Region at 61Km from the city of La Serena and its access
is through the D-51 route, which connects the cities of La Serena with
Andacollo, from there it travels approximately 2 km on the D-447 route.,
where you take a fork to the SE that leads to the coordinates 6.650.125
N and 301.134 E, where you can find Oropesa mine.Fig 1.
Figure 1. Oropesa mine location..
Octubre 2018 P á g i n a 1 | 29
1.3. Scope
The scope of the work is to determine the type of mineral deposit, the
geological potencial and what production can be obtained monthly and
for how long. In addition, a program Will be delivered with those activities
that must be carriend out in order to fulfill the production over time.
2. DISTRICT GEOLOGY
The geology of the district (Fig2) consists largely of the volcanic–

volcaniclastic Quebrada Marquesa Formation, of Barremian–Albian age. The
stratigraphy of this formation at Andacollo is shown in Table 1.
The Cerro Toro unit rests on top of the volcaniclastic facies of the Arqueros
Formation (Auterivian– Barremian). The Quebrada Marquesa rocks were
extensively block-faulted and tilted by at least two sets of normal faults—
northwest (early) and north–south (late). These two sets correspond to
regional directions, and Middle Cretaceous and Tertiary ages, respectively,
can be assigned to them.
The Quebrada Marquesa Formation is intruded by a middle Cretaceous

batholith varying in composition from diorite to tonalite (Reyes,
Geoearth SpA , www. Geoearth.cl . Celular +56 9 42938337
1991).Intrusions related to the batholith include dikes, sills, and stocks, the
latter well exemplified by the presence of the Andacollo porphyry (98 a 104
Ma, whole-rock Kl Ar ages, Reyes, 1991) of granodiorite-tonalite composition
(Llaumet, 1983).
Dikes and laccoliths are increasingly abundant to the east of the Andacollo
fault (Pichilingo and Carbonica units), where according to Muller (1986) the
highest intrusion levels were achieved (some 400 m above the Andacollo
porphyry level).
Oropesa
3
3. MINES GEOLOGY
The Oropesa mine is constituted by a set of three veins of 30 to 80 cm

thickness, with average grades of 2 to 3 gr/ton and with total visible length
in open it of 160 m and in surface a length of 300 m, whose main course is
N40 ° W with inclinations varying from subvertival to 85 ° W. In one of the veins
that appear in the pit there is a vein of 10 cm of 5.26gr/ton (samples
analyzed in the laboratory Actlabs), Fig 3. The veins sampled in the
underground gave results of lower grades of gold than on the Surface, Fig 4.
The rocks where the gold deposit is located correspond to andesites,

volcanic breccias, intruded by granodioritic dickes.
Figure 3. Grade sampled in veins of the open pit.
Figure 4. Grade sampled in veins of the underground.
In Oropesa, mineralization occurs in marginal fractures in the Carmen de

Andacollo porphyry system .
This type of mineralization has been associated, marginally, with the

porphyric systems. In fact, within the facet of the propilitic alteration of some
of the systems, the presence of radial fractures in the porphyric body is
observed, which occur gold and pyrite, with grade. This is the type of gold
mineralization that will be understood as part of the porphyric system. These
fractures are filled with limonites, in some cases abundant iron and barite
and quartz are observed sporadically.
His age would possibly be Lower Upper Tertiary Cretaceo

In the satellite image of figure 5, it is observed that the sector has geological
potential, since the gold grade obtained in Oropesa is not high, there are
several veins that intersect each other and could possibly generate larger
bodies and grades. Based on this hypothesis, it is important to study the
sector and determine and execute some drilling to guarantee greater and
better resources.
Figure 5, Satelial Imagen, with a lote of veins
4. MINING ENGINEERING
The deposit is composed of a system of parallel structures with gold content

and which has a length of 500 m, of which about 200 m outcrops to the
surface.
The average width of the structures is 1.0 m. and depth of 100 m, which varies
depending on the topography of the sector. If we consider three veins and
the geometry of a structure with the following characteristics, we obtain the
following:
Tonnes calculation for one vein with 75% recovery in mine
Deposit Open Pit Underground Total

Length 200,0 300,0 500,0 m
Width 1,0 1,0 1,0 m
High 30,0 70,0 100,0 m
Mining Recovery 75% 75% 75%
Volume 2.250 15.750 18.000 m3
Tonnes 4.000 33.000 37.000 ton
As the grade greater than 2.5 gr / ton are given in veinlets of 10 to 15 cm,
we will assume that of 75% of the material extracted from the mine, only
45% would be at an average of 3.0 gr / ton. Therefore, the tonnage of the
three veins to be exploited would be 49.950 ton.:
Recoverable Veins Open Pit Underground Total

1,0 4.000 33.000 37.000 ton
3,0 12.000 99.000 111.000 ton
45,00% 5.400 44.550 49.950 ton
And in onza would be:
Base Grade Au 3,0 g/ton

Plant Recovery 85%
Au Recovered 4.090,0 oz
If we consider an Au price of 1200 USD / oz and that the ounce payable is

62%, we obtain that the size of the business is:
Oz pay 62%
Price Au 1.200,0 USD/oz
Income 3.042.960,0 USD
Considering an estimated longitudinal profile, we can deduce that the

upper part can be exploited by Open Pit (30 m high) and the lower part is
exploited by underground mining (70 m high), it is represented in the
following figure 6.
Figure 6. Oropesa underground and open pit
The access road to the mine requires repair and periodic maintenance in
a length of 1,000 m, basically putting a folder of stabilized, compacted and
matched.
Exploitation of Mines
The exploitation of the mine has two possibilities that can be carried out
simultaneously, which we will analyze below:
Open Pit
The operation by open pit can be carried out without major complications,
accessing bench by contour lines. It is recommended that the height of the
bench be 3.0 m, which allows the use of the loading and transport
equipment available.Fig 7.
Dilution is a point to consider, which can affect the viability of the project.
For these types of deposits the RWO (Relation of waste and ore)should not
exceed the ratio of 10: 1, in this analysis we will consider an RWO of 5: 1.
Figure 7. Open pit desing
Each bench is operated sequentially, extracting the ore and waste

separately, the control of operations is essential. It will generate 36,000 tons
of waste, which must be deposited in a place to be defined within the
property.
According to what has been discussed, for the unit operations, the leasing
service will be hired, such as:
• Drilling and Blasting.
The contractor provides drilling equipment, compressors and mobile
powder magazine, since it has the corresponding permits. As well as
skilled labor.
• Carrying and Transportation.

The contractor provides loading equipment (Excavator with inverted
bucket) and trucks of 10 m3.
• General services.
The values of the contracts have not yet been defined, but by
references of operations of this type we can infer the following total
costs:
✓ Mineral cost equal to 10 USD/ ton

✓ Waste cost equal to 1 USD/ ton
✓ Cost of mineral transport to plant is 15 USD/ton
Therefore, if the RMO is 5: 1, the Mina cost will be 14.5 USD/ton in the Open
Pit operation.
Underground
This exploitation will be carried out through the development of levels by

the structures and which will be connected from the surface through
access galleries. All these tasks have a section of 4.0 m2.Fig 8.
Figure 8 Underground desing
Once the exploitation galleries are developed, raise are built every 25 m.
The section of the chimneys will depend on the width of the structure as
shown in the figure 9. These tasks generate a block of 25 x 25 m2, which will
be exploited in a descending manner, with cuts of 1.5 m.
Figure 9. Exploitation gallery
The unit operations will be through a service contract, which will provide
labor, drilling equipment (hand equipment), loading and transport
(recommended LHD equipment of 2 and d3) to extract the ore and the
waste surface. In addition, it must provide water and compressed air
services.
The cost of the estimated underground operation will be 40 USD/ton.
Production plan
The proposed production plan considers 3 years to extract the 49.950 tons
available considered for this analysis and that we detail below:
Mine Q_01 Q_02 S_01 Y_02 Y_03 Total

Open Pit 1.500 2.000 1.900 5.400
Underground 2.500 3.500 4.500 17.400 16.650 44.550
4.000 5.500 6.400 17.400 16.650 49.950
Estimated Cash Flow
If we manage to reduce the cost of undergroud from US $ 40 to US $ 30

and assume that we can be selective and achieve 45% of the total mineral
at a rate of 3.0 gr / ton, the possible cash flow would be:
Data Unit Y_00 Y_01 Y_02 Y_03 Total

Tonnes ton 17.500 18.400 14.050 49.950
Grade Au g/ton 3,0 3,0 3,0 3,0
Oz pay oz 1.348 1.418 1.082 3.848
Price Au USD/oz 1.200 1.200 1.200 1.200
Revenue USD 1.617.000 1.701.000 1.298.000 4.617.000
investment USD 200.000 200.000
Open Pit USD 90.000 30.000 0 120.000
Underground USD 345.000 492.000 421.500 1.258.500
Plant USD 514.150 540.592 412.789 1.467.531
Shipment plant USD 257.000 270.000 206.000 733.000
Shipment mine USD 1.286.000 1.286.000
Others USD 500.000 500.000 500.000 1.500.000
Cost USD 200.000 2.492.150 1.332.592 1.040.289 5.065.031
Profit USD -200.000 -875.150 368.408 257.711 -448.031
VAN(@ 10%) USD -452.272

TIR -0,3
For this cash Flow we consideration:
• The cost of process plant is 29,38 USD/ton.

• All the analyzes are preliminary and will be subject to the update of the
required information.
• With the information available it is risky to define a cash flow and of
course the size of the business.
5. CONCLUTION
Considering the background obtained during the visit to the study areas,
Oropesa, it can be concluded that both areas have an economic interest.
Oropesa has a set of gold veins that intersect each other and that together
could deliver gold ore resources to be exploited, however, when doing a
cash flow analysis assuming that, one can be selective and consider an
average grade of 3 gr / ton, as indicated by the analysis of grades made in
Annex 1, the results are marginal.
6. RECOMMENDATIONS
In Oropesa it is recommended not to start a mining operation without first

doing a couple of drill holes that help us determine if along these three
veins the grades improve and have a certain continuity that allow us to
establish measured resources to take them to reserve. This
recommendation is based on the fact that all the analyzed samples do not
produce grades greater than 3 gr / ton
If we assume a DDH campaign of 1000m, this could have an approximate

cost of US $ 285,000, including drilling, chemical analysis, geology,
topography, etc.
ANNEXED 1
Activation Labs
INFORME DE ANALISIS
CL18-8799
CLIENTE: JORGE ARTAL

Famnor Velasco 85 Of.804
Santiago
PROYECTO: S/N
NOMBRE LOTE: S/N
SOLICITADO POR: Jorge Artal
FECHA DE RECEPCIÓN: Martes, 09 de Octubre de 2018
TIPO DE MUESTRA(S): Roca
CANTIDAD DE MUESTRA(S): 15
FECHA DE REPORTE: Martes, 16 de Octubre de 2018
INSTRUCCIONES DE ANALISIS: Code 1A2-30 Au FA-AAS 30g
Code 7AAS-01 Cu(%) 4ACID-AAS 1g/100ml Metales Base
Code Cu (ins) Cu Insoluble
Code Cu (s) Cu Soluble H2SO4
FACTURAR A: JORGE ARTAL
Santiago
TOTAL DE PAGINAS: 3 (Incluida esta)
Alex Caniguante
Gerente Técnico Laboratorio Minerales
Este informe de análisis no debe ser reproducido, excepto en su totalidad, sin autorización de Activation Laboratorios Ltda. De no recibir
instrucciones sus rechazos de 10# ty serán descartados después de 30 días y sus pulpas 150# ty después de 60 días del envío de este informe. El
descarte, devolución y/o almacenaje será costo del cliente.El reporte emitido es representativo solo del material recibido para el análisis.
Page 2 of 3
INFORME DE ANALISIS CL18-8799
RESULTADOS
Analyte Au Ag Cu Cu (s) Cu (ins)

Method Type FA-AAS ICP-OES 4ACID-AAS LIX-AAS -
Units ppm ppm % % %
Limit 0.01 0.001 0.001
1 OR-001 2.65
2 OR-002 5.26
3 OR-003 0.99
4 OR-004 0.77
5 OR-005 0.56
6 OR-006 0.59
7 OR-007 0.05
8 OR-008 2.23
Este informe de análisis no debe ser reproducido, excepto en su totalidad, sin autorización de Activation
Laboratorios Ltda. De no recibir instrucciones sus rechazos de 10# ty serán descartados después de 30
días y sus pulpas 150# ty después de 60 días del envío de este informe. El descarte, devolución y/o
almacenaje será costo del cliente.El reporte emitido es representativo solo del material recibido para el
análisis.
Page 3 of 3
Q.C.
Analyte Au Cu Cu (s)
Method Type FA-AAS 4ACID-AAS LIX-AAS
Units ppm % %
Limit 0.01 0.001 0.001
OREAS 901 meas 0.086

OREAS 901 cert 0.083
CDN-CM-24 (4ACID) meas 0.357
CDN-CM-24 (4ACID) cert 0.365
CDN-CM-38 meas 0.96
CDN-CM-38 cert 0.94
OR-004 original 0.77
OR-004 pulp duplicate 0.79
FR-001 original 0.862
FR-001 pulp duplicate 0.877
FR-004 original 5.314
FR-004 pulp duplicate 5.314
bk < 0.01
bk < 0.001
bk 0.001
Activation Labs
INFORME DE ANALISIS
CL18-8799
CLIENTE: JORGE ARTAL

Santiago
PROYECTO: S/N
NOMBRE LOTE: S/N
SOLICITADO POR: Jorge Artal
FECHA DE RECEPCIÓN: October-09-18
TIPO DE MUESTRA(S): Roca
CANTIDAD DE MUESTRA(S): 15
FECHA DE REPORTE: October-19-18
INSTRUCCIONES DE ANALISIS: Code 1F2 Digestion total 4 acidos ICP-OES (optico)
FACTURAR A: JORGE ARTAL
Santiago
TOTAL DE PAGINAS: 11 (Incluida esta)
Alex Caniguante
Gerente Técnico Laboratorio Minerales
Page 2 of 11
RESULTADOS
Analyte Ag Al As Ba Be Bi Ca Cd
Method Type ICP-OES ICP-OES ICP-OES ICP-OES ICP-OES ICP-OES ICP-OES ICP-OES
Units ppm % ppm ppm ppm ppm % ppm
Limit 0.3 0.01 3 7 1 2 0.01 0.3
1 OR-001 < 0.3 6.36 14 397 <1 <2 0.36 < 0.3
2 OR-002 0.5 5.80 44 284 <1 4 0.23 < 0.3
3 OR-003 0.5 7.30 13 454 <1 <2 0.24 < 0.3
4 OR-004 < 0.3 6.36 7 258 <1 <2 0.42 < 0.3
5 OR-005 1.1 6.83 53 74 <1 <2 4.10 < 0.3
6 OR-006 0.4 6.46 9 44 <1 <2 3.89 < 0.3
7 OR-007 < 0.3 6.54 5 74 <1 <2 0.97 < 0.3
8 OR-008 0.5 6.51 15 312 <1 <2 0.39 < 0.3
9
10
11
12
13
14
15
Este informe de análisis no debe ser reproducido, excepto en su totalidad, sin autorización de Activation Laboratorios
Ltda. De no recibir instrucciones sus rechazos de 10# ty serán descartados después de 30 días y sus pulpas 150# ty
después de 60 días del envío de este informe. El descarte, devolución y/o almacenaje será costo del cliente.El reporte
Page 3 of 11
RESULTADOS
Analyte Co Cr Cu Fe Ga Hg K Li
Units ppm ppm ppm % ppm ppm % ppm
Limit 1 1 1 0.01 1 1 0.01 1
1 OR-001 15 48 282 4.97 14 <1 1.54 8

2 OR-002 7 51 395 14.54 13 <1 0.83 7
3 OR-003 7 18 104 10.07 17 <1 0.99 3
4 OR-004 36 22 142 6.05 15 <1 0.10 11
5 OR-005 7 24 236 3.56 9 <1 0.55 7
6 OR-006 18 21 56 5.12 10 <1 0.42 5
7 OR-007 22 30 372 4.55 13 <1 1.92 7
8 OR-008 9 12 270 5.86 12 <1 0.64 7
emitido es representativo solo del material recibido para el análisis.
Page 5 of 11
RESULTADOS
Analyte S Sc Sr Te Ti Tl U V
Units % ppm ppm ppm % ppm ppm ppm
Limit 0.01 4 1 2 0.01 5 10 2
1 OR-001 0.07 41 49 <2 0.34 <5 < 10 298

2 OR-002 0.54 27 127 8 0.53 <5 < 10 387
3 OR-003 0.25 20 127 4 0.51 <5 < 10 336
4 OR-004 0.01 15 89 7 0.35 <5 < 10 185
5 OR-005 3.06 20 90 5 0.46 <5 < 10 194
6 OR-006 3.90 15 106 3 0.36 <5 < 10 179
7 OR-007 2.09 14 144 3 0.30 <5 < 10 131
8 OR-008 0.13 16 96 4 0.40 <5 < 10 218
emitido es representativo solo del material recibido para el análisis.
Page 6 of 11
RESULTADOS
Analyte W Y Zn Zr
Method Type ICP-OES ICP-OES ICP-OES ICP-OES
Units ppm ppm ppm ppm
Limit 5 1 1 5
1 OR-001 <5 6 49 33
2 OR-002 10 5 25 51
3 OR-003 8 5 40 56
4 OR-004 <5 7 171 64
5 OR-005 7 9 27 47
6 OR-006 5 10 35 69
7 OR-007 <5 7 70 38
8 OR-008 8 4 38 42
Page 7 of 11
Q.C.
Analyte Ag Al As Ba Be Bi Ca Cd
Units ppm % ppm ppm ppm ppm % ppm
Limit 0.3 0.01 3 7 1 2 0.01 0.3
GXR-4 meas 3.8 6.09 92 151 3 9 1.18 0.5

GXR-4 cert 4.0 7.20 98 1640 2 19 1.01 0.9
OREAS 13b meas 1.1 7.86 41 205 2 <2 6.00 < 0.3
OREAS 13b cert 0.9 57
GXR-6 meas 0.5 12.68 238 > 1000 1 <2 0.26 < 0.3
GXR-6 cert 1.3 17.70 330 1300 1 0 0.18 1.0
DNC-1a meas < 0.3 8.69 <3 236 <1 <2 8.27 < 0.3
DNC-1a cert 118
GXR-1 meas 33.7 1.92 360 819 1 1018 0.96 1.7
GXR-1 cert 31.0 3.52 427 750 1 1380 0.96 3.3
FR-005 original 3.6 2.24 1199 53 <1 <2 2.84 < 0.3
FR-005 pulp duplicate 3.4 2.22 1202 50 <1 <2 2.83 < 0.3
bk < 0.3 < 0.01 <3 <7 <1 <2 < 0.01 < 0.3
Page 8 of 11
Q.C.
Analyte Co Cr Cu Fe Ga Hg K Li
Units ppm ppm ppm % ppm ppm % ppm
Limit 1 1 1 0.01 1 1 0.01 1
GXR-4 meas 16 57 7060 3.59 15 <1 3.42 11

GXR-4 cert 15 64 6520 3.09 20 0 4.01 11
OREAS 13b meas 81 8386 2701 9.82 16 <1 2.21 18
OREAS 13b cert 75 8650 2300
GXR-6 meas 15 62 80 6.27 29 <1 1.65 39
GXR-6 cert 14 96 66 5.58 35 0 1.87 32
DNC-1a meas 57 181 111 7.79 10 <1 0.21 5
DNC-1a cert 57 270 100 5
GXR-1 meas 7 15 1271 27.18 14 5 0.12 9
GXR-1 cert 8 12 1110 23.60 14 4 0.05 8
FR-005 original 141 46 7906 15.38 6 9 0.44 1
FR-005 pulp duplicate 143 41 7463 15.48 6 7 0.44 1
bk <1 <1 <1 < 0.01 <1 <1 < 0.01 <1
Page 9 of 11
Q.C.
Analyte Mg Mn Mo Na Ni P Pb Sb
Units % ppm ppm % ppm % ppm ppm
Limit 0.01 1 1 0.01 1 0.001 3 5
GXR-4 meas 1.90 159 320 0.46 49 0.140 61 5

GXR-4 cert 1.66 155 310 0.56 42 0.120 52 5
OREAS 13b meas 3.21 1235 12 1.44 2425 0.185 24 <5
OREAS 13b cert 9 2247 0.189
GXR-6 meas 0.72 1046 <1 0.10 30 0.038 92 <5
GXR-6 cert 0.61 1007 2 0.10 27 0.035 101 4
DNC-1a meas 6.26 1076 <1 1.21 278 0.027 10 <5
DNC-1a cert 247 1
GXR-1 meas 0.23 915 15 0.07 47 0.062 709 18
GXR-1 cert 0.22 852 18 0.05 41 0.065 730 122
FR-005 original 0.46 765 11 0.17 129 0.703 8 123
FR-005 pulp duplicate 0.45 752 11 0.16 129 0.709 14 114
bk < 0.01 <1 <1 < 0.01 <1 < 0.001 <3 <5
Page 10 of 11
Q.C.
Analyte S Sc Sr Te Ti Tl U V
Units % ppm ppm ppm % ppm ppm ppm
Limit 0.01 4 1 2 0.01 5 10 2
GXR-4 meas 1.98 9 237 <2 0.32 <5 < 10 98

GXR-4 cert 1.77 8 221 1 3 6 87
OREAS 13b meas 1.32 28 536 <2 0.72 <5 < 10 334
OREAS 13b cert 1.20
GXR-6 meas 0.03 28 50 <2 0.38 <5 < 10 171
GXR-6 cert 0.02 28 35 0 2 2 186
DNC-1a meas 0.07 32 142 9 0.30 <5 < 10 152
DNC-1a cert 31 144 148
GXR-1 meas 0.273 <4 312 11 0.03 <5 37 93
GXR-1 cert 0.257 2 275 13 0 35 80
FR-005 original 0.16 10 52 <2 0.12 <5 < 10 280
FR-005 pulp duplicate 0.16 9 51 <2 0.13 <5 10 282
bk < 0.01 <4 <1 <2 < 0.01 <5 < 10 <2
Laboratorios Ltda. De no recibir instrucciones sus rechazos de 10# ty serán descartados después de 30 días y
sus pulpas 150# ty después de 60 días del envío de este informe. El descarte, devolución y/o almacenaje será
costo del cliente.El reporte emitido es representativo solo del material recibido para el análisis.
Page 11 of 11
Q.C.
Analyte W Y Zn Zr
Method Type ICP-OES ICP-OES ICP-OES ICP-OES
Units ppm ppm ppm ppm
Limit 5 1 1 5
GXR-4 meas 43 13 77 42
GXR-4 cert 31 14 73 186
OREAS 13b meas <5 19 127 74
OREAS 13b cert 133
GXR-6 meas <5 11 134 85
GXR-6 cert 2 14 118 110
DNC-1a meas <5 14 63 39
DNC-1a cert 18 70 38
GXR-1 meas 173 26 805 26
GXR-1 cert 164 32 760 38
FR-005 original <5 35 114 15
FR-005 pulp duplicate <5 35 111 14
bk <5 <1 <1 <5
Laboratorios Ltda. De no recibir instrucciones sus rechazos de 10# ty serán descartados después de 30 días y
sus pulpas 150# ty después de 60 días del envío de este informe. El descarte, devolución y/o almacenaje será
costo del cliente.El reporte emitido es representativo solo del material recibido para el análisis

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Jorge Artal

Oropesa, gold mine, is located in the vicinity of Andacollo Oro and

1.2. Location and Access

Figure 1. Oropesa mine location..

The geology of the district (Fig2) consists largely of the volcanic–

stratigraphy of this formation at Andacollo is shown in Table 1.

The Quebrada Marquesa Formation is intruded by a middle Cretaceous

The Oropesa mine is constituted by a set of three veins of 30 to 80 cm

The rocks where the gold deposit is located correspond to andesites,

Figure 3. Grade sampled in veins of the open pit.

In Oropesa, mineralization occurs in marginal fractures in the Carmen de

This type of mineralization has been associated, marginally, with the

His age would possibly be Lower Upper Tertiary Cretaceo

The deposit is composed of a system of parallel structures with gold content

Tonnes calculation for one vein with 75% recovery in mine

Deposit Open Pit Underground Total

Recoverable Veins Open Pit Underground Total

And in onza would be:

Base Grade Au 3,0 g/ton

If we consider an Au price of 1200 USD / oz and that the ounce payable is

Considering an estimated longitudinal profile, we can deduce that the

Figure 6. Oropesa underground and open pit

Figure 7. Open pit desing

Each bench is operated sequentially, extracting the ore and waste

• Carrying and Transportation.

✓ Mineral cost equal to 10 USD/ ton

This exploitation will be carried out through the development of levels by

Figure 8 Underground desing

Figure 9. Exploitation gallery

The cost of the estimated underground operation will be 40 USD/ton.

Mine Q_01 Q_02 S_01 Y_02 Y_03 Total

If we manage to reduce the cost of undergroud from US $ 40 to US $ 30

Data Unit Y_00 Y_01 Y_02 Y_03 Total

Profit USD -200.000 -875.150 368.408 257.711 -448.031

VAN(@ 10%) USD -452.272

For this cash Flow we consideration:

• The cost of process plant is 29,38 USD/ton.

In Oropesa it is recommended not to start a mining operation without first

If we assume a DDH campaign of 1000m, this could have an approximate

CLIENTE: JORGE ARTAL

Analyte Au Ag Cu Cu (s) Cu (ins)

OREAS 901 meas 0.086

CLIENTE: JORGE ARTAL

1 OR-001 15 48 282 4.97 14 <1 1.54 8

1 OR-001 0.07 41 49 <2 0.34 <5 < 10 298

GXR-4 meas 3.8 6.09 92 151 3 9 1.18 0.5

GXR-4 meas 16 57 7060 3.59 15 <1 3.42 11

GXR-4 meas 1.90 159 320 0.46 49 0.140 61 5

GXR-4 meas 1.98 9 237 <2 0.32 <5 < 10 98

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