Bolañitos is located 10 kilometres northwest of the city of Guanajuato, in Guanajuato state, Mexico’s second-largest historic silver mining district, and covers approximately 2,500 hectares. Bolañitos is accessible by municipal roads, and has good local infrastructure, including power from the state power grid, and readily available supplies, services, and local labour in the nearby city of Guanajuato. The Bolañitos sub-district is characterized by multiple subparallel low-sulphidation epithermal veins typically thousands of metres long, up to 250 metres deep, and ranging from one to 15 metres thick.
Since acquisition, we have discovered seven high-grade silver-gold ore bodies, opened one new mine and completed three plant expansions. There are now two underground mining operations feeding a central, 1,600 tonne-per-day plant to produce bulk silver-gold concentrates. The mine employs approximately 350 people and 190 contractors.
In 2016 Bolañitos produced 1,052,517 million ounces of silver and 30,720 ounces of gold – exceeding guidance due to higher throughput, partially offset by lower recoveries and lower than planned silver grades. Production totalled 3.4 million ounces of silver equivalents. Cash costs at Bolañitos in 2015 were negative $8.37 per ounce of silver, while all-in sustaining costs were negative $4.77 per ounce of silver (both net of gold credits).
Production in 2017 is expected to average 1,100 tpd, primarily from the LL-Asunción and Plateros deposits, and historic mine fill. Sustaining capital at Bolañitos in 2017 is budgeted at $5.7 million. Exploration plans for 2017 include 6,000 metres of drilling for $0.9 million.
|Plant throughput (tonnes/day)||Grades (grams/tonne)||Production (ounces)||Recoveries (%)||Cash costs ($/oz Ag)||AISC ($/oz Ag)||Direct costs ($/tonne)|
Reserves and Resources: Silver
1.3 M oz proven and probable silver reserves
4.1 M oz measured and indicated silver resources
5.7 M ozinferred silver resources
Reserves and Resources: Gold
28,100 oz proven and probable gold reserves
52,400 oz measured and indicated gold resources
84,700 oz inferred gold resources
*For details refer to the complete Reserves and Resources table in the footer below.