MTV Mineral Reserve Estimate 

Classification Tonnes
Contained Cu
Contained Cu
Don Gabriel Manto
Proven 898 0.80% 7.1 15,653
Probable 4,270 0.82% 34.9 76,941
Total Proven & Probable 5,168 0.81% 42.1 92,815
Papomono Masivo
Proven 2,559 1.51% 38.7 85,319
Probable 508 1.48% 7.5 16,535
Total Proven & Probable 3,067 1.51% 46.2 101,853
Total Proven & Probable 8,235 1.07% 88.3 194,668


The Qualified Persons for the Mineral Reserve estimates are Michael G. Hester, FAusIMM, an IMC employee for the Don Gabriel Manto Mineral Reserves and Alfonso Ovalle, RM CMC, a Wood employee, for the Papomono Masivo mineral reserves estimate. The effective date of the Mineral Reserve estimate is January 1, 2018 for the Don Gabriel Manto and July 1, 2018 for Papomono Masivo. For the open pit mining, all mineral reserves are contained within an optimized pit shell. Mining will use conventional open pit methods and equipment. Direct mining costs are estimated averaging US$2.15/t of material mined and $1.95/t per waste tonne. The overall slope angle was 50°. Minimal dilution and ore loss are incorporated into the block model. For mine planning and mineral reserve estimation a diluted model was constructed. Blocks with less than 30% manto solid contained in them were excluded as lost ore. Blocks with between 30% and 99.9% manto solid contained in them were diluted to full blocks with a dilution grade of 0.1% TCu. For the underground mining, all mineral resources within the cave outline have been converted to probable and proven mineral reserves. This includes low-grade indicated mineral resource and inferred mineral resource assigned zero grade that is treated as dilution. A footprint cut-off 0.40% TCu for the inclined block cave and 0.47% TCu for front caving was used to define the footprint and column heights. An average dilution entry point of 40% of the column height was used. The NSR calculation assumed metal prices of US$2.75/lb Cu. Metallurgical assumptions in the NSR include recoveries of 89.37% for Cu. The recoveries correspond to the chloride leach process, currently implemented in the process plant. Processing costs for material sent to the heap leach are US$9.64/t for underground mining and US$9.73/t for open pit. General and administration costs were assumed as US$0.20/lb Cu and the SX/EW costs were assumed as US$0.19/lb Cu. Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal.


View Technical Report 


See the National Instrument 43-101 technical report entitled Minera Tres Valles Copper Project Salamanca, Coquimbo Region, Chile” with an effective date of October 4, 2018 and dated May 27, 2021 (revised and amended) for complete details, available on the Company’s website at or Sedar profile at