AMERIGO RESOURCES LTD. NI 43-101 Mineral Resource Estimate Technical Report
Minera Valle Central Operation
Rancagua, Region VI, Chile
Effective Date: February 01, 2022 Issue Date: March 30, 2022
Prepared for:
Amerigo Resources Ltd.
Prepared by:
Global Resource Engineering, Ltd.
Qualified Persons
Hamid Samari, PhD, MMSA 01519QP
Todd Harvey, PhD, PE, SME Registered Member 4144120
Terre Lane, MMSA 01407QP, SME Registered Member 4053005
Larry Breckenridge, PE, Colorado, USA No. 38048
Date and Signature Page
This Technical Report on the Minera Valle Central operation is submitted to Amerigo Resources Ltd. and is effective February 01, 2022.
The Qualified Persons and Responsible Report Sections follow:
Qualified Person | Responsible for Report Sections |
Dr. Hamid Samari | 1.2, 1.3,1.4, 6, 7, 8, 9, 10, 11, 12 |
Dr. Todd Harvey | 1.5, 1.7, 13, and 17 |
Terre Lane | 1.0, 1.1,1.6,1.9,1.10,1.11, 2, 3, 4, 5, 14, 15, 16, 18, 19, 21 through 27 |
Larry Breckenridge | 1.8, 4.4, 18.2, and 20 |
(Signed) "Hamid Samari" _____________________ | _3/30/2022_____ |
Signature Dr. Hamid Samari | Date |
(Signed) "Todd Harvey"_____________________ | _3/30/2022_____ |
Signature Dr. Todd Harvey | Date |
(Signed) "Terre Lane"_____________________ | _3/30/2022_____ |
Signature Terre Lane | Date |
(Signed) "Larry Breckenridge"____________________ | _3/30/2022_____ |
Signature Larry Breckenridge | Date |
3/30/2022
TABLE OF CONTENTS
1.0 | SUMMARY ...................................................................................................................................... 13 |
1.1 | Property Description and Location ......................................................................................... 13 |
1.2 | History ..................................................................................................................................... 14 |
1.3 | Geology Setting and Mineralization ........................................................................................ 14 |
1.4 | Drilling, Sampling and Analysis ............................................................................................... 14 |
1.5 | Mineral Processing and Metallurgical Testing ........................................................................ 15 |
1.6 | Mineral Resource Estimate ..................................................................................................... 16 |
1.7 | Recovery Methods .................................................................................................................. 16 |
1.8 | Environmental Studies and Permits ........................................................................................ 17 |
1.9 | Contracts and Royalties .......................................................................................................... 17 |
1.10 | Interpretation and Conclusions .............................................................................................. 17 |
1.11 | Recommendations .................................................................................................................. 19 |
2.0 | INTRODUCTION .............................................................................................................................. 20 |
2.1 | Terms of Reference ................................................................................................................. 20 |
2.2 | Sources of Information ........................................................................................................... 20 |
2.3 | Qualified Persons and Personal Inspection ............................................................................ 21 |
2.4 | Units ........................................................................................................................................ 22 |
2.5 | Cautionary Statement Regarding Forward-Looking Statements ............................................ 22 |
3.0 | RELIANCE ON OTHER EXPERTS ....................................................................................................... 25 |
4.0 | PROPERTY LOCATION AND DESCRIPTION ...................................................................................... 26 |
4.1 | Property Location .................................................................................................................... 26 |
4.2 | Property Overview .................................................................................................................. 27 |
4.3 | Royalties .................................................................................................................................. 29 |
4.4 | Permits .................................................................................................................................... 29 |
5.0 | ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY .............. 31 |
5.1 | Accessibility ............................................................................................................................. 31 |
5.2 | Climate .................................................................................................................................... 32 |
5.3 | Local Resources and Infrastructure ........................................................................................ 32 |
5.4 | Physiography ........................................................................................................................... 32 |
6.0 | HISTORY ......................................................................................................................................... 34 |
6.1 | Chronological Summary .......................................................................................................... 34 |
6.2 | El Teniente's Tailings Production History ................................................................................ 35 |
6.3 | MVC's Production History ....................................................................................................... 36 |
7.0 | GEOLOGIC SETTING AND MINERALIZATION .................................................................................. 39 |
7.1 | Source of Tailings .................................................................................................................... 39 |
7.2 | Lithology and Mineralogy ....................................................................................................... 40 |
8.0 | DEPOSIT TYPES ............................................................................................................................... 43 |
9.0 | EXPLORATION ................................................................................................................................ 44 |
3/30/2022 |
10.0 DRILLING ........................................................................................................................................ 45
10.1 Cauquenes Drilling .................................................................................................................. 45
10.1.1 CIMM 1983 Campaign ..................................................................................................... 46
10.1.2 MVC 2011 Campaign ....................................................................................................... 47
10.1.3 MVC 2012 Campaign ....................................................................................................... 48
10.1.4 MVC 2015 Campaign ....................................................................................................... 50
10.1.5 MVC 2016 Campaign ....................................................................................................... 50
10.1.6 MVC 2017 Campaign ....................................................................................................... 51
10.1.7 MVC 2018 Campaign ....................................................................................................... 53
10.1.8 MVC 2019 Campaign ....................................................................................................... 54
10.1.9 MVC 2021 Campaign ....................................................................................................... 55
11.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY ...................................................................... 57
11.1 Standard operating practices .................................................................................................. 57
11.1.1 Sample Recovery ............................................................................................................. 57
11.1.2 Sample Reduction and Preparation Techniques ............................................................. 58
11.1.3 Quality of Assay Data and Laboratory Tests ................................................................... 58
11.1.4 Verification of Sampling and Tests .................................................................................. 59
11.1.5 Data and Sample Backup Files ........................................................................................ 59
11.2 QP's Opinion on the Adequacy ............................................................................................... 59
12.0 DATA VERIFICATION ....................................................................................................................... 60
13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ................................................................ 61
13.1 Introduction and References .................................................................................................. 61
13.2 Executive Summary And Recommendations .......................................................................... 62
13.3 MVC Plant Performance .......................................................................................................... 65
13.3.1 El Teniente Fresh Tailings ................................................................................................ 65
13.3.2 Cauquenes ....................................................................................................................... 66
13.3.3 Plant Data ........................................................................................................................ 66
13.4 Supporting Test Work and Analysis ........................................................................................ 69
13.4.1 | Patterson and Cooke Audit - July 2020 .......................................................................... 69 |
13.4.1.1 | Laboratory Tests .............................................................................................................. 70 |
13.4.1.2 | Plant Audit Results .......................................................................................................... 72 |
13.4.2 | Base Metallurgical Laboratories Test Work - September 2020 ..................................... 73 |
13.4.2.1 | Mineralogical Assessment of Plant Streams ................................................................... 73 |
13.4.2.2 | Fragmentation Characteristics of the Feed Streams ...................................................... 75 |
13.4.2.3 | Concentrate Quality ........................................................................................................ 76 |
13.4.2.4 | Efficiency of Process ........................................................................................................ 77 |
13.4.2.5 | Metallurgical Testing of Process Streams ....................................................................... 80 |
13.4.2.6 | Gravity Testing ................................................................................................................ 92 |
13.4.3 | AGD Grinding Analysis - September 2020 ...................................................................... 92 |
3/30/2022 | |
13.4.4 | Orway Mineral Consultants Canada Ltd. Regrind Mill Sizing - July 2021 ....................... 93 |
13.4.4.1 | Test Results ..................................................................................................................... 93 |
13.4.4.2 | Proposed Regrind Mills ................................................................................................... 95 |
13.4.4.3 | Proposed Cyclones and Pumps ....................................................................................... 95 |
13.4.4.4 | Regrind Upgrades - Plant Changes ................................................................................. 96 |
13.4.5 | Base Metallurgical Laboratories Test Work - May 2021 ................................................ 96 |
13.4.5.1 | Fines Rougher Flotation .................................................................................................. 96 |
13.4.5.2 | Fines Cleaner Test ........................................................................................................... 97 |
13.4.5.3 | Coarse Rougher Flotation ............................................................................................... 99 |
13.4.5.4 | Cleaner Flotation - Effect of Regrind ............................................................................ 100 |
13.4.5.5 | Copper and Molybdenum Separation ........................................................................... 101 |
13.4.5.6 | Cascade and Cleaner Tail Flotation ............................................................................... 103 |
13.4.5.7 | Grindability Testing ....................................................................................................... 103 |
13.4.6 | Base Metallurgical Laboratories Test Work - October 2021 ........................................ 104 |
13.4.6.1 | Levin Testing ................................................................................................................. 105 |
13.4.6.2 | Dewatering Testing ....................................................................................................... 106 |
14.0 MINERAL RESOURCE ESTIMATE ................................................................................................... 109
14.1 Cauquenes Tailings Deposit .................................................................................................. 109
14.1.1 | Topography and Boundaries ......................................................................................... 109 |
14.1.2 | Drill Hole Database ........................................................................................................ 111 |
14.1.3 | Assay Compositing ........................................................................................................ 112 |
14.1.3.1 | Composite Analysis ....................................................................................................... 112 |
14.1.3.2 | Evaluation of Outliers .................................................................................................... 115 |
14.1.3.3 | Variography ................................................................................................................... 117 |
14.1.4 | Block Model .................................................................................................................. 120 |
14.1.4.1 | Statistical Comparison ................................................................................................... 121 |
14.1.4.2 | Swath Plots .................................................................................................................... 122 |
14.1.4.3 | Block Model Validation ................................................................................................. 124 |
14.1.5 | Resource Classification .................................................................................................. 128 |
14.1.6 | Mineral Resource Statement ........................................................................................ 129 |
14.2 Colihues Tailings Deposit ...................................................................................................... 133
15.0 MINERAL RESERVE ESTIMATES .................................................................................................... 134
16.0 MINING METHODS ....................................................................................................................... 135
16.1 Production Phases ................................................................................................................. 137
17.0 RECOVERY METHODS ................................................................................................................... 141
17.1 Introduction .......................................................................................................................... 141
3/30/2022
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Amerigo Resources Ltd. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2022 18:55:02 UTC.
