Vereda Guayaquil: Our biggest project

 

Currently, MinexCorp is working on the Vereda Guayaquil project, in the municipality of Pensilvania, department of Caldas (Colombia). The importance of mining in this region is so that many international leading mining companies are settled here. Therefore, with this project the corporation is called to be a wealth generator based on responsible mining (with the environment, citizens and all stakeholders involved in the project). Thus, MinexCorp, with the support of InnovaMinex, plans to create more than 3,500 direct and indirect jobs around this project’s area, having a strong impact, not only on the country’s general economy, but also on the economy and employment of the local rural population. In addition, this mining company, aware of the need to protect the environment, defends green mining. Therefore the techniques it uses in the extraction of minerals produce a minimum impact on the environment.

 

Polymetallic mine

The Vereda Guayaquil mining project, in Colombia, focuses on a polymetallic mine, that is, a deposit where, in addition to gold, other materials of great value, such as silver and zinc, can be found. It consists of three veins: Guayaquil, La Morena and Vizcaya, in which inferred resources of around 900,000 troy ounces of gold are estimated. The initial exploitation target will be carried out on three sections of the Guayaquil vein, with proved reserves of approximately 37,000 Troy ounces.

 

Why this mine?

Everyone knows that Colombia has gone through difficult years due to the presence of guerrillas and paramilitary groups on its territory. However, the recent peace agreement signed with the Government has opened the opportunity to recover mining areas that could not be exploited with guarantees since the 1960s (or even before), due to the presence of these groups outside the rule of law. With the signing of the peace process, these mining titles are now in optimal conditions for a large-scale exploitation. Coinciding with the new climate of peace and the final completion of a previously granted mine license, it has been possible to unlock the exploitation and mining extraction of this particular project

 

Situation of our first exploitation

Geological reports made by independent professionals have determined proved reserves of around 37,000 troy ounces - measurements made on 2.5 Has-. This calculation has been made by analyzing 347 control samples taken only from a small portion of the entire deposit. Within the entire territory - while there necessary explorations to find out the total reserves that really exist are still missing- inferred resources of 892,257 troy ounces of gold have been estimated in the three main veins of the mine. It should be noted that these estimates have never been performed below the altitude of 950 m above sea level. It may very well be that in some parts the gold vein extends deeper, and that other sub-veins and derivations that could also contain some more gold reserves have not been considered.

 

Production costs

In order to start mining, infrastructures are needed, both for the exploration and exploitation periods. However, investments in this aspect can be considerably reduced due to several factors. A processing plant with a capacity of 100/150 tons per day - that can increase up to 500 tons - has been planned. As revenues are obtained during exploitation, the size of the plant will increase and, consequently, the volume of material that can be processed per day. Another factor that will reduce initial investment costs is the decision to leave the development of certain studies, analysis and sampling for later, when gold is already mined and produced. Only making decisions like will allow for the reduction of the initial investment and for this project to generate greater benefits that will be shared with the InnovaMinex community.

 

Security controls

Security, of both individuals and goods, is governed by what has been set out in the Colombian Mining Law, article 97: In the construction of the works and in the execution of the exploitation works, measures must be adopted and maintained, and personnel and material resources must be available to preserve the life and integrity of the persons linked to the company and possibly of third parties, in accordance with current regulations on safety, hygiene and occupational health. As an added value, InnovaMinex will commission, whenever necessary, external audits to comply 100% with these regulations

 

Companies and licenses

Innovaminex participates in MinexCorp, this being the majority shareholder of Minera Guayaquil SAS, the Colombian company that carries out all exploration and exploitation work. This company has the rights over the concession of mining titles IF5-11131, IIB-08003X and IIB-08001, which make up a deposit of slightly over 357 Has.

 

 

Other mining projects

>The VIZCAYA, BOLÍVAR 2, ANTIOQUIA 3, MINEX 7, MINEX 12 and TOLIMA projects total more than 2,500 Has. to be explored. In the next 5 years, the rehabilitation and construction of the guides will start, as well as the beneficiation plant for the extraction of minerals.

 

 

 

Visit our Mines

Please contact our team at [email protected] in order to visit our mines in Colombia. We prepare multiple visits in the year and you will be welcome in the next meeting!

 

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