Name of the Project
Berenguela copper/silver project.

Location
The project is located in the Department of Puno, in south central Peru.

Client
Valor Resources.

Project Description
An independent scoping study has highlighted the positive economics across an array of sensitivities for the Berenguela boasts Joint Ore Reserves Committee- (Jorc-) compliant mineral resources of 21.6-million tonnes grading 0.87% copper and 126.4 g/t silver, at a cutoff of 50 g/t silver. This includes an indicated resource of 15.6-million tonnes grading 0.92% copper and 132.0 g/t silver and an inferred resource of six-million tonnes grading 0.74% copper and 111.7 g/t silver.

The pit shell optimisation of the Berenguela openpit is based on the existing resource model. Production has been envisaged to start with ore extraction from the pit using conventional openpit mining methods. 

This will be followed by crushing, screening and processing at the site to produce copper concentrate containing about 28% copper. 

The copper silver concentrate will be the railed an estimated 400 km to the Port of Matarani.

About 16.9-million tonnes of ore is expected to be extracted over the project’s 11-year life-of-mine (LoM). 

Total concentrate of 427 000 t containing about 119 000 t of copper and 37-million ounces of silver over the LoM is projected.

Jobs to Be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The scoping study estimates total capital costs for the initial development and ramp-up of the facilities, including mining, logistics and associated infrastructure, at about $165-million, which includes a contingency of $33-million.

Duration
The project is expected to take 24 months to complete.

Latest Developments
The results of the scoping study are considered encouraging and have provided Valor with the impetus to start preparatory works to define Jorc-compliant ore reserves and undertake a prefeasibility study (PFS) at the Berenguela project.
The company is preparing the infill drilling programme and the other required preworks before starting the PFS.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Valor Resources, tel +61 8 9200 3467.