As part of the Group’s growth strategy, Solway has partnered with Aterra Capital and acquired the high-quality porphyry copper gold project in Argentina. San Jorge is a mid-sized deposit with NI 43-101 M&I resources of 194 MM tons of ore containing 900,000 tons of contained copper and 1.03 M ounces of gold. It has a straightforward development strategy, low capital, and low operating costs.
San Jorge is a PFS-stage concentrator plant and heap leach copper project that uses conventional open pit mining to extract oxide and enriched and primary sulphide material. In the best case scenario, the proposed SXEW plant, acid plant and heap leach pads would be located in the neighboring San Juan province, whereas the concentrator will be built next to the mine site. The PFS proposed production would be 24,000 tons per year of copper cathodes over a 10-year mine life for the heap leach operation and over 40,000 tons per year of copper and approximately 40,000 ounces of gold contained in the concentrate over a 16-year mine life.
San Jorge offers unique opportunities to expand the size of the existing main deposit through further deep and step-out drilling and through the acquisition of a number of promising neighboring exploration targets.