Cerro Blanco Project
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The Cerro Blanco project is located in southeast Guatemala approximately 160 km by road from Guatemala City. The project will be developed as an UG mining operation but has potential to be mined as an open pit. It is envisioned to be 1,250 t/d, ramp access, underground gold mine using longhole stoping and drift and fill mining methods. Since 2006, the project has seen over US$170M in investment for the construction of: 2 UG declines from surface; 3.2 km of lateral underground development; 4 ventilations raises; 17 dewatering wells; and significant surface infrastructure including truck shop, warehouse, office facility and water treatment plant.
JDS was retained by Bluestone Resources to carry out a preliminary economic assessment (PEA) of the Cerro Blanco Project. The results indicated a rapid payback, high margin, underground mining project with robust economics in the current gold price environment.
Project highlights include:
- Final project economics generated one month after PEA kick-off.
- 2.5 month total project duration to complete PEA and generate NI 43-101 compliant Technical Report.