Irmin
Supergene Resource EstimateIn July 2014, Indico announced the maiden resource estimate for the supergene portion of the Irmin project (under the previous name "Ocaña") based on 9903 metres of drilling in 57 holes. The technical report for this estimate has been filed on SEDAR and can also be downloaded HERE. Table 1 lists the estimated resources following Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") classification definitions at the cut-off grade of 0.1% recoverable (acid and cyanide soluble) copper. The recoverable copper cut-off, using sequential copper leach analysis, is used because it is a more conservative limit of economically extractable material.
Table 1. Irmin Supergene Resource Estimate
Classification | Millions of Tonnes | Total Cu % | Million Lbs of Cu | Tonnes of Cu |
---|---|---|---|---|
Indicated | 13.7 | 0.46 | 139 | 63,000 |
Inferred | 36.1 | 0.34 | 270 | 122,000 |
Table 2 below summarizes the resource estimate in over a range of recoverable copper (Rec Cu%) cut-off grades.
Table 2. Grade and Tonnages of Indicated1 and Inferred2 Resources by Copper Cut-off Grade
Indicated | Inferred | |||
---|---|---|---|---|
Rec Cu % Cut-off | Cumulative Tonnes (millions) | Tot Cu % | Cumulative Tonnes (millions) | Tot Cu % |
0.10 | 13.7 | 0.46 | 36.1 | 0.34 |
0.20 | 12.7 | 0.47 | 30.0 | 0.39 |
0.30 | 8.2 | 0.52 | 17.1 | 0.44 |
0.40 | 4.2 | 0.61 | 7.1 | 0.52 |
1 An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.
2 An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure.
Recoverable copper cut-off grades are based on sequential copper leach tests on sample pulps by Acme Laboratories in Santiago, Chile. Based on average soluble copper recoveries of 77%, together with sulphuric acid consumption tests that indicate low acid consumption, we believe the supergene mineralization should be amenable to low-cost, SX/EW heap-leach processing. Metallurgical samples (750kg) are now at SGS Laboratories in Arizona, where they will undergo column leach testing under the direction of veteran metallurgist Joseph Keane.
Estimation Methods
The resource estimate was completed by Marek Mroczek, P.Geo. of Mining Plus Canada Consultants Ltd. ("Mining Plus"), an Independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") in accordance with CIM Standards on Mineral Resources and Mineral Reserves. Estimation methods are summarized below and additional details of the estimation methods and procedures will be available in a NI 43-101 technical report to be co-authored and released by Mining Plus, and filed on SEDAR (www.sedar.com) within 45 days from the date of this news release.
The resources estimate is based on results from 9,903 metres of drilling in 57 diamond drillholes. Quality control data generated during the various drill programs conducted at Indico Resources were independently verified by Mining Plus as part of the project review. The resource model consists of a detailed three dimensional deposit model interpreted for cut off 0.1% recoverable copper, different mineralogical zones and lithology. The interpreted three dimensional deposit model was used to estimate total copper and recoverable copper grades. The recoverable copper grade is based on sequential leaching lab analyses and consists of sum cyanide leachable copper and acid soluble copper. All recoverable copper values exceeding total copper were capped to the total copper values. The block model grades were estimated by ordinary kriging in cells measuring 15 x 10 x 6 metres. In total 1,278 assays for total copper and recoverable copper were composited to 872 composites of 2 metre length. The basic statistics analyses showed that capping of high assay values was not necessary.
Supergene Mineralization
The sulphide and oxide supergene mineralization intersected in the first two drill programmes outlined a significant exploration target. Phase 3 drilling then converted this target to the Indicated and Inferred resources described above, with significant potential for expansion to the east. The supergene forms a blanket of varying thickness extending south from the concession boundary to underneath the gravel covered valley south of the main east-west ridge. Under this southern ridge, the supergene blanket is consistently approximately 50 metres thick, dips to the west subparallel to the ridge crest, and has been intersected in holes across an east-west distance of at least 700 metres, across a width of at least 200 metres at the west end, increasing to 400 metres on the east end. Under the central part of the system the blanket averages about 30-45 metres thick and apparently thickens to the east (up to 100 metres) as the slope steepens; however, the eastern extents are covered by up to 40 metres of very weakly mineralized leached material, and the overall grade decreases. The blanket consists of copper oxide and sulphate minerals near the top, grading down into dominantly chalcocite at the base, where it transitions sharply to hypogene chalcopyrite mineralization.
Sequential copper leach tests performed on drill core sample pulps test work confirm the supergene mineralization is amenable to low-cost, acid heap-leaching. Results for these tests are summarized in Table 3. The recoveries average about 77% for those drill intercepts assaying >0.1% soluble copper.
Table 3: Detailed Significant Drill Results from Phase 3 to Date
Hole | From (m) | To (m) | Interval | Cu % | Mo (ppm) | Au g/t | Ag g/t | Zone |
---|---|---|---|---|---|---|---|---|
OCA13DH001 | 0 | 46.8 | 46.8 | 0.388 | 45 | 0.159 | 1.4 | mixed & enriched |
46.8 | 100 | 53.2 | 0.245 | 84 | 0.208 | 1.2 | hypogene | |
OCA13DH002 | 0 | 12 | 12 | 0.187 | 85 | 0.137 | 0.7 | mixed |
OCA13DH003 | 35 | 50 | 15 | 0.211 | 71 | 0.053 | 0.7 | mixed |
50 | 88.8 | 38.8 | 0.186 | 50 | 0.059 | 0.8 | hypogene | |
OCA13DH004 | 10 | 29 | 19 | 0.294 | 284 | 0.091 | 1.2 | mixed |
29 | 73.65 | 44.65 | 0.471 | 207 | 0.131 | 1.5 | hypogene | |
OCA13DH005 | 34.2 | 100.6 | 66.4 | 0.415 | 50 | 0.023 | 1.0 | mixed & enriched |
100.6 | 143.7 | 43.1 | 0.208 | 41 | 0.018 | 0.6 | hypogene | |
OCA13DH006 | 28.35 | 65.4 | 37.05 | 0.348 | 86 | 0.112 | 0.9 | hypogene |
OCA13DH007 | 2 | 70.5 | 68.5 | 0.270 | 82 | 0.026 | 1.5 | mixed |
including | 28 | 70.5 | 42.5 | 0.351 | 85 | 0.019 | 1.2 | mixed |
70.5 | 100.95 | 30.45 | 0.224 | 112 | 0.013 | 1.8 | hypogene | |
OCA13DH008 | 43 | 87.5 | 44.5 | 0.402 | 267 | 0.051 | 2.1 | mixed |
including | 57 | 87.5 | 30.5 | 0.512 | 321 | 0.057 | 2.1 | mixed |
87.5 | 126.8 | 39.3 | 0.291 | 171 | 0.032 | 1.6 | hypogene | |
OCA13DH009 | 48 | 101.2 | 53.2 | 0.162 | 54 | 0.028 | 1.6 | mixed |
OCA13DH010 | 80 | 140 | 60 | 0.364 | 27 | 0.021 | 0.9 | mixed |
including | 88 | 108 | 20 | 0.512 | 37 | 0.027 | 1.0 | mixed |
140 | 179.2 | 39.2 | 0.104 | 28 | 0.015 | 0.7 | hypogene | |
OCA13DH011 | 50 | 169.2 | 119.2 | 0.191 | 51 | 0.021 | 2.1 | mixed |
including | 152 | 169.2 | 17.2 | 0.420 | 46 | 0.021 | 1.1 | mixed |
169.2 | 183.5 | 14.3 | 0.208 | 36 | 0.020 | 1.2 | hypogene | |
OCA13DH012 | 38 | 119.8 | 81.8 | 0.302 | 33 | 0.021 | 1.3 | mixed |
including | 74 | 119.8 | 45.8 | 0.455 | 38 | 0.021 | 1.1 | mixed |
119.8 | 126.2 | 6.4 | 0.228 | 18 | 0.021 | 2.1 | hypogene | |
OCA13DH013 | 16 | 83.7 | 67.7 | 0.293 | 53 | 0.027 | 1.4 | oxide & mixed |
including | 42 | 83.7 | 41.7 | 0.407 | 47 | 0.035 | 1.5 | mixed |
83.7 | 97.25 | 13.55 | 0.178 | 37 | 0.018 | 0.6 | hypogene | |
OCA13DH014 | 33 | 45.75 | 12.75 | 0.245 | 30 | 0.022 | 1.1 | mixed |
45.75 | 64.6 | 18.85 | 0.150 | 29 | 0.019 | 1.1 | hypogene | |
OCA13DH015 | 22.2 | 51.9 | 29.7 | 0.326 | 92 | 0.025 | 1.6 | mixed |
51.9 | 62.2 | 10.3 | 0.164 | 34 | 0.015 | 0.8 | hypogene | |
OCA13DH016 | 17 | 49.4 | 32.4 | 0.364 | 78 | 0.016 | 1.2 | mixed |
49.4 | 59 | 9.6 | 0.165 | 38 | 0.017 | 1.2 | hypogene | |
OCA13DH017 | 38 | 91.2 | 53.2 | 0.435 | 80 | 0.026 | 1.1 | mixed |
OCA13DH018 | 28 | 52 | 24 | 0.457 | 52 | 0.038 | 1.6 | mixed |
52 | 62.15 | 10.15 | 0.295 | 68 | 0.026 | 1.2 | mixed | |
62.15 | 72.2 | 10.05 | 0.312 | 252 | 0.034 | 2.3 | hypogene | |
OCA13DH019 | 5.4 | 52.1 | 46.7 | 0.468 | 66 | 0.042 | 2.1 | mixed |
52.1 | 63.2 | 11.1 | 0.471 | 65 | 0.046 | 2.0 | hypogene | |
OCA13DH020 | 43 | 53 | 10 | 0.279 | 65 | 0.025 | 1.2 | mixed |
53 | 71.8 | 18.8 | 0.187 | 52 | 0.021 | 1.0 | hypogene | |
OCA13DH021 | 50.25 | 88.5 | 38.25 | 0.447 | 37 | 0.021 | 0.8 | mixed |
88.5 | 96.75 | 8.25 | 0.325 | 79 | 0.027 | 1.4 | hypogene | |
OCA13DH022 | 21.1 | 58.35 | 37.25 | 0.346 | 72 | 0.027 | 1.7 | mixed |
58.35 | 72.1 | 13.75 | 0.232 | 61 | 0.017 | 1.6 | hypogene | |
OCA13DH023 | 45 | 55.3 | 10.3 | 0.333 | 38 | 0.028 | 1.2 | oxide & mixed |
55.3 | 66.7 | 11.4 | 0.299 | 43 | 0.025 | 2.2 | hypogene | |
OCA13DH024 | 71.4 | 106.9 | 35.5 | 0.222 | 40 | 0.022 | 1.0 | oxide & mixed |
106.9 | 109.6 | 2.7 | 0.245 | 26 | 0.026 | 1.5 | hypogene | |
OCA13DH025 | 72 | 109.6 | 37.6 | 0.307 | 91 | 0.030 | 1.2 | mixed |
109.6 | 121.7 | 12.1 | 0.171 | 53 | 0.027 | 0.8 | hypogene | |
OCA13DH026 | 28 | 49.5 | 21.5 | 0.773 | 118 | 0.035 | 1.3 | mixed |
49.5 | 55.1 | 5.6 | 0.189 | 47 | 0.030 | 0.9 | hypogene | |
OCA13DH027 | 30.6 | 123.5 | 92.9 | 0.345 | 114 | 0.026 | 1.3 | mixed |
including | 30.6 | 92 | 61.4 | 0.168 | 120 | 0.027 | 1.4 | mixed |
and | 92 | 123.5 | 31.5 | 0.689 | 103 | 0.023 | 1.2 | mixed |
123.5 | 125.6 | 2.1 | 0.131 | 67 | 0.02 | 0.7 | hypogene | |
OCA13DH028 | 35.3 | 71.55 | 36.25 | 0.679 | 70 | 0.027 | 1.3 | mixed |
71.55 | 84.0 | 12.45 | 0.207 | 56 | 0.025 | 1.0 | hypogene | |
OCA13DH029 | 46 | 89 | 43 | 0.378 | 116 | 0.024 | 1.4 | mixed |
89 | 100.5 | 11.5 | 0.146 | 160 | 0.012 | 0.7 | hypogene | |
OCA13DH030 | 24.3 | 52.45 | 28.15 | 0.200 | 300 | 0.070 | 1.3 | mixed |
52.45 | 66.65 | 14.2 | 0.284 | 298 | 0.044 | 1.4 | hypogene | |
OCA13DH031 | 28 | 41.5 | 13.5 | 0.348 | 67 | 0.021 | 1.1 | mixed |
41.5 | 55.4 | 13.9 | 0.145 | 80 | 0.020 | 0.6 | hypogene | |
OCA13DH032 | 47 | 48.7 | 1.7 | 0.570 | >4000 | 0.043 | 2.0 | mixed |
48.7 | 53.1 | 4.4 | 0.243 | 3762 | 0.033 | 0.6 | hypogene | |
OCA13DH033 | 29.6 | 42 | 12.4 | 0.301 | 129 | 0.081 | 0.8 | mixed |
42 | 50.4 | 8.4 | 0.217 | 206 | 0.060 | 0.6 | hypogene |
Note: Cu, Mo and Ag are determined by 4-acid digestion, ICP-ES and AAS finish (where Cu>0.5%); Au is by FA-30g. Mixed Zone = mixed copper oxides and secondary sulphide (chalcocite), Hypogene Zone = primary copper sulphide (chalcopyrite).
Table 4: Sequential Copper Leach Results Phase 3 to Date
Hole | From (m) | To (m) | Interval | Tot. Cu% | Soluble Cu% | Recov. % | Acid_kg/T |
---|---|---|---|---|---|---|---|
OCA13DH001 | 0 | 46.8 | 46.8 | 0.378 | 0.324 | 82% | 10.41 |
OCA13DH002 | 0 | 12 | 12 | 0.179 | 0.147 | 80% | 11.67 |
OCA13DH003 | 35 | 50 | 15 | 0.209 | 0.157 | 78% | 16.32 |
OCA13DH004 | 10 | 29 | 19 | 0.276 | 0.247 | 87% | 15.87 |
OCA13DH005 | 24 | 100.6 | 76.6 | 0.379 | 0.277 | 67% | 19.98 |
including | 24 | 81 | 57 | 0.410 | 0.332 | 77% | 19.73 |
OCA13DH007 | 28 | 70.5 | 42.5 | 0.324 | 0.258 | 77% | 13.51 |
OCA13DH008 | 43 | 87.5 | 44.5 | 0.404 | 0.294 | 70% | 19.00 |
OCA13DH009 | 48 | 101.2 | 53.2 | 0.165 | 0.130 | 73% | 13.48 |
OCA13DH010 | 84 | 130 | 46 | 0.449 | 0.383 | 84% | 15.74 |
including | 88 | 108 | 20 | 0.555 | 0.502 | 90% | 14.90 |
OCA13DH011 | 92 | 169.2 | 77.2 | 0.237 | 0.183 | 74% | 16.88 |
including | 152 | 169.2 | 17.2 | 0.436 | 0.370 | 84% | 17.98 |
OCA13DH012 | 74 | 119.8 | 45.8 | 0.483 | 0.390 | 78% | 14.55 |
OCA13DH013 | 42 | 82 | 40 | 0.420 | 0.323 | 77% | 15.20 |
OCA13DH014 | 33 | 45.75 | 12.75 | 0.241 | 0.191 | 75% | 13.98 |
OCA13DH015 | 22.2 | 51.9 | 29.7 | 0.283 | 0.228 | 77% | 14.28 |
OCA13DH016 | 17 | 49.4 | 32.4 | 0.369 | 0.286 | 76% | 22.73 |
OCA13DH017 | 38 | 91.2 | 53.2 | 0.456 | 0.349 | 68% | 20.86 |
OCA13DH018 | 28 | 52 | 24 | 0.444 | 0.236 | 51% | 21.92 |
OCA13DH019 | 5.4 | 52.1 | 46.7 | 0.475 | 0.316 | 66% | 12.51 |
OCA13DH020 | 43 | 53 | 10 | 0.291 | 0.219 | 72% | 12.50 |
OCA13DH021 | 50.25 | 88.5 | 38.25 | 0.472 | 0.367 | 72% | 9.30 |
OCA13DH022 | 21.1 | 58.35 | 37.25 | 0.345 | 0.233 | 63% | 15.70 |
OCA13DH023 | 45 | 55.3 | 10.3 | 0.312 | 0.240 | 76% | 19.23 |
OCA13DH024 | 75 | 106.9 | 31.9 | 0.224 | 0.153 | 67% | 25.01 |
OCA13DH025 | 72 | 109.6 | 37.6 | 0.327 | 0.290 | 86% | 12.4 |
OCA13DH026 | 20 | 49.5 | 29.5 | 0.606 | 0.553 | 87% | 18.6 |
including | 28 | 49.5 | 21.5 | 0.775 | 0.714 | 92% | 19.7 |
OCA13DH027 | 30.6 | 123.5 | 92.9 | 0.341 | 0.284 | 69% | 18.0 |
including | 30.6 | 92 | 61.4 | 0.155 | 0.109 | 60% | 14.7 |
and | 92 | 123.5 | 31.5 | 0.703 | 0.626 | 85% | 24.4 |
OCA13DH028 | 35.3 | 71.55 | 36.25 | 0.683 | 0.540 | 64% | 18.0 |
OCA13DH029 | 46 | 89 | 43 | 0.375 | 0.285 | 79% | 18.5 |
OCA13DH030 | 24.3 | 52.45 | 28.15 | 0.208 | 0.158 | 71% | 21.1 |
OCA13DH031 | 28 | 41.5 | 13.5 | 0.360 | 0.297 | 80% | 26.5 |
OCA13DH032 | 47 | 48.7 | 1.7 | 0.559 | 0.487 | 87% | 14.0 |
OCA13DH033 | 29.6 | 42 | 12.4 | 0.316 | 0.270 | 85% | 14.9 |
Table 5: Sequential Copper Leach Results Phase 2 (2012)
Hole | From (m) | To (m) | Interval | Tot. Cu% | Tot. Sol. Cu% | Recov. % | Acid_kg/T |
---|---|---|---|---|---|---|---|
OKA-001 | 2 | 46 | 44 | 0.73 | 0.64 | 78% | - |
OKA-002 | 20 | 38 | 18 | 0.62 | 0.55 | 86% | - |
OKA-005 | 63 | 81 | 18 | 0.58 | 0.39 | 59% | - |
OCA12DH003 | 1.3 | 59.9 | 58.6 | 0.32 | 0.23 | 64% | 13.80 |
including | 27 | 59.9 | 32.9 | 0.43 | 0.34 | 77% | 13.80 |
OCA12DH004 | 4 | 37.5 | 33.5 | 0.49 | 0.47 | 91% | 14.66 |
OCA12DH005 | 5 | 37 | 32 | 0.54 | 0.50 | 93% | 14.45 |
OCA12DH006 | 11 | 61 | 50 | 0.61 | 0.53 | 80% | 12.71 |
OCA12DH007 | 30 | 87.6 | 57.6 | 0.72 | 0.66 | 89% | 16.62 |
OCA12DH009 | 54 | 63.8 | 9.8 | 1.36 | 1.32 | 94% | 18.43 |
OCA12DH010 | 13.2 | 29.5 | 16.3 | 0.40 | 0.32 | 78% | 22.38 |
OCA12DH012 | 22 | 69.5 | 47.5 | 0.63 | 0.50 | 76% | 19.27 |
OCA12DH013 | 32 | 83 | 51 | 0.53 | 0.48 | 90% | 16.00 |
OCA12DH016 | 28 | 55 | 27 | 0.85 | 0.81 | 96% | 19.94 |
OCA12DH017 | 49 | 55 | 6 | 0.45 | 0.36 | 80% | 12.51 |
OCA12DH018 | 34.55 | 50.45 | 15.9 | 0.26 | 0.23 | 86% | 12.21 |
OCA12DH019 | 47 | 59 | 12 | 0.23 | 0.18 | 75% | 14.70 |
OCA12DH019 | 97 | 147 | 50 | 0.34 | 0.27 | 78% | 14.80 |
Significant Intercepts from Initial Phase 3 Supergene Drilling.
Soluble Copper (Phase 2 and 3)