www.nordmin.com
43-101 PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT 1
2
3
4
418,000
5
419,000
420,000
6 421,000
7
8
422,000 858,000
417,000
858,000
416,000
A
LEGEND
A
MAIN RIVERS WATER COLLECTION AND TREATMENT
WATER COLLECTION AND PUMPING
PROJECT SUMMARY
SECONDARY STREAMS EXISTING ROADS
WATER COLLECTION AND PUMPING
SAPROLITE STOCKPILE 5M TONNES 857,000
857,000
PLANNED SITE ROADS MONTIEL EAST PIT
TAILINGS LINE FROM MILL
B
B
RECLAIMED WATER LINE TO MILL MILL / LABORATORY
WATER TREATMENT
TRANSFER WATER LINE TO TREATMENT FACILITY MONTIEL WEST PIT
CRUSHER
MONTIEL WASTE DUMP 1.2M cu. m
STOCKPILE 100,000 TONNES
SEEPAGE WATER LINE TO TREATMENT
Name
700m BLASTING SET-BACK FROM ALACRAN PIT
856,000
C
856,000
OPEN PIT MINING AREA FINAL DAM WATER COLLECTION AND PUMPING
STOCKPILE
C
TOPSOIL STOCKPILE
ALACRAN PIT
OPEN PIT WASTE ROCK STORAGE TAILINGS MANAGEMENT FACILITY
854,000
855,000
PAG WASTE 17.6M cu. m
D
COSTA AZUL WASTE DUMP 0.7M cu. m
TAILINGS MANAGEMENT FACILITY (ELEV. 173 m) 98.1M cu. m
SAN PEDRO RIVER
SCALE 853,000
853,000
417,000
418,000
REFERENCE DRAWINGS
419,000
420,000
REFERENCE DRAWING TITLE
421,000
500m
REV.
DESCRIPTION
DATE
BY
Type
NI 43-101 Technical Report
3
2
CLIENT:
PROJECT / LOCATION:
BWS
DATE
THIS DRAWING MIGHT BE REDUCED FROM ITS ORIGINAL SIZE. DO NOT SCALE
50
100 Millimeters
1,000m
DRAWN BY:
APPROVED BY:
1
F
0
DESIGNED BY:
CHECKED BY:
CHECK APPR. 4 Inches
Cordoba Minerals Corp.
422,000
REVISIONS
PROJECT DESCRIPTION REF. DWG. NO.
Client
E
F
416,000
Location: Colombia, SA
COSTA AZUL PIT
ALACRAN WASTE DUMP 26.4M cu. m
INTERIM DAM
E
WATER COLLECTION AND TREATMENT
854,000
D
855,000
EMERGENCY SPILLWAY
43-101 Preliminary Economic Assessment
CORDOBA MINERALS ALACRAN P.E.A.
TITLE:
MINE SITE LAYOUT GENERAL ARRANGEMENT PITS, STOCKPILES, T.M.F, WATER MANAGEMENT, ETC. PLAN VIEW SCALE:
NOT TO SCALE
PROJ. NO.
18220-01
DWG. NO.
18220-01-10-1010
REV. NO.
1
KNOWLEDGE + EXPERIENCE + INNOVATION = SOLUTIONS
Nordmin Group of Companies worked closely with Cordoba Minerals Corp. (TSXV:CDB) to complete a Preliminary Economic Assessment (PEA) Technical Report, prepared in accordance with National Instrument 43-101, for the Company’s San Matias Copper-GoldSilver Project (the Project). High Power Exploration Inc. (HPX), a privately owned, metalsfocused exploration company led by mining entrepreneur Robert Friedland, owns an approximate 70% interest in Cordoba. Nordmin increased the Project’s outlook through an update to the Mineral Resource Estimate, which included a detailed geological re-examination of the structural controls to high-grade gold veins within the Alacran deposit and initial Mineral Resource Estimates at the three “satellite” porphyry copper-gold-silver deposits at Montiel East, Montiel West and Costa Azul. By applying a conventional open pit mining operation consisting of a main open pit mine at Alacran and three smaller open pit mines at Montiel East, Montiel West and Costa Azul, Nordmin was able to estimate a PEA life of mine of 23 years. The PEA prepared by Nordmin demonstrated positive economics and estimated the Project to produce 417,300 tonnes of copper, 724,500 ounces of gold and 5,930,000 ounces of silver at cash costs averaging US$1.32 per pound of copper net of precious metals credits. Using an 8% discount rate, the Project has an pre-tax net present value of $347.0 million, an internal rate of return of 26.8% and a payback period of 2.8 years at flat metals price assumptions of $3.25 per pound copper, $1,400 per ounce gold and $17.75 per ounce silver. The pre-tax values include the Colombian mining royalties of 4% of total precious metals revenue and 5% of total copper revenue. Nordmin was able to optimize the Project’s NPV by including three small open pit pushbacks at Alacran planned within the first five years of operations to ensure consistent high-grade resources will be fed to the mill. Nordmin also outlined a phased mill throughput expansion to reduce the Project’s initial capital requirements and improving NPV. Nordmin also identified the potential of further enhancement of the Project value through additional expansion and definition of the deposit. Recommendations included the delineation of the high-grade gold veins contained within the Alacran deposit, optimization of mineral processing and metals recovery and additional exploration for the discovery of the porphyry sources for the deposits within the San Matias Project area. HEAD OFFICE 160 Logan Ave., Thunder Bay, ON P7A 6R1 T: 807.683.1730 | F: 807.683.1744 E: info@nordmin.com
SUDBURY 2565 Kingsway, Unit 2, Sudbury, ON P3B 2G1 T: 705.688.0404 | F: 705.688.0400 E: sudbury@nordmin.com
KAMLOOPS 103-1339 McGill Road, Kamloops, BC V2C 6K7 T: 778.471.0072 E: kamloops@nordmin.com
SALT LAKE CITY 8787 S. Redwood Road, Suite 250 West Jordan, UT 84088 T: 385.707.9494 E: saltlakecity@nordmin.com