Minera Alamos has announced a merger between its Mexican subsidiary, Cobre 4H de Sonora de Mexico (Cobre), and Minera Gold Copper de Sonora (Minera Gold Copper), an arms-length Mexican company.
Under the agreement, share ownership in the Cobre subsidiary will be divided between Minera Alamos (50%) and the existing shareholders of Minera Gold Copper (50%).
This entity will control the Los Verdes and Potreritos copper projects owned by Minera Alamos, as well as Minera Gold Copper’s Suaqui Verde project and additional claims in the Suaqui Verde copper district.
The combined subsidiary will own Minera’s Los Verdes and Potreritos copper projects as well as Minera Gold Copper’s Suaqui Verde copper project.
Additionally, it will earn certain rights to additional surrounding claims associated with the Suaqui Verde copper district.
The Suaqui Verde project is a significant addition to Minera Alamos’ portfolio, enhancing the potential to create a regional copper production hub with low capital intensity.
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By GlobalData
The Suaqui Verde project, a classic porphyry copper deposit, is situated within the prolific Arizona-Sonora porphyry belt, known for its large-scale copper mining operations.
It is located 50km west of Minera’s Santana gold mine and Los Verdes copper project, and benefits from existing infrastructure including road access and grid power, as well as proximity to Minera’s personnel.
Historical exploration, including around 100 drill-holes since the early 1990s, will be consolidated into a new current mineral resource statement.
Previous metallurgical work and engineering studies suggest that Suaqui Verde could be developed as a low-capital-intensity, open-pit/SX-EW copper project, producing copper metal cathode on-site.
Minera Alamos plans to initiate a new resource estimate for Suaqui Verde, aiming to update historical mineral resources to current standards.
The Los Verdes and Potreritos copper projects, located north-east of the Santana gold mine, also contribute to the merger’s potential.
Los Verdes has a Measured+Indicated Resource Estimate of eight million tonnes with notable copper and molybdenum content.
Potreritos, with similar mineralisation and historical underground workings, has seen limited modern exploration compared with Los Verdes.
Minera is reviewing the current preliminary economic assessment designs, focusing on reducing initial capital requirements through the use of ore-sorting equipment, which could enhance plant feed grades and recoveries.
Additionally, new exploration targets have been identified, including a significant geophysical anomaly indicative of intense pyritisation and surface copper/molybdenum samples, located between the known copper deposits.
