Acquisition Date

2016 / Jan / 19

Terms

1.05% NSR

Operator

Kinross Gold Corporation

Lobo-Marte is located in the Maricunga Gold District of Chile and contains two epithermal gold deposits that are seven kilometres apart. The project is 100 km east of the city of Copiapó and 60 km south of Kinross’ La Coipa mine.

In November 2021, Kinross announced results from the Lobo-Marte Feasibility Study, which reaffirmed the project has the potential to be a long-life asset with a large production profile and low costs. The project is planned as an open pit, heap leach and SART (Sulphidization, Acidification, Recycling and Thickening) plant operation that will mine the Marte and Lobo deposits in succession, as previously contemplated in the 2020 Pre-feasibility Study.

As of October 2021, the Probable reserves are 6.7 Moz gold contained in 160.7 Mt grading 1.3 g/t gold, Indicated resources are 2.3 Moz gold contained in 99.4 Mt grading 0.74 g/t gold, and Inferred resources are 445 koz gold contained in 18.4 Mt grading 0.75 g/t gold.

The Feasibility Study estimates construction beginning in 2025 at the earliest, with first production expected in 2027, subject to a positive development decision. Lobo-Marte’s mine life is expected to be 16 years, comprised of 14 years of mining and two years of residual processing. For more information, visit www.kinross.com.

Sandstorm holds a 1.75% NSR royalty on 60% of future production (equivalent to 1.05%) and is capped at $40 million. The royalty was acquired as part of a package of royalties from Teck Resources.

Recent Activity

February 2021

The Feasibility Study continues to advance and is expected to be completed in the fourth quarter of 2021. Kinross is targeting production at Lobo-Marte in 2027, with construction potentially starting in 2025.

July 2020

Kinross will commence a feasibility study during the second half of 2020 with scheduled completion by the end of 2021. The feasibility study is expected to provide the detailed engineering and project description required for permitting and submission of an Environmental Impact Assessment.

Lobo Marte

 

Lobo Marte Royalty Map
Lobo Marte Royalty Map