Corani

The Corani project is located in the Department of Puno, Peru and hosts one of the largest fully permitted silver-polymetallic deposits in the world. The project site is in the Andes Mountains, in a region where the mineralization occurs in a low to intermediate sulfidation epithermal system. Silver, lead, and zinc mineralization is hosted in stockworks, breccia veins, and fractures. 

Historical mining and exploration activities have been carried out in the vicinity of the project site. Bear Creek began exploring Corani in early 2005. Exploration focused on drilling, and other exploration activities by the company included detailed geologic mapping, trenching, and geophysical surveys. From 2005 to 2019, Bear Creek completed approximately 101,400 metres of drilling at Corani. 

Based on a December 2019 technical report, Corani’s Measured & Indicated Mineral Resources are 238.6 Mt grading 42.1 g/t Ag, 0.66% Pb, and 0.44% Zn containing 322.7 Moz Ag, 3.5 Blb Pb, and 2.3 Blb Zn (NSR cut-off $10.79/t). Proven & Probable Mineral Reserves are 138.6 Mt grading 51.3 g/t Ag, 0.90% Pb, and 0.55% Zn containing 228.6 Moz Ag, 2.7 Blb Pb, and 1.7 Blb Zn (NSR cut-off $10.79/t). Mineral Resources are inclusive of Reserves. 

Production is planned from three open pits—the Este, Minas and Main pits with processing capacity of 27,000 tonnes per day. Corani is anticipated to have an average annual payable metal production of 9.6 Moz Ag, 98 Mlb Pb and 69 Mlb Zn over a 15-year mine life.  

Bear Creek has received the approval and permits required to develop and construct the proposed Corani mine.