Nativo Resources has signed an option agreement with Boku Resources SAC to evaluate the Toma La Mano tailings deposit in Peru for gold and silver recovery. Estimated to contain about 1.8 million tonnes of polymetallic material, the project aligns with efforts to mitigate environmental risks. The feasibility study and potential processing plant establishment may offer low-cost, sustainable mining solutions.
Nativo Resources has entered into an option agreement through Boku Resources SAC, its 50%-owned joint venture, to assess the recovery of gold and silver from the Toma La Mano tailings deposit in Peru. This project, situated in the Ancash region, is owned by Corporación Minera Toma la Mano and includes an onsite polymetallic tolling plant that processes various metals such as lead, zinc, copper, and silver, sourced from third-party ores.
The tailings deposit contains an estimated 1.8 million tonnes of polymetallic material derived from previous mining and tolling activities. Historical data indicates gold concentrations ranging from 0.1 to 1.7 grams per tonne, and silver concentrations between 10 and 37 grams per tonne, although exact recovery rates remain uncertain. Under the agreement, Boku has three years to complete a resource estimate and feasibility study, which will include metallurgical analysis to optimize recovery rates.
Should Boku decide to proceed with the project after the feasibility study, it will have the right to create a processing plant to extract and sell the recovered precious metals, paying $3 per tonne of processed tailings along with a royalty fee of 6.5% on revenues. This rate would increase to 7% once Boku recoups 30% of its investments. Importantly, Boku will not gain any ownership interest in the tailings deposit itself.
The initiative is designed to address the environmental and social challenges posed by historical tailings and aims to decrease both water and soil pollution while minimizing land degradation. This re-mining approach presents a more sustainable alternative to conventional mining by utilizing less energy and generating lower greenhouse gas emissions.
Stephen Birrell, the Chief Executive Officer, stated, “This agreement is for the first of a series of seven similar tailings cleaning projects identified by Boku and Nativo in the region.” He emphasized the practicality of processing such environmental liabilities using modern technology in a centralized facility. The strategy aims to extract precious metals, remediate the land, and adhere to current environmental legislation.
Birrell viewed the initiative as a low-cost, low-risk endeavor with a simple resource definition process and limited capital outlays. He remarked that if developed effectively, this model could be significantly scalable across Peru, where similar tailings deposits are in need of remediation. With current favorable gold market conditions, these projects offer beneficial outcomes for all parties involved with a targeted final investment decision anticipated by the first quarter of 2026.
In summary, Nativo Resources’ agreement with Boku Resources SAC to explore gold and silver recovery from the Toma La Mano tailings deposit signifies a strategic move towards sustainable mining practices. The project not only aims to remediate environmental concerns associated with historical mining activities but also presents economic opportunities amidst favorable market conditions. The company’s approach emphasizes low-cost and low-risk strategies, indicating a commitment to both profitability and ecological responsibility.
Original Source: www.sharecast.com
