Buenaventura Announces Important Developments in San Gabriel Mining Project

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Buenaventura Mines Company is taking strong steps towards the future with the San Gabriel mining project in Moquegua, Peru. With a 14% construction progress and a schedule targeting the second half of 2025 for the start of operations, this project is well underway.

Significant Construction Progress

To date, the San Gabriel project has reached 14% progress in its construction. This milestone is a testament to Buenaventura’s commitment to the efficient implementation of this ambitious project. Detailed engineering and equipment and materials procurement are also progressing strongly, with 90% and 89% complete respectively.

The Potential of the Project

San Gabriel is an underground gold and silver mining project that promises to be a valuable asset for Buenaventura and the Moquegua region. With an investment of US$ 430 million, this project focuses on the exploitation of the Canahuire deposit, which has an estimated mineral resource of 5.6 million ounces of gold equivalent. Most excitingly, there is potential for mineralization beyond what has been drilled to date.

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Additionally, the inferred resource for Canahuire is impressive, at approximately 83.7 million tonnes at 1.9 g/t gold and 0.09% copper.

The Geology of San Gabriel

The San Gabriel site is an example of fascinating geology. It is an epithermal deposit of intermediate sulfidation containing gold, copper and silver. It is located in Mesozoic calcareous rocks associated with a diatreme. San Gabriel presents two mineralized areas known as San Gabriel Sur and San Gabriel Norte. The mineralization consists of fine gold and chalcopyrite in gangues of pyrite, siderite and other minerals.

Buenaventura is on track to successfully complete its San Gabriel project, and the future looks bright for this mining company and the Moquegua region. Stay tuned for updates as this project promises to have a significant impact on the mining industry for years to come.

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