The Limon mine constitute mine which located in northwestern Nicaragua Approximately 100 kilometers northwest of Managua, capital of Nicaragua. The property is easily accessed by paved highway and 15 km gravel pit road with a total road distance of 140 kilometers from Managua. The property extends along the border of the municipalities Larreynaga and Telica the Department of Leon and the municipalities of Chinandega and Villanueva of the department of Chinandega.
The Limon Mine consists of 12,000 hectares of “Mina El Limon” mineral concession, issued for a period of 25 years and expiring in April 2027. Each mineral properties under the Nicaraguan mining law subject to an agreement by the Government of Nicaragua, which include the rights to develop, to explore, for mine, extract, export and sale found mineral resources and made the concession.
The el Limon mine are obliged to submit annual reports on its activities and production statistics to government . Escalating annual surface taxes are payable to the Nicaraguan government for the Mina El Limon mineral properties.
The surface tax was US $ 4.00 per hectare in 2009 and a maximum of US $ 12.00 per hectare in 2012 has been reached and will be maintained through the years that followed.
The surface tax was US $ 4.00 per hectare in 2009 and a maximum of US $ 12.00 per hectare in 2012 has been reached and will be maintained through the years that followed.
B2Gold Company hold an indirect 95% interest in Triton Minera SA ( “Triton”), which owns and operates the Limon Mine, and holds three other mineral concessions, all at an exploration stage. The remaining 5% of Triton held by IMISA. Triton holds directly or controls the surface rights for all of the property on which the current mining, milling, tailings and related facilities are located at the Limon Mine.
Triton also owns a part of the surface rights to the properties. As required, Triton has negotiated and access agreements with individual surface rights holders in respect of these properties entered for which it does not hold the surface rights within the concession. All of the permits required for exploration, mining and milling activities are in place for the Limon Mine.
RG Exchangeco Inc., a subsidiary of Royal Gold, Inc., holds a 3% NSR royalty on the gold production from the Limon Mine and certain other concessions.
The revenue from the Limon Mine is also subject to a 3% VAT payable on the production of gold to the Government of Nicaragua, which is considered a deductible expense for purposes of computing corporate income tax.
The revenue from the Limon Mine is also subject to a 3% VAT payable on the production of gold to the Government of Nicaragua, which is considered a deductible expense for purposes of computing corporate income tax.
Internacional de Comercial SA holds a license fee of 5% of net profit of Triton Mining (USA) LLC ( “Triton USA”) equal, indirect subsidiary, a holds 47.5% interest in the Limon Mine. The net profit from the difference between gross income defined on spending (all revenue from the operation of Triton USA their business is obtained) (where indicated as costs and as costs of Triton USA from its operations result, including working capital and operating costs, pay royalties, borrowing costs, taxes and Common selling and administrative expenses).
Mineralization At The Limon Mine Nicaragua
The gold mineralization at the Limon Mine and northwestern Nicaragua is typical of low-sulphidation, quartz-adularia, epithermal systems. These deposits were formed in relatively shallow, typically from just below the surface to a little more than a kilometer deep.
To date, this is the only type of gold mineralization was found and reported in the tertiary rocks in northwestern Nicaragua. Silver is usually a commercially minor by-product of gold mineralization.
All gold production was hosted by quartz vein and quartz vein breccia deposits in the linear structural features and often accompanied minor pyrite and trace amounts of base metal sulphides.
Gold is dispersed generally to very fine-grained and relatively evenly across the higher grade portions of the veins. Only low incidence of disseminated or floor type epithermal precious metal mineralization reported. , Mineral deposits or deposits of other metals in the area not known
Three producing and past-producing vein systems do nearly all the gold from the Limon Mine District produced; these are the Limon, Santa Pancha and Talavera systems. A Large number of other weakly mineralized quartz veins have been identified and explored, some with smaller development and production
The productive vein systems are approximately 1.0 to 2.0 kilometers Far with vein widths of less than 1.0 meters to 25 meters. All economic gold mineralization to date is located within 400 meters of the surface.
The productive and prospective surveys within the vein systems vary systematically in the district. Post-mineral disturb error locally and the veins balanced.
Geology In Limon Mine
The Limón mine is located on the eastern edge of the Nicaragua graben in an area of low hills, which are predominantly underlain by Miocene-Pliocene volcanic layers to felsic by minor intermediate cut intrusive bodies.
Gold mineralization in the district is classified Limón with quartz-adularia vein systems as low sulphidation epithermal deposits. These deposits were formed in relatively shallow, usually below the surface a little more than a kilometer deep, from neutral pH hydrothermal fluids with temperatures C <150o C to 300o. The volcano-putonic arc of western Nicaragua a common tectonic setting of these deposits.
Exploration El Limon Mine In 2015
The drilling 2015 has continued near term mine development in Santa Pancha and upgraded to perform the U -Bahn resource category, which specifically SP1 (# 8 waveband). Greenfields exploration is for testing ongoing potential of the current mining areas, some of which will be drill tested towards the end of 2015.
Past Exploration
Focus of the exploration work on the Limon property to date on the Santa Pancha 2 cores (Pozo # 4 and # 5) area, the current underground 1 km north was drilling located in Santa Pancha. 1 the hanging wall structure in Santa Pancha 2 appears the best host of the mineralization to be where the average widths were intersected between 2 to 15 meters.
Drilling in 2014 on the Santa Pancha 1 vein system helped establish continuity in an area that is planned to be mined in 2015. Results of significance LIM 14-3884,for the 73.34 g / t gold over 2, 5 m true width and LIM 14-3883 with 26.6 g / t gold over 1.7 m returned true width.
Results significance further north on the vein structure of Santa Pancha 2 comprise LIM-14-3857 with 7.9 g / t gold over 3.95 m true width and LIM 14-3854, the 5.2 g / t gold over 5.3 meters true width back.
In Fair east of vein Veta Nueva returned encouraging results from drill Gap 14-3876 LIM, the 8.6 g / t returned at the structure Atravesada gold over 2.7 meters, which working drilling in 2014. Atravesada further drill tested in 2015 to search within this vein structure in grade continuity.
Mining And Ore Processing El Limon Mine In Nicaragua
The vein system in Santa Pancha has become the primary is provided source for the underground exploitation of ore. The access for underground mining in Santa Pancha by ramp system that branches at the 90 meter level, both in North and Central ramps.
The deepest level of the mine is Approximately 170 feet below the surface. Two increases support the mine ventilation system and one of them serves as an emergency escape route. Future mining in Santa Pancha requires the mine to deepen and extend the mine along strike.
Dewatering is a critical component of mining in Santa Pancha and pumps are working in two existing wells that water levels to ensure are kept at a safe level below the lowest working. Continued deep development in Santa Pancha and improvements in this drainage system are a significant part of the capital estimate for the next year.
The Limon Mine Mill is a 1,000 tpd ( tonnes per day ) CIP gold recovery plant. The mill throughput capacity increased to 1,0 tons per day in 2013 made due to the ongoing improvements in the mill, and is currently in a throughput capacity of 1,375 tonnes per day.
Run of mine ore is hauled by truck of Little open pits and Santa Pancha Mine (six kilometers from the process plant) (in a radius of between one and five kilometers are of the process plant).
Ore is stockpiled in front of the primary crusher or ore is thrown in front of the primary crusher to the stockpile or directly in the 36-ton capacity dump hopper feeding the crusher. This stock is used to mix the various ore sources to maintain a consistent grade in the mill feed.
Video Under Ground Mine In El Limon Nicaragua
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