JV Article: “Our drilling in the far northeast of the deposit continues to intercept zones of high-grade mineralization well beyond the limits of our current resource,” Tony Makuch, interim CEO of DiscoverySilver $DSV.V silver mexico cordero
The experienced team at the Cordero project, soon to be one of the world’s largest primary silver producers. Discovery Silver.
Heading up the Discovery team is COO Tony Esplin. He brings more than two decades of experience at Newmont and Barrick Gold . Other key members are country manager for Mexico, Roman Solis, an exploration geologist with 20 years of experience; and vice-president of exploration Gernot Wober, with 36 years of experience in Latin America and recently with Osisko Mining in Quebec.This is an opportune time for a top-notch team to concentrate on silver.
The distribution of the orebody lends itself to a phased development, which is the approach Discovery took in the preliminary economic assessment on Cordero. A phased prefeasibility study is expected in the first quarter of 2023. A PEA released in 2021 gave Cordero an after-tax net present value of $1.2 billion and an internal rate of return of 38%. Payback would occur after two years. This is the base case, using a silver price of $22 per ounce.
The initial capital requirement will be $368 million, followed by $129 million in expansion capital, and US$186 million in sustaining costs. Discovery estimates the closure costs at $44 million.Discovery is planning a two-phase execution for the mill in the upcoming pre-feasibility study. In the early years the throughput rate is expected to be 25,000 tonnes per day. This will then increase to 50,000 tonnes per day.
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