Cañariaco, Peru / Copper and gold
View on map
Cañariaco is a large-scale copper project in northern Peru which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and the Quebrada Verde prospect.
Early stage
Copper and gold
Alta Copper
Peru
Royalty rate and type
0.5% NSR
Balance sheet classification
Royalty intangible
The Group has a 0.5% NSR royalty over the project which is majority owned by TSX-listed, Alta Copper Corp. A Preliminary Economic Assessment (PEA) was completed on Cañariaco Norte which estimated a post-tax NPV of over $1bn (at a copper price of $3.50/lb) and a 2022 mineral resource totalling 9.3Blbs of contained copper in the Measured and Indicated category, plus 1.4Blbs of contained copper in the Inferred category.
A resource estimate was also completed for Cañariaco Sur that estimated 2.2Blbs of contained copper in the Inferred category.
- Preliminary Economic Assessment published showing robust project economics.
- Received drilling permits from Ministry of Energy and Mines of Peru for a drill program to further define mineral resource.
- Drilling program expected to commence in 2025.
- Planned Feasibility Study targeted for publication in 2027.
Cañariaco is classified on the balance sheet as a royalty intangible.