Although the concession is in exploitation phase, to date there are not exploitation activities carried out by the titleholder. This title has an approved program of works and investment (PTI), approved by Resolution No. 0077 of August 27, 2004, issued by the competent mining authority. This permit enables the owners to perform exploitation activities that consist of a small mining operation. The titleholder is in negotiation process with a mining operator to exploit the concession contract. On August 27th 2005, the CSB approved the environmental license (Resolution No. 576) for the exploitation activities in the concession. Los Mates has initiated the cession process of the environmental license from the previous titleholder.
The area does not overlay any area with environmental restrictions.
The inherent obligations of the concession related to the presentation of reports and mining royalties are up-to-date
Geology”Overview of the Concession 12033.
- Source: NI 43,101 Technical Report San Carlos Property, Río Viejo, Norosí, and San Martin de Loba Municipalities, Bolivar, Colombia.
- Basement rocks include quartz biotite gneiss overlain by an early Jurassic volcanoclastic sequence. This is intruded by late Jurassic andesitic porphyries, which are the main host for mineralization in the area of the 12033 Concession.
- Mineralization is found in a series of en,echelon parallel vein structures following the principal NE,SW trend consistent with the regional trend of the Serrania Eastern Zone (Magdalena Valley Graben). Subsidiary structures are found north,south.
- Veins have discontinuous lengths exceeding one km, and vary in width from 10’s of centimeters to 2m. Veins dip steeply to either side depending on variance in the structural setting.
- Vein composition is variable, with quartz dominant. Gold is found in free state as well as bound to sulphides. Pyrite is the dominant sulphide, but chalcopyrite, galena and sphalerite are found as well. Gold grades are bimodal in early sampling.
- Over 40 artisanal mines currently operating in Concession 12033.