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Cerro Dorado - Overview


Fidelity Minerals currently owns 100% of the Cerro Dorado Project.


On 2 October 2019, Fidelity Minerals announced the sale of Cerro Dorado for US$1,430,000. For more information, read announcement​.

The Cerro Dorado project consists of:
  • Full service 45 person camp with accommodation, catering, office and storage facilities.

  • Recently built 45 TPD CIP plant, with permitted expansion up to 115 TPD and new 60 TPD flotation circuit.

  • Rey Salomon gold mine adjacent to the plant (100% FMN). 

Strategic Location
  • Cerro Dorado is located in the mining district of Caraveli, Arequipa, 700km south of Lima in the prolific mining Province of Caraveli.

  • Cerro Dorado provides Fidelity Minerals with a platform to process high grade ore on an “owned” or “tolling” basis.

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Cerro Dorado - CIP Plant

Plant Overview
  • A typical CIP circuit including crushing, milling and leaching all currently in place.

  • The Cerro Dorado plant is located proximal to a region with abundant high grade gold resources.

  • Plant is capable of processing 45 TPD as-is and is currently permitted to 115 TPD.

  • Fidelity Minerals has filed permit applications for expansion to 115 TPD, including a new flotation circuit.

  • The filing is pre-permitted under the formerly open IGAC process.

  • Currently IGAC approved to 115 TPD, expandable to 350 TPD under small mining permit

  • Cerro Dorado fully permitted for operation under Formalization Code (No. 040010692)

  • Proposed flotation circuit would add to efficiencies in sulphide Au recovery, further improving profitability.

  • Permitted water well with adequate supply on site.

  • No communities exist within 45km of the Cerro Dorado plant.

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Cerro Dorado - Rey Salomon Mine

Mine Overview
  • Rey Salomon gold mine adjacent to the Cerro Dorado plant. 

  • The mine has recorded historic sales of:

  • 1,675 t @ 11.80 g/t Au (since 2012)

  • 670 t @ 15.23 g/t Au (OFIR development, 2007) 

  • The Rey Salomon mine is fully permitted and produced mineral as recently as May 2016.

  • The Rey Salomon mine and adjoining 1,172 hectares of claims could provide base feedstock for the plant. 

  • Existing underground development includes:

    • 1,246m in 27 drifts

    • ~ 400m in 18 raises

    • ~ 317m in 14 adits 

    • ~ 48 open faces 

  • Only 5 out of 32 identified veins observed at surface have developed workings.

  • A potential feedstock option for Cerro Dorado.

Download the Technical Report 43-101 (Rey Salomon)

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Cerro Dorado - Strategic Location

Strategic Regional Location
  • Cerro Dorado is located in the mining district of Caraveli, Arequipa, 42 km up the Atico Valley, mostly via highway.

  • Historical production in the vicinity (<20km) of Cerro Dorado exceeds 500,000oz of Au with substantial additional regional resources.

  • Extensive regional mineralisation, is being exploited by typically small-scale mining operations.

  • There are no competing formal toll mills in the valley where Cerro Dorado is located (see map, right).

  • Cerro Dorado enjoys a significant location advantage for local miners vs. the toll milling centres in Chala and Nazca (130km & 290km away, respectively).

  • Local miners could save up to $40/T in transport costs by processing feedstock at the Cerro Dorado plant, compared to transporting ore out of the Atico valley.

  • Fidelity Minerals estimates in excess of 500 TPD of high-grade ore is being transported (at significant cost) past Cerro Dorado, destined for toll mills in Chala and Nazca.

  • Much of the regional production has desirable gold recovery characteristics; coarse gold is uncommon.

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Cerro Dorado - JV & Consolidation to Unlock Value

Significant Opportunity
  • Numerous mining concessions and small producers surround the Cerro Dorado plant (see green claims on map, right).

  • Despite significant regional mineralisation, identified resources are typically of insufficient size or lack permitting for on-site processing.

  • The limited monetisation options provide Fidelity Minerals with an opportunity to either process high-grade ore either on an “owned” (own mine) or “tolling” basis.

  • The strategic location of Cerro Dorado is well suited to either acquire stranded projects as a source of feedstock, or to structure joint ventures in the Atico valley and surrounds.

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Greater Cerro Dorado Region - Business Model

Stranded Mineral Resources
  • Resources & production with limited monetization options.

  • High-grade production typically 5-30g/T Au.

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Unlocking Value
  • The Cerro Dorado plant:

  • Is the only permitted processing plant in the region.

  • Enables Fidelity Minerals Corp. to acquire stranded projects on attractive terms.

  • Provides the opportunity to process high grade ore on an “owned” or “tolling” basis.


Plant Throughput
  • At the maximum permitted capacity    (115 TPD), the CD plant has the potential to produce 1,600oz/month (@16g/T Au).

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