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Cerro Dorado - Overview
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:
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Full service 45 person camp with accommodation, catering, office and storage facilities.
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Recently built 45 TPD CIP plant, with permitted expansion up to 115 TPD and new 60 TPD flotation circuit.
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Rey Salomon gold mine adjacent to the plant (100% FMN).
Strategic Location
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Cerro Dorado is located in the mining district of Caraveli, Arequipa, 700km south of Lima in the prolific mining Province of Caraveli.
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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
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A typical CIP circuit including crushing, milling and leaching all currently in place.
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The Cerro Dorado plant is located proximal to a region with abundant high grade gold resources.
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Plant is capable of processing 45 TPD as-is and is currently permitted to 115 TPD.
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Fidelity Minerals has filed permit applications for expansion to 115 TPD, including a new flotation circuit.
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The filing is pre-permitted under the formerly open IGAC process.
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Currently IGAC approved to 115 TPD, expandable to 350 TPD under small mining permit
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Cerro Dorado fully permitted for operation under Formalization Code (No. 040010692)
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Proposed flotation circuit would add to efficiencies in sulphide Au recovery, further improving profitability.
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Permitted water well with adequate supply on site.
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No communities exist within 45km of the Cerro Dorado plant.​


Cerro Dorado - Rey Salomon Mine
Mine Overview
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Rey Salomon gold mine adjacent to the Cerro Dorado plant.
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The mine has recorded historic sales of:
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1,675 t @ 11.80 g/t Au (since 2012)
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670 t @ 15.23 g/t Au (OFIR development, 2007)
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The Rey Salomon mine is fully permitted and produced mineral as recently as May 2016.
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The Rey Salomon mine and adjoining 1,172 hectares of claims could provide base feedstock for the plant.
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Existing underground development includes:
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1,246m in 27 drifts
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~ 400m in 18 raises
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~ 317m in 14 adits
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~ 48 open faces
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Only 5 out of 32 identified veins observed at surface have developed workings.
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A potential feedstock option for Cerro Dorado.
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Download the Technical Report 43-101 (Rey Salomon)
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Cerro Dorado - Strategic Location
Strategic Regional Location
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Cerro Dorado is located in the mining district of Caraveli, Arequipa, 42 km up the Atico Valley, mostly via highway.
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Historical production in the vicinity (<20km) of Cerro Dorado exceeds 500,000oz of Au with substantial additional regional resources.
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Extensive regional mineralisation, is being exploited by typically small-scale mining operations.
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There are no competing formal toll mills in the valley where Cerro Dorado is located (see map, right).
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Cerro Dorado enjoys a significant location advantage for local miners vs. the toll milling centres in Chala and Nazca (130km & 290km away, respectively).
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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.
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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.
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Much of the regional production has desirable gold recovery characteristics; coarse gold is uncommon.


Cerro Dorado - JV & Consolidation to Unlock Value
Significant Opportunity
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Numerous mining concessions and small producers surround the Cerro Dorado plant (see green claims on map, right).
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Despite significant regional mineralisation, identified resources are typically of insufficient size or lack permitting for on-site processing.
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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.
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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.


Greater Cerro Dorado Region - Business Model
Stranded Mineral Resources
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Resources & production with limited monetization options.
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High-grade production typically 5-30g/T Au.

Unlocking Value
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The Cerro Dorado plant:
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Is the only permitted processing plant in the region.
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Enables Fidelity Minerals Corp. to acquire stranded projects on attractive terms.
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Provides the opportunity to process high grade ore on an “owned” or “tolling” basis.
Plant Throughput
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At the maximum permitted capacity (115 TPD), the CD plant has the potential to produce 1,600oz/month (@16g/T Au).
