Metates is a 100%-owned, open-pit development project in Durango, Mexico, subject to Wheaton Precious Metals' 0.5% life-of-mine net-smelter-return royalty. The January 2023 resource update defined 921.2 Mt of measured and indicated resources containing 16.77 Moz Au and 423.2 Moz Ag, plus 139.5 Mt inferred containing 2.13 Moz Au and 59.0 Moz Ag. The current development case is a 15,000 t/d sulphide heap-leach starter operation evaluated in the December 2022-effective PEA. Chesapeake is completing additional oxidative-leach testwork and environmental baseline studies before preparing a PFS. The San Vicente 3 concession has been cancelled by Mexico's mining authority and is under legal challenge; Chesapeake states that failure to reinstate it would materially affect the resource estimate and PEA development case.
- Country
- Mexico
- Commodity
- Au
- Stage
- Pre-Feasibility