Mining

Operation and Mining Development

Operation

Gualcamayo is a gold and silver mine located in Jáchal, San Juan province, Argentina. Aisa Group acquired 100% of the shares of Minas Argentinas SA in September 2023, when the operation was beginning its closure phase. After a process of restructuring and capitalization of the company, the finances were stabilized, and exploration work was restarted. Following the acquisition, Aisa Group implemented significant changes in operations, with a special focus on optimizing the leach heap. It was identified that, in areas previously considered exhausted, there were still significant amounts of gold. Currently, a redesign and enhancement of the leaching system is underway. A more stable design will be implemented through the reshaping of slopes and ripping of the ore, improving solution infiltration and maximizing contact with the ore. In addition, a lime slurry plant will be built to adjust the pH of the solution. These improvements aim to increase efficiency in gold recovery and ensure the sustainability of operations. Aisa Group prioritizes sustainable mining practices, with a strong commitment to the environment and local communities. Our operations are designed to ensure minimal environmental impact while simultaneously promoting the economic and social development of the region.

Potential

Currently, the production of Gualcamayo is focused on the secondary recovery of the leaching heaps. Gualcamayo has recoverable reserves certified at 343 thousand GEO ounces (Gold Equivalent Ounces).

The future of Gualcamayo is the Deep Carbonates Project. It has total resources of over 3 million ounces, with 1.6M already in reserve category (growing). During 2025, the plan is to complete the technical and economic feasibility study and advance in the engineering to project the construction of a new processing plant. Once in production, Deep Carbonates will generate about 120 thousand GEO ounces annually for a minimum period of 17 years.

Exploration work at Gualcamayo focuses on two objectives:

- The expansion of the Deep Carbonates body

- The development of new targets that allow the generation of other sectors with productive potential.

Clear evidence has already been found indicating that Gualcamayo hosts primary minerals with economic potential in several of the outcropping intrusive bodies.

Highlights

  • Secondary Recovery: The leach pad has a 2024 Reserve Statement for 343 thousand recoverable GEO ounces according to JORC code.

  • Resources: The Deep Carbonates Project already has 3M GEO ounces of certified Resources, including more than 1.6M ounces in the Reserve category.

  • Exploration: Exploratory efforts are being renewed, and numerous very promising targets have been identified.

  • Certification: The project's resources are certified according to NI 43-101 standards and JORC code, ensuring compliance with international best practices.

  • Infrastructure: A fully developed infrastructure supports ongoing and future mining operations.

  • Engineering and Safety: Advanced engineering and mining plans have been implemented, and ongoing metallurgical and environmental studies are yielding positive results. The internal engineering team collaborates with leading international consulting firms to maintain the highest operational standards.