Location

Iberian Pyrite Belt, Spain

  • The Lomero-Poyatos deposit is located in the north-east part of the Spanish/Portuguese Iberian Pyrite Belt in the Huelva Province of Southern Spain
  • The Lomero-Poyatos deposit site is well serviced by water, power and paved highways to Seville, Huelva, Aracena
  • Multiple high capacity processing facilities in close proximity as well as shipping access at Huelva Port
  • Several surrounding nearby villages, which represent potential sources of labour, accommodation, and general services
Spain-Mao Iberian-Pyrite-Belt-Landscape
Denarius-Map
Logos-and-Info

Geology

Iberian Pyrite Belt

The Lomero-Poyatos deposit is located in the north-east part of the Spanish/Portuguese (Iberian) pyrite belt which extends about 230 km between Seville in the east (in southern Spain) and the Atlantic coast near Lisbon in the west (in Portugal). The Lomero-Poyatos deposit is located on the northern margin of the pyrite belt.

The Iberian Pyrite Belt is the largest concentration of massive sulphides in the world.

Deposit

The Lomero-Poyatos deposit has an average ENE (075°) strike and dips about 35°N. At the surface there are two separate mineral deposits: Lomero (east) and Poyatos (west) that combine to form a single deposit at depth.

Mineralization

Pyrite is the predominant sulphide, but the sulphide minerals of greatest economic importance are sphalerite, chalcopyrite, tetrahedrite and galena. The massive sulphide and semi-massive sulphide zones at Lomero-Poyatos are significantly enriched in gold. In terms of gold content, the Lomero-Poyatos deposit has the highest gold grades in the IPB with values of 2.0 m at 14.1 g/t Au and 0.55 m at 16.84 g/t Au being returned from CMR/Newmont drill holes in 2007. There is copper-enrichment in the central part of the mine, with some zinc-lead-gold enrichment towards the eastern and western margins of the deposit.

Geological-Info

Historical Estimate

Historical Resource Estimate

SRK Consulting has completed a review and assessment of the Lomero-Poyatos Project, confirming the potential exploration targets for a gold and copper polymetallic project. Gold grades at the Lomero-Poyatos Project are some of the highest known in the Iberian Pyrite Belt. SRK has consolidated available information from previous explorers in its Technical Report dated July 26, 2021.

SRK Technical Report, July 26, 2021

Behre Dolbear Technical Report, April 5, 2021 (2012 Historic Mineral resource Estimate)

Lomero-Poyatos-Mineral-Distribution-Block-Model-For-Au-Cu
Lomer-Poyatos-Historical-Resource-Estimate

The historical resource estimate Statement for the Lomero Poyatos deposit is presented in the table. The historical resource estimate is NI 43-101 compliant and was made by Behre Dolbear with an effective date of 2011 and based on the GEMCOM “global” resource model from 2011 with a 1 g/t Au cut-off, within a 25 % S shell, and a deemed SG of 3.3 g/cm3. Metal Equivalent grades were calculated using prices of US$1,500/oz gold, US$18/oz silver, US$3/lb copper, US$0.8/lb lead, US$1.00/ lb zinc. The prices used Assumes 100% recovery and 100% payable for all metals.