Minera Altos de Punitaqui ("MAP") is an integrated copper and gold mining complex located in the region of Coquimbo, Chile approximately 50km south of the Andacollo copper mine owned by Teck Resources. MAP is a past producing mining operation which was placed on care and maintenance in 2020 by a previous operator given difficult market conditions at the time.
MAP consists of a centralized process plant which is fed by four satellite copper deposits - San Andres, Cinabrio, Dalmacia and Los Mantos. The fully permitted operation is easily accessed by roads from the nearby towns of Punitaqui and Ovalle.
The process plant at MAP consists of a standard copper sulphide crush-grind-flotation circuit to produce a saleable copper-gold concentrate. The plant has historically operated at 3,600 tpd with nameplate capacity of 4,000 tpd. Water for the facility is sourced from both underground sources and local suppliers. The plant, workshop, laboratories, offices and warehouses cover an area of approximately 5,200 m2 .
The MAP deposits are part of a 25km long mineralized district that is a classic IOCG and mantos style copper belt that comprises mantos and structural controlled copper-gold-silver veins. In addition to the four previously mined deposits, MAP has numerous regional targets for immediate exploration which offers district-scale potential to BMR.
Following the acquisition of MAP in March 2021, BMR plans to immediately commence restart activities at the site to resume mining and milling operations which will be carried out in conjunction with an aggressive regional exploration campaign to better define historical mineral resources and add new resources for mining in the future.