The Hermosa property is located about 80 kilometres southeast of Tucson, Arizona, approximately 13 kilometres north of the U.S. border with Mexico. The property is 100% owned by Arizona Minerals Inc., which is 80% owned by Wildcat Silver.
Wildcat has increased Hermosa’s total resource base substantially since its first estimate in 2007. The project currently hosts a proven and probable reserve of 145 million ounces of silver and 7.2 billion pounds of manganese, which is included in a measured and indicated resource of 245 million ounces of silver and 10.3 billion pounds of manganese. In addition, the inferred resource contains 50 million ounces of silver and 1.2 billion pounds of manganese.
Hermosa’s pre-feasibility study estimates annual production of over 12 million ounces of silver for the first five years of production and 110 million pounds of electrolytic manganese metal (EMM) over a year mine life, at industry low cash costs of $4.45 per ounce silver and $0.73 per pound EMM. The Company expects to complete a feasibility study in the second half of 2014.
1. Complete Hermosa Reserve and Resource Estimate (including by-products) with Footnotes