Sinda (NYSE: SIND) is preparing a 9-km underground exploration ramp in Mexico as it works towards first silver-gold production in 2031, Executive Chairman Daniel Muñiz Quintanilla says.
The roughly $100-million (C$140-million) tunnel would provide drilling access at Caracol, part of Sinda’s project about 290 km northwest of Mexico City. The company raised about $331 million through its June stock-market debut and related share sales, funding exploration and the decline.
“Why now? Because we’ve drilled from surface and now what we need is to start drilling from underground,” Muñiz told The Northern Miner at the Mining Forum America in Colorado last month. “It’s an exploration decline, but whenever it’s completed, when we get the 9 km, this same decline will be for operations as well.”
The drilling is to help Sinda upgrade confidence in its resources while testing the surrounding vein system. A preliminary economic assessment is planned for next year and permits to build the processing plant and operate the mine remain ahead as potentially the biggest challenge on the road to production, Muñiz said.
Watch below the full interview with The Miner’s Western Editor, Henry Lazenby:
Source: www.northernminer.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
