Cañariaco / Copper, gold and silver

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Cañariaco is a large-scale copper project which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and the Quebrada Verde prospect located 3.5km south of Cañariaco Norte and immediately south-south-west of Cañariaco Sur.

Stage

Early stage

Commodity

Copper, gold and silver

Operator

Candente Copper

Location

Peru

Royalty rate and type
0.5% NSR

Balance sheet classification
Royalty intangible 

What we own

The Group has a 0.5% life of mine NSR royalty over the Cañariaco copper project (‘Cañariaco’) located in Northern Peru and owned by TSX-listed Candente Copper Corp. (‘Candente’) and Fortescue Metals Limited.

Operation/update

Cañariaco Norte has completed a PEA in 2022 and has a 2022 mineral resource estimate totalling 9.3Blbs of contained copper in the Measured and Indicated category, plus 1.4Blbs of contained copper in the Inferred category. Cañariaco Sur has a 2022 mineral resource estimate totalling 2.2Blbs of contained copper in the Inferred category. 

Candente intends to further advance the resource development with a Feasibility Study on Cañariaco Norte and further drilling on Cañariaco Sur. With the significant copper supply shortage expected in the market over the coming decade, and the backing of Fortescue as an invested party, the prospect for this potentially large operation looks increasingly more positive.

Key facts

9.3Blbs

Cañariaco Norte has a 2022 mineral resource estimate totalling 9.3Blbs of contained copper in the Measured and Indicated category, plus 1.4Blbs of contained copper in the Inferred category

2.2Blbs

Cañariaco Sur has a 2022 mineral resource estimate totalling 2.2Blbs of contained copper in the Inferred category

PEA

PEA completed in early 2022 and Feasibility study is underway