Cañariaco, Peru / Copper and gold
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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.
Early stage
Copper and gold
Alta Copper
Peru
Royalty rate and type
0.5% NSR
Balance sheet classification
Royalty intangible
The Group has a 0.5% life of mine NSR royalty over the project which is majority owned by TSX-listed Alta Copper Corp. (‘Alta’).
A Preliminary Economic Assessment (‘PEA’) was completed on Cañariaco Norte which estimated a post-tax NPV of over $1bn (at a copper price of $3.50/lb) and a 2022 mineral resource totalling 9.3Blbs of contained copper in the Measured and Indicated category, plus 1.4Blbs of contained copper in the Inferred category. A resource estimate was also completed for Cañariaco Sur that estimated 2.2Blbs of contained copper in the Inferred category. In 2024, Alta Copper expects to continue advancing an Optimized PEA, to be published in H1 2024 and to apply for permits for a 47,000m drill programme, advance metallurgical testwork and community engagement.