Sprott Resource Holdings Inc (SRHI) in its financial results for the three and six months ended June 30, 2018 has reported the latest on its 70% held Chilean producing copper mine Minera Tres Valles (MTV) that was acquired in October 2017. MTV’s main asset is the Tres Valles mining complex, in the Province of Choapa, Chile and includes fully integrated processing operations and two active mines. Mineralised material is extracted from the Don Gabriel open pit mine and the Papomono underground mine, both of which are located approximately 10 km north of Salamanca, Chile with the heap leach pads and solvent-extraction and electrowinning processing plant located approximately 7 km north of Salamanca.

“MTV began transitioning to a new mine contractor during the second quarter of 2018 and will lead the planned ramp up in operations moving forward,” said Steve Yuzpe, CEO of SRHI. “The progress being made at the site was well demonstrated in July 2018 as MTV crushed over 100,000 t of ore for the first time since 2013. Work continued on the remaining technical studies during the quarter and we currently expect to be in a position to release the final technical reports in September 2018.”

Wood PLC has commenced a pre-feasibility level underground mining study on the Papomono underground deposit and has also commenced a preliminary economic assessment level study on seven ancillary deposits surrounding the Don Gabriel and Papomono deposits, which are expected to be completed in September 2018. The studies are part of a measured and indicated mineral resource estimate of 18.3 Mt at 1.03% Cu containing 417 Mlbs of copper. In July 2018, MTV crushed over 100,000 t of ore for the first time since 2013. Vecchiola SA, a related-party to MTV’s minority shareholder, was selected as the open pit mining contractor and mobilised early June 2018, operating at a reasonably lower cost than contemplated in the Don Gabriel Manto Feasibility Study, for the first 36 months of operations. Tiex Inc, the ore haulage contractor for Don Gabriel mobilised and commenced operations August 2018, operating at the same cost as contemplated in the Don Gabriel Manto Feasibility Study.