Nativo Resources Signs Option Agreement for Toma La Mano Tailings Project in Peru
Nativo Resources has signed an option deal with Boku Resources SAC to explore the potential recovery of gold and silver from the Toma La Mano tailings deposit in Peru. The project aims to address environmental risks associated with historical tailings, utilizing advanced technology for processing and remediation. The agreement outlines a three-year period for feasibility studies with plans for a final investment decision by early 2026.
Nativo Resources announced it has entered into an option agreement through its 50%-owned subsidiary, Boku Resources SAC, to explore the recovery of gold and silver from the Toma La Mano tailings deposit in Peru. The AIM-traded firm, previously known as Echo Energy, reported that this deposit is situated in the Ancash region, under the ownership of Corporación Minera Toma la Mano, which currently operates a polymetallic tolling plant that processes third-party ore.
The tailings, which have accumulated from both historic mining and ongoing tolling operations, are estimated to contain approximately 1.8 million tonnes of polymetallic material. Historical data indicate gold grades ranging between 0.1 and 1.7 grams per tonne and silver grades between 10 and 37 grams per tonne, although recoveries and residual grades remain uncertain.
Under the terms of the agreement, Boku will have a maximum period of three years to conduct a resource estimate and feasibility study, which will include metallurgical analyses to ascertain recovery rates. If Boku moves forward with a final investment decision, it will gain the right to establish a processing plant for precious metals, incurring a rental fee of $3 per tonne of tailings processed, along with a royalty fee based on revenues that increases with the level of expenditure recovered.
This project aligns with efforts to alleviate environmental and social risks associated with historical tailings, aiming to reduce water and soil contamination while minimizing land degradation. The re-mining of these materials also presents a lower-carbon option compared to traditional mining methods, utilizing less energy and generating lower greenhouse gas emissions.
Stephen Birrell, CEO, stated, “This agreement is for the first of a series of seven similar tailings cleaning projects identified by Boku and Nativo in the region.” He articulated the straightforward opportunity presented by the Toma La Mano tailings dumps, which are environmental liabilities that necessitate attention. Boku’s approach involves using contemporary technology to process these tailings through a centralized plant, extract precious metals for a royalty, and rehabilitate the land according to modern regulations.
Birrell emphasized that this approach is considered low-cost and low-risk, with “quick and cheap” resource definition and minimal capital outlay. The scalability of this model could address similar deposits across Peru, particularly given favorable gold prices, suggesting profitability for all stakeholders involved. The company aims for a final investment decision by the first quarter of 2026.
In conclusion, Nativo Resources has made significant progress by entering an option agreement to explore the recovery of precious metals from tailings at the Toma La Mano deposit in Peru. This initiative not only holds potential economic benefits but also provides an environmentally responsible solution for dealing with historical mining waste. The structured approach to assessing and potentially remediating the site reflects a forward-thinking strategy that could lead to further similar projects in the region.
Original Source: www.sharecast.com
