Location

The large Volcan gold project is located in the Atacama Region of Chile, on the Maricunga gold belt.

The Maricunga Gold Belt is a prolific porphyry gold district that hosts over 100 million ounces of gold resources. The Tiernan Gold Project is approximately 150km east of the northern city of Copiapó.

Tiernan Gold

De-risking

Tiernan Gold is focused on the disciplined de-risking of the Volcan Gold Project. The project is strategically located in the Atacama Region of Chile, on the Maricunga gold belt, a jurisdiction that has a long-established history of mining with a number of operating mines, new mines under construction and major projects being developed.

Prefeasibility Study

A 2011 Prefeasibility Study contemplated 4.3 million ounces gold production1 over a 15-year mine life. With a large resource base including measured and indicated mineral resources2 of 8.9 million ounces of gold (390.7Mt at 0.709 g/t Au) and inferred mineral resources2 of 0.7 million ounces (41.6Mt at 0.50 g/t Au). The project sits on a large land package that has excellent potential for additional discoveries and resource expansion.

History

The project was acquired by Hochschild Mining in 2012 through the acquisition of Andina Minerals. Following the acquisition, Hochschild undertook a substantial program to relog drill core and update the geological model for Dorado West, the main deposit at Volcan. Subsequently, additional metallurgical test work was undertaken and a preliminary geometallurgical developed.

 

In December 2021, Hochschild announced the appointment of Greg McCunn as CEO of the Volcan Gold Project. Recently, the Board approved a work program for 2022 which includes re-establishing operations in the town of Copiapó, updating the mineral resource estimate and exploring ways of optimising the project development plan which are expected to be outlined in a new technical report.

Outlook

Hochschild is also expected to restructure the project into a newly established Canadian company (100% owned by the Company). In parallel with the completion of the technical report, the Company intends to evaluate strategic alternatives for Tiernan Gold.

For more information, please visit http://www.tiernangold.com