Business
Sierra Madre Hires Stantec Consulting to Review Tailings Deposition Options
VANCOUVER, BC / ACCESSWIRE / October 17, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQ...
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre Hires Stantec Consulting to Review Tailings Deposition OptionsVANCOUVER, BC / ACCESSWIRE / October 17, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQX:SMDRF) (\"Sierra Madre\" or the \"Company\") is pleased to announce it has engaged Stantec Consulting International LLC (\"Stantec\") to examine tailings deposition options at the 100% owned past-producing La Guitarra Silver-Gold Mine Complex (\"La Guitarra\") in Estado de Mexico, Mexico, 130 km southwest of Mexico City. The agreement was signed on September 12, 2023, with detailed work commencing earlier this month. Results are expected towards the end of Q4 2023. Stantec is completing two studies for the Company.The first is a global stability evaluation of the permitted existing tailings storage facility (TSF) to determine the amount of additional capacity within the TSF if converted to dry stack tailings deposition. This work will use stability factors which meet or exceed stability factor of safety values provided by the Canadian Dam Association. The second is a scoping-level study on the layout and capacity of a new TSF within the current boundaries of the Environmental Impact Assessment (MIA).Dry stack tailings deposition has several environmental advantages. Process water is removed and returned directly to the plant during the filtration process. The per-tonne impoundment area is reduced compared to conventional wet deposition. Dry tailings are more stable and the potential for liquification during a seismic event is reduced compared to a saturated conventional tailings facility.The new TSF at La Guitarra, which is fully permitted for dry stack tailings would have an ultimate capacity of 5.8 million tonnes, which is in addition to the existing TSF. The Company is undertaking this work in order to examine possibilities to reduce capital outlays necessary to reopen the mine. If the existing TSF or a new TSF within the existing permit can be opened using dry stack tailings deposition, the Company believes construction of the larger permitted TSF has the potential to be financed out of future cash flows.Extension of Subscription ReceiptsSierra Madre announces that, further to the Company's news releases dated May 31, 2023 and September 14, 2023 (the \" the News Releases\"), the Company has amended the terms of all 5,123,092 subscription receipts (each, a...