We have a portfolio of Development projects in Canada, Chile and Peru with over 13m gold equivalent ounces of resources

Crespo

Crespo is 100% owned by Hochschild and is located in our existing operating cluster in southern Peru, approximately 145 kilometres southwest of Cuzco. Crespo is a disseminated high sulphidation epithermal deposit. The Group does not expect to face any accessibility issues at the Crespo mine.

In January 2012, the Group announced the positive results of the feasibility study, which was overseen by Ausenco, an independent consultant Hochschild’s environmental impact statement and construction permit for Crespo have already been approved. The study estimates average annual total silver equivalent production of 3.0 million silver equivalent ounces from a 6,850 tonne per day open pit operation. Current project economics do not factor in almost 3.8 million tonnes of in-pit inferred resource, and in addition, there is further geological potential to the north of the current feasibility study resource base at the Queshca gold target

Azuca

The Azuca project is wholly owned by the Group and is located in the Group’s existing operating cluster in southern Peru. In January 2012, the Company announced that it had decided to delay a Feasibility Study process and continue exploration work at the project in order to provide a more comprehensive picture of the dispersed vein structures present in the area and potentially deliver a more robust and value accretive project going forward.

As of 31 December 2021, Measured and Indicated Mineral Resources amounted to 7.1 million tonnes at 0.77 grams per tonne of gold and 188 grams per tonne of silver containing 173,500 ounces of gold and 42.7 million ounces of silver. Inferred Mineral Resources amounted to 6.9 million tonnes at 0.89 grams per tonne of gold and 170 grams per tonne of silver per tonne containing 199.5 thousand ounces of gold and 37.9 million ounces of silver.