Overview
| Location | Iberian Pyrite Belt, Huelva Province of Andalucia, Southern Spain |
| Metals | Copper, Zinc, Lead, Gold, Silver |
| Mine Type | Underground |
| Ownership | 100% owned by Denarius Metals |
| Technical Report | SRK NI 43-101 Technical Report Mineral Resource Estimate, November 2, 2023 |
The Lomero Project is a high-grade copper, zinc, lead, gold and silver project. The project was acquired by Denarius Metals in April 2021 and is owned and operated through its Spanish subsidiary Alto Minerals S.L.U.
Location
The Lomero Project is located in Southern Spain’s Iberian Pyrite Belt (IPB), the world’s largest concentration of massive sulfides in the world. Located in the Huelva Province of Andalucia, it is about 400 km SW of Madrid, 135 km WNW of Seville, and 100 km to the Huelva Port.
It is near several producers and projects, and has access to water, power, paved highways, high-capacity processing facilities, and labour.
The Lomero Project is ~10 km west of the Aguas Teñidas mine, owned by Sandfire MATSA, and ~3 km east of the dormant San Telmo mine.
Project Overview
The Lomero Project is in a prolific, supportive, and historic mining jurisdiction with mining dating back to Roman times.
The project has a long history of production with mining starting in the 1850’s from two historic open pits, Lomero (east) and Poyatos (west). Since 1905 until the mine closed in 1990, the deposit was mined underground on six levels.
The gold grades at Lomero are some of the highest known in the IPB.
The project consists of two deposits, the Lomero-Poyatos deposit and the Palomarejo deposit.
Lomero-Poyatos deposit:
- 454 hectares
- Rubia Investigation Permit No 14,977 was extended in early 2023 until 2026
- Includes former mine workings in the deposit
Palomarejo deposit:
- 151 hectares
- Investigation permit No 14,978 was granted in early 2023 until 2026
- Adjacent to and on strike with the mineralized Lomero-Poyatos deposit
Geology and Exploration Overview
The Lomero Project is in the northeastern part of the IPB, which spans over 230 km and a width of 40 to 60 km. The Volcanogenic Massive Sulfide (VMS) deposits of the IPB, including Lomero, are syngenetic having formed by volcano sedimentary exhalative processes.
Historically, a total of 98 surface holes and 61 underground holes had been completed on the Project by the previous owners for a subtotal of ~23,500 meters.
Since acquiring the project, Alto Minerals completed a three-phase validation and in-fill drill program of over 47,000 meters in 149 drill holes resulting in an updated Mineral Resource in September 2023.
Exploration includes lithological logging of the geological model, geological mapping, geophysical studies.
Greenfield exploration outside the footprint of the deposit and at depth is planned to expand the resource.
