may 2015 3 month plan report

View from Botija Quarry Eastern Access towards Pre‐stripping Entrance

Cobre Panama Botija Pre‐Stripping 3 Month Plan

May 2015

Botija Pre‐strip 3 Month Plan Summary

Summary volumes of material excavated from the pre‐strip areas are as follows:

Access to the pre‐strip area is through the western portion of the botija quarry. This access road has not yet been completed. The 3 month plan assumed that at the end of April the access road had been completed.

The top pre‐stripping priorities are as follows:

1. Complete road to access the beginning of the pre‐strip area via the western portion of the botija quarry.

2. Construct dams 8A and 8B for sediment control. 3. Clear trees progressively as per the progression of the 3 month pre‐strip plan. 4. Construct Pre‐strip access road in a westerly direction starting from the western extent of

the botija quarry. 5. Continue pre‐stripping as per the 3 month plan maps attached to this report.

Tree cutting approval has been granted for all areas that will be affected by the May‐July pre‐stripping activities. A map of the approved tree cutting areas is attached to this document. Approximately 85.1Ha should be cut in Q2 2015.

Pre‐stripping Access

Access to the pre‐strip area will be through the western side of the botija quarry. This pre‐strip access road is currently being developed and will need to be advanced significantly before pre‐stripping begins.

The main access road should be constructed 25m wide with approximately 1.5m of rock on the rolling surface. These roads will be used by both 740 and 777 haul trucks.

Shorter duration roads where 777 haul trucks are not used should be constructed 15m wide.

Botija Pit Pre‐Stripping Cut Volumes by MonthMay 2015 3 Month Plan

Month Saprolite Saprock Waste Saprock Ore Mineralized Waste Waste Rock TotalMay 270,109 97,378 7,495 1,250 ‐ 376,232 June 531,307 38,006 ‐ ‐ 1,250 570,563 July 549,482 41,726 ‐ ‐ 1,250 592,458 Total 1,350,898 177,110 7,495 1,250 2,500 1,539,253

Cut Volume (bcm)

Roads are generally at a maximum 10% grade although to reach the tops of some hills 15% gradients should be used for the last 10‐15m vertical lift (67m‐100m road length).

Tree Clearing

Tree clearing has been approved for the areas where in‐pit excavation work will be performed during the May‐July period.

Approximately 85.1Ha has been approved to be cleared in Q2 2015. Of this, 2.8Ha is for the initial portion of the MSA platform and the remainder is within the Botija Pit pre‐stripping area.

Additional tree clearing is required at the conveyor fill platform and is not included in the 85.1Ha mentioned above. Approval has been granted for this area.

Tree clearing areas should be prioritized as per the development of the pre‐stripping plan. In general, the pre‐stripping activities progress in a north‐south direction from the Pre‐stripping access road design.

In June further areas will be submitted to be approved for tree clearing.

Pre‐stripping Production Activities

The 3 month pre‐stripping plan details are highlighted in the attached maps and tables. The majority of the material excavated will be saprolite. As such, rock for pre‐stripping activities will need to be supplied from a borrow source, preferably the Botija quarry. Some larger fill requirements within the pre‐strip area will also be required to provide sufficient access road width to excavation areas. The table below provides an estimate of borrow source rock and major fill requirements.

Summary: Botija Pit Pre‐Stripping Rock and In‐Pit Fill Volumes RequirementsMay 2015 3 Month Plan

MonthQuarried Rock

RequiredMajor in‐pit fill requirements

May 53,326 14,900 June 152,924 77,446 July 143,071 2,662 Total 349,320 95,008

Volumes (bcm)

As part of the planning process 50% of excavated saprock waste was considered to be a substitute for waste rock for use in the pre‐stripping area and in the dumping locations. A lower substitution percentage will result in higher requirements of borrowed rock.

Pre‐strip Excavation Priorities

Once pre‐stripping begins, the excavation priorities are as follows:

1. Develop the pre‐strip access road in a westerly direction starting from the westerly extent of the botija quarry.

2. Develop the MSA early access road once the pre‐strip road has progressed far enough. 3. Excavate saprolite from the hill located immediately to the east of the MSA early access

road. This hill will be our principal initial source of waste rock in Q3 and Q4 2015. There is approximately 800,000bcm of saprolite and saprock to be removed from this hill before rock is encountered.

4. Continue road development (northwest stripping road) to reach upper elevations along the western edge of the Botija pre‐stripping area.

5. Bulk mine areas radiating off the Pre‐strip access road as per the plan development maps.

Benching will be completed on 5m lifts. Saprolite and saprock slopes will be cut with 68o bench face angles and a 5.7m catch bench every 5m vertically.

Water Management

The majority of water runoff from the excavations will flow south towards the Botija River or directly north towards the future tailings facility.

On the very western extent of the pre‐strip that is reached at the end of June and in July there is some water runoff that will flow west and then north towards the tailings facility.

Dams 8A and 8B will be required to be operational before pre‐stripping begins.

Sediment control structures will also be required along various key locations of the north facing excavation fronts.

No major pump requirements are expected as water should flow by gravity away from working areas.

Waste Dumping

Until the MSA early access road is completed at the end of June, excavated waste materials will be sent to the conveyor fill platform located at the botija saprolite dump.

Once the MSA Early Access Road is completed, waste should start to be placed there in addition to the Conveyor Fill Platform. However, the conveyor fill platform will remain the priority dumping location.

Waste Dumping Priorities:

1. In‐pit fill locations – where possible, material should be dozed from surrounding hills into these areas.

2. Conveyor fill platform via the botija saprolite dump 3. MSA platform

Ore Control

No ore is expected to be encountered during the May‐July Period with the exception of a minor amount of saprock ore.

As there is no ore stockpile area developed yet, saprock ore should be buried within the central portion of the conveyor fill platform, a minimum of 5m from any final design surface.

No rigorous rock sampling program is expected to be initiated in the May to July period. Geology will be required to make frequent visits to the pre‐stripping area to determine if there is any saprock ore. Any saprock ore encountered will need to be flagged and dealt with separately from non‐ore materials.

Later in the pre‐strip period ore will start to be stockpiled and managed separately from saprolite and other excavated waste materials.

Summary: Botija Pit Pre‐Stripping Cut VolumesMay 2015 3 Month Plan

Month Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur TotalMay 270,109 ‐ ‐ 97,378 ‐ 7,495 ‐ 1,250 376,232 June 531,307 ‐ ‐ 38,006 ‐ ‐ ‐ ‐ ‐ 1,250 563,224 July 549,482 ‐ 21,726 20,000 ‐ ‐ ‐ ‐ ‐ 1,250 592,458 Total 1,350,898 ‐ 21,726 155,384 ‐ 7,495 ‐ 1,250 ‐ 2,500 1,531,914

NotesLow sulphur material is defined as having sulphur <0.3%Mineralized Waste during the pre‐stripping period can be treated as waste rock

Summary: Botija Pit Pre‐Stripping Rock and In‐Pit Fill Volumes RequirementsMay 2015 3 Month Plan

MonthQuarried Rock

RequiredMajor in‐pit fill requirements

May 53,326 14,900 June 152,924 77,446 July 143,071 2,662 Total 349,320 95,008

Volumes (bcm)

Cut Volume (bcm)Saprolite Saprock Waste Saprock Ore Mineralized Waste Waste Rock

SURPAC - GEOVIA

msacutq22015_for_perth_approval_str_02

FELLING IN PROGRESS

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539000E

539500E

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977500N 977500N

978000N 978000N

978500N 978500N

GEOVIA

Scale: 1: Plan No. Date:

Q2 2015 Approved Tree Cutting AreasBotija Pre-strip

10000 08-May-15

Botija Quarry

Saprolite Waste Dump/Entrance to Conveyor Fill Platform

Q2 approved treecutting areas

Q2 approved treecutting areas

Overlain on end of July 2015 Map

SURPAC - GEOVIA

apr2015_start_prestrip_v2_str_02

537000E537000E

537500E537500E

538000E538000E

538500E538500E

539000E

539500E

977000N 977000N

977500N 977500N

978000N 978000N

978500N 978500N

GEOVIA


Botija Pit Pre-stripStart of Pre-strip - End of April 2015

May 2015 3 month plan

10000 07-May-15


Botija Quarry

Entrance to Pre-strip

140m

SURPAC - GEOVIA

may2015_v3_pic_str

537000E537000E

537500E537500E

538000E538000E

538500E538500E

539000E

539500E

977000N 977000N

977500N 977500N

978000N 978000N

978500N 978500N

GEOVIA


Botija Pit Pre-stripEnd of May 2015


10000 07-May-15

Botija Quarry


Fill Areas

140m

160m

SURPAC - GEOVIA

jun2015_v3_pic_str

GEOVIA


Botija Pit Pre-stripEnd of June 2015


10000 07-May-15

Botija Quarry


140m

170m

150m

160m

MSA Early Access Road

Fill Areas

Southern AccessRoad Fills

SURPAC - GEOVIA

jul2015_v3_pic_str

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539000E

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977000N 977000N

977500N 977500N

978000N 978000N

978500N 978500N

GEOVIA


Botija Pit Pre-stripEnd of July 21013


10000 07-May-15

Saprolite Waste DumpEntrance to Conveyor Fill Corridor

Botija Quarry

140m

145m

135m

160m

150m

185m

NorthWest StrippingRoad Fill

SURPAC - GEOVIA

access_road_rev6_str_01

537000E537000E

537500E537500E

538000E538000E

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977000N 977000N

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GEOVIA


Botija Pit Pre-stripPre-Strip Access Road

7500 07-May-15

Botija Quarry


190m 180m

170m

170m

160m

140m

Fill

Fill Fill

SURPAC - GEOVIA

ss_1_rev6_v2_str

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GEOVIA


Botija Pit Pre-stripSub-Stage 1 Design

7500 07-May-15

Botija Quarry170m

120m

160m

175m

195m

140m


150m

130m

Fill

Fill

Fill

SURPAC - GEOVIA

ss_2_rev6_v2_str

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Botija Pit Pre-stripSub-Stage 2 Design

7500 07-May-15

120m

140m

130m


Main M

SA A

ccess Road

Access

to Botija W

aste D

ump

Botija Quarry

Sub-Stage 2Excavation Limit

Botija Pit Pre‐Stripping Volume by BenchMay 2015 3 Month PlanPeriod: May 2015

Bench Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Total165 3,030 3,030 160 22,349 22,349 155 41,416 41,416 150 71,509 71,509 145 59,908 48,027 3,745 111,680 140 71,897 49,351 3,750 1,250 126,248

Total 270,109 ‐ ‐ 97,378 ‐ 7,495 ‐ 1,250 376,232

Saprolite Saprock Waste Saprock Ore Mineralized WasteVolume (bcm)

Botija Pit Pre‐Stripping Tonnes SummaryMay 2015 3 Month PlanPeriod: May 2015

Material Type Tonnes Cu% Mo (ppm) Au (ppm) Ag (ppm)Saprolite 410,904 0.000 0.00 0.00 0.00 Saprock Waste 247,341 0.119 32.97 0.05 0.86 Saprock Ore 19,038 0.225 27.08 0.04 0.62 Mineralized Waste 3,300 0.134 22.33 0.05 0.98 Grand Total 680,583 0.050 12.85 0.02 0.34

Botija Pit Pre‐Stripping Volume by BenchMay 2015 3 Month PlanPeriod: June 2015

Bench Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Total185 3,481 3,481 180 10,054 10,054 175 30,276 30,276 170 21,270 21,270 165 12,932 12,932 160 50,490 52,441 155 114,002 ‐ ‐ ‐ 123,404 150 151,544 171,817 145 62,949 34,256 1,250 107,750 140 66,030 3,750 23,126 135 3,086 1,480 130 864 864 125 318 318 120 2,070 2,070 115 1,401 1,401 110 540 540

Total 531,307 ‐ ‐ 38,006 ‐ 1,250 563,224

Volume (bcm)Saprolite Saprock Waste Waste Rock

Botija Pit Pre‐Stripping Tonnes SummaryMay 2015 3 Month PlanPeriod: June 2015

Material Type Tonnes Cu% Mo (ppm) Au (ppm) Ag (ppm)Saprolite 3,300 0.053 3.10 0.01 0.45 Saprock Waste 805,569 0.000 0.00 0.00 0.00 Saprock Ore 96,534 0.051 2.97 0.02 0.59 Grand Total 905,403 0.006 0.33 0.00 0.07

Botija Pit Pre‐Stripping Volume by BenchMay 2015 3 Month PlanPeriod: July 2015

Bench Low Sulphur High Sulphur Low Sulphur High Sulphur Low Sulphur High Sulphur Total190 13,203 13,203 185 25,044 25,044 180 9,521 9,521 175 9,226 9,226 170 40,330 40,330 165 85,638 85,638 160 26,923 ‐ 21,726 1,250 ‐ 49,899 155 52,478 52,478 150 79,478 79,478 145 143,059 1,250 144,309 140 35,581 17,500 1,250 54,331 135 29,001 29,001

Total 549,482 ‐ 21,726 20,000 ‐ 1,250 592,458

Volume (bcm)Saprolite Saprock Waste Waste Rock

Botija Pit Pre‐Stripping Tonnes SummaryMay 2015 3 Month PlanPeriod: July 2015

Material Type Tonnes Cu% Mo (ppm) Au (ppm) Ag (ppm)Saprolite 3,300 0.053 3.10 0.01 0.45 Saprock Waste 830,535 0.000 0.00 0.00 0.00 Saprock Ore 105,984 0.056 4.21 0.02 0.64 Grand Total 939,819 0.007 0.49 0.00 0.07

Botija Pit Pre‐Stripping Quarry Rock Source RequirementsMay 2015 3 Month PlanPeriod: May 2015

bcm CommentsRock for Operations 34,576 for use with saprolite above elevation 150m (25% of saprolite)Road Running Surface 18,750 1.5m road topping, approx 500m of semi‐permanent road, 25m wideRock for Operations ‐ for use with saprolite below 150m . Assume all rock and 50% of saprock can be used for rock substituteTotal 53,326 no contingency

.Botija Pit Pre‐Stripping In‐pit Filling RequirementsMay 2015 3 Month PlanPeriod: May 2015

lcm CommentsTotal 14,900 no contingency, fill for 25m road access

Botija Pit Pre‐Stripping Quarry Rock Source RequirementsMay 2015 3 Month PlanPeriod: June 2015

bcm CommentsRock for Operations 112,574 rock fill with saprolite (25% of saprolite). 50% of saprock can be used as rock substituteRoad Running Surface 17,625 1.5m road topping, approx 470m of semi‐permanent road, 25m wideMSA early access road 13,950 MSA early access road, 1.5m road topping, 620m of semi‐permanent road, 15m wideSouthern Access road 8,775 southern exavation access road, 1.5m road topping, 390m of high volume road, 15m wideTotal 152,924 no contingency

.Botija Pit Pre‐Stripping In‐pit Filling RequirementsMay 2015 3 Month PlanPeriod: June 2015

lcm CommentsTotal 77,446 no contingency, fill for MSA early access road and fill access road to southern excavation

Botija Pit Pre‐Stripping Quarry Rock Source RequirementsMay 2015 3 Month PlanPeriod: July 2015

bcm CommentsRock for Operations 126,121 rock fill with saprolite (25% of saprolite). 50% of saprock can be used for rock substituteRoad Running Surface 7,500 1.5m road topping, approx 200m of semi‐permanent road, 25m wideNorthWest Stripping road 9,450 western stripping access road, 1.5m road topping, 420m of high volume road, 15m wideTotal 143,071 no contingency

.Botija Pit Pre‐Stripping In‐pit Filling RequirementsMay 2015 3 Month PlanPeriod: July 2015

lcm CommentsTotal 2,662 For NorthWest Stripping road

may 2015 3 month plan report

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