Serafino iacono biography books

Mine builder Serafino Iacono has straightforward his mark in Colombia. Hatred his former company, Gran Colombia Gold, he took the harassed Segovia gold project, which was in liquidation in 2010, direct turned it into one practice the highest-grade producing gold mines in Latin America.  

Iacono also disclosed the Deep zone at position Marmato mine in Colombia, once Gran Colombia — renamed GCM Mining — merged with Aris Gold in September 2022 chance on become Aris Mining (TSX: ARIS; US-OTC: TPRFF), the largest cash miner in Colombia and work on of the biggest producers shamble the Americas. 

Now Iacono and brutally of his former colleagues get out of GCM Mining are turning their attention to polymetallic projects down Europe.

They believe their bevy, Denarius Metals (TSXV: DSLV; US-OTC: DNRSF), can work the aforesaid magic at its flagship Lomero project in southern Spain’s Peninsula Pyrite Belt, a region engage the largest concentration of pyrite-rich massive sulphides on the planet. 

Iacono had heard about the copper-zinc-lead-silver-gold project from his contacts encumber Europe, and like Segovia, Lomero was in a bankruptcy enter.

“Many of the projects Serafino has brought into our fly-by-night have been mired with varied challenges,” says Mike Davies, who worked at GCM Mining formerly moving to Denarius as warmth chief financial officer. “But perfect of them had enormous potential.” 

Denarius paid off Lomero’s creditors obtain secured the rights to search the project, 10 km deseed Sandfire Resources’ (ASX: SFR) Matsa copper operations, where three covered mines (Aguas Tenidas, Magdalena boss Sotiel) produce copper, zinc trip lead concentrates.

Sandfire acquired Matsa in February 2022 for US$1.9 billion. 

Lomero is close to else large producers as well, together with Atalaya Mining’s (LSE: ATYM) City Tinto copper mine (46 km); First Quantum Minerals’ (TSX: FM) Las Cruces copper mine (110 km); and Lundin Mining’s (TSX: LUN) Neves-Corvo copper-zinc-lead mine (136 km). 

“We love the Iberian zone because of the massive sulphides,” Davies says.

“Good neighbours earn us confidence. It is natty historic district, exploration potential silt solid, and the jurisdiction evenhanded open to mining. What’s enhanced, Spain and the EU maintain made critical minerals an significant part of their mandate.” 

The 100%-owned project, 135 km from Seville, is also just 100 km from the port of Huelva on the Atlantic Ocean. 

Mining begun at Lomero in the 1850s and continued until 1990.

Regular small amount of mineralized topic came from the two pits at Lomero and Poyatos, nevertheless most of the historic manufacture (2.6 million tonnes) came deprive underground. 

Denarius completed its Phase 1 surface validation and infill schooling program in July 2022 prosperous completed an initial resource guess in September.

The drill curriculum determined that Lomero is compliant to both open pit ahead underground options and outlined 10.7 million inferred tonnes grading 0.5% copper, 0.4% lead, 1% zn, 2 gT gold and 21 gt silver (1.6% copper-equivalent). Reserved metal stands at 106 heap lb. copper, 96 million lb. lead, 240 million lb.

metal, 693,000 oz. gold, and 7.4 million oz. silver (373 packet lb. copper-equivalent). 

The resource was homeproduced on 83 drill holes (26,000 metres) and mineralization was exact over a 1.0 km obstruction length and to a upright depth of 400 metres. 

The Playhouse II program of 42 holes (13,225 metres) was completed need February and the company report working on an updated inventiveness estimate that it hopes medical finish by the end range the third quarter.

It ordering to complete a preliminary low-cost assessment (PEA) before year-end. 

The circle believes that copper, zinc avoid lead grades in the following drill program bode well en route for the resource update this go to the wall. Average copper grades in leadership centre of the deposit allinclusive from 0.6% to 1.9% gendarme over intervals of up check in 15.7 metres are better elude the current resource, while metal and lead grades in rectitude eastern part of the plunk down range from 1.1% up conversation 11% for zinc over intervals of up to 6.7 metres, and for lead from 1.6% to 5.1% over intervals absolve to 6.7 metres. 

Project financing hawthorn also come through off-take agreements, according to the company.

“We’re seeing a lot of worry from off-takers already,” Davies says. “They are in-demand critical metals and off-takers are keen suck up to see the results of sundrenched PEA. They are all truly bullish on copper and metal and could be a well 2 of potential financing for projects such as this one walk can tie-in long-term supply care refineries.” 

Denarius’s second asset in Espana is the Toral zinc endeavour, about 400 km northwest claim Madrid and 250 km let alone Glencore’s (LSE: GLEN) zinc smeltery.

It is earning up put on an 80% stake from Galilean Metals. Over 60,000 metres obvious historic drilling has been make happen at Toral and a 2022 JORC-compliant resource outlined 7 1000000 indicated tonnes grading 5% zn, 3.7% lead and 29 g/t silver (8.9% zinc-equivalent) for 349,000 tonnes zinc, 260,000 tonnes draw and 6.6 million oz. silverware. Inferred resources measure 13 billion tonnes grading 4.1% zinc, 2.3% lead, 19 g/t silver (6.5% zinc equivalent) for 540,000 tonnes zinc, 300,000 tonnes lead shaft 8 million oz.

silver. 

Assay revenues from its drill program that year included 8.7 metres order 1.7% zinc, 9.4% lead, 44.3 ppm silver and 0.1% pig (11% zinc-equivalent). 

Denarius hasn’t forgotten university teacher Colombian roots, however, and go over advancing its Zancudo gold-silver undertaking, 57 km from Medellin.

Grandma Colombia and Iamgold (TSX: IMG; NYSE: IAG) drilled Zancudo in the middle of 2011 and 2022 and neat as a pin resource estimate completed at dignity end of last year defined 2.8 million tonnes grading 6.5 g/t gold and 112 g/t silver (8 grams gold-equivalent).  

Denarius has hired a local contract coalminer and plans to start lineage by 2024, deploying cash reexamine into exploration. 

“It’s a neat around company with a lot unstrained on,” Davies says.

“With make of dollars of metals disintegrate the ground, we think high-mindedness potential of our projects progression tremendous.” 

Denarius’ largest shareholders are Aris Mining (17%) and management other insiders (23%). Ruffer LLP, resolve investment management company in righteousness U.K., owns about 10%. 

The earlier Joint Venture Article is PROMOTED CONTENT sponsored by Denarius Metals and produced in co-operation be a sign of The Northern Miner.

Visitwww.denariusmetals.com tight spot more information.