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La Colosa Development Mine

 
AngloGold

Key Facts

Commodity Gold
Location Colombia
Latitude: 4 deg 27 min N
Longitude: 75 deg 33 min W
Map
Satellite Image
Owners AngloGold Ashanti Ltd.
Production 700,000 oz per year
Deposit Type Porphyry gold
Reserves & Resources 468.8 Mt at 0.86 g/t gold for 12.9 Moz gold (2008)
Mining Life 20 years
Contact Information PO Box 62117
Marshalltown
South Africa
2107

Website: http://www.anglogold.co.za/Home
 

Last updated: January 12, 2011

Overview

The La Colosa Project is 100% owned by AngloGold Ashanti and is located 150 km west of Colombia's capital city, Bogota, in the department of Tolima.

Gold was the metal of choice of local Pre-Columbian populations but there were no prior mining or exploration activities in the project area before 2006 when AngloGold Ashanti's field team discovered the La Colosa gold deposit.

During a18 month period exploration drilling defined a porphyry style gold deposit amounting to 468.8 Mt grading 0.86 g/t gold for 12.9 Moz gold. The deposit remains open in several directions and has a good exploration potential.

Exploration was stopped in 2008 on environmental grounds but a partial permit was later granted by the central government.

A conceptual economic study was completed in 2008 and it envisages a mining operation that would produce about 700,000 oz gold per year over a mine life of 20 years.

Initial investment would total 3 billion dollars.

Location

Colombia is located in the northwestern part of the South American continent and it is bordered by the Pacific Ocean to the west and the Caribbean Sea to the north.

Spanish conquistadores defeated a powerful confederation of Chibca tribes in 1537 and subjugated the country.

Indigenous people like the Muisca tribes were skilful miners of emeralds, copper, and coal and they were also renowned for their beautiful gold crafts.

The Colosa deposit is located over the middle part of the Central Cordillera of Colombia at 8 km northwest of the town of Cajamarca (9,309 people) and at 30 km at the west of Ibague, the capital of the Tolima Department.

Tolima is one of the 32 departments of Colombia and is located in the Andes region. Original inhabitants of the land, the Pre-Columbian indigenous Panches tribes, were fierce warriors that fought Muisca for control of the Emerald mines.

The economy of Tolima is based on agriculture and it comes at no surprise that the region is also renowned for its autochthonous cuisine.

Magdalena River traverses Tolima from south to north.

Natural hazards include volcanic eruptions and occasional earthquakes.

Geology

The Colosa porphyry system is located in the middle of the Cordillera Central of Colombia.

La Colosa is part of a Miocene calc-alkaline volcano-plutonic arc of Colombia. There are three separated stages of intrusions each one carrying different amounts of gold. They are surrounded by narrow zones of hornfels and breccias that also carry significant quantities of gold.

Drilling to date had identified 468.8 Mt grading 0.86 g/t gold for 12.9 Moz gold. The deposit remains open in several directions and has a good exploration potential.

The Colosa system had intruded a package of Paleozoic low-grade metamorphic rocks of the Cajamarca Complex.

The deposit is partially covered by dacitic pyroclastic material of the Cerro Machín volcano.

La Colosa shares some similarities with other porphyry gold systems (Maricunga Belt) but it also displays differences ? they are related to its age (8.3 Ma); the metamorphic country rock in contrast with volcanic rocks that host other deposits; the presence of pyrrhotite; and its isolated location in Northern Andes.

Environment and Community

Exploration was stopped in 2008 on environmental grounds but a partial permit was later granted by the central government.

Water rights are to be negotiated with local communities.

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