The Gualcamayo deposit, located in San Juan, recorded the highest concentration of gold detected in the history of the mine, amid the development of a USD 665 million project that was incorporated into the Large Investment Incentive Regime (RIGI).
Minas Argentinas, a company belonging to AISA Group, reported that a drilling conducted within the Deep Carbonates Project (DCP) found an intersection of 1.80 meters with 1,510 grams of gold and 1,250 grams of silver per ton.
Mina Gualcamayo
The result was obtained through underground drilling 26QD-1649, within the so-called Santiago body. According to the information released by the company, the concentration exceeds more than ten times the historical maximums recorded during the exploration activities of the deposit.
The discovery is significant because it occurred within a mining complex that already has infrastructure, access, camps, operational facilities, and connection to the high-voltage power grid.
Currently, Gualcamayo has 7.14 million ounces of gold in measured, indicated, and inferred resources, in addition to more than 3.1 million ounces corresponding to proven and probable reserves, according to technical information audited under the international standard NI 43-101.
Within the complex, Deep Carbonates concentrates 4.86 million ounces in resources and 2.43 million ounces in reserves. The project plans to develop a new underground mine and build a pressure oxidation plant to process the ore.
AISA Group will present a second RIGI for USD 1.5 billion to expand Gualcamayo
AISA Group plans to invest USD 665 million and begin commercial production between 2030 and 2031. The initiative was incorporated into the RIGI through Resolution 6/2026 of the Ministry of Economy. During the construction phase, it is estimated that more than 1,500 direct jobs will be created, while the future operation is expected to have an estimated lifespan of 30 years and an average production close to 166,000 ounces of gold annually.
The company's projections also estimate accumulated exports exceeding USD 26 billion throughout the operational cycle. The potential for expansion could still change with new explorations. So far, historical campaigns have covered only 4% of the mining property of the group.
