Location
Junín Province, Peru
Commodity
Gold (with silver, lead, copper, zinc byproducts)
Stage
Pre-Production / Advanced Exploration
Ownership
Basic Minerals (Peru), controlled by San Maurizo Mines Inc. (Canada)
Operator
Hudson Heartland
License Type
Historic Resource mining license (Peru small-scale designation)
The Mercedes Project is a 1,096-hectare high-potential gold asset located in Junín, Peru, approximately 220 km east of Lima. Hudson Heartland, through its partnership with San Maurizo Mines Inc. and Basic Minerals, is advancing Mercedes toward production under Peru’s regulatory pathway for junior operators.
This site leverages existing infrastructure, a signed community agreement, and a nearby toll mill just 12 km away—allowing the company to minimize capital expenditures while achieving early-stage production within 12 months.
– Proven: 12,747 tonnes @ 2.35 g/t Au (2,451 oz Au Eq.)
– Probable: 38,064 tonnes @ 3.60 g/t Au (7,222 oz Au Eq.)
– Possible: 251,000 tonnes @ 1.50 g/t Au (18,126 oz Au Eq.)
– Combined Historic Estimate: ~300,000 tonnes across six near-vertical gold-bearing veins
Mercedes ore will be shipped to a nearby toll milling facility during initial phases, avoiding the need for on-site processing construction. This approach significantly reduces capex while validating grades and recovery rates before investing in permanent infrastructure.
– Access road and portal development already underway
– First-year plan includes: advanced exploration, infrastructure rehabilitation, and initial stope development
– Goal: reach operational production at 100 tons/day capacity within 12 months
– Long-term development will focus on stope delineation and underground expansion
– Gold Price: $3,036.70 USD/oz (2025 benchmark)
– Operating Cost: $270 USD/tonne
– Capital Requirement: $1M USD (initial placement)
– IRR: 963% (unlevered model)
– NPV: $12.28M USD
– Forecast Gross Revenue: $97.8M USD over life of mine
– Forecast Net Earnings After Tax: $15.55M USD
– Fully permitted under Peru’s small-scale mining regulations
– Signed community agreement
– Local toll milling access
– Staged expansion opportunities to the north of the license
– Business model built on fast-track cash flow and modular growth
Initial development underway. Raising $1M USD via private placement to finalize access, exploration program, and first production phase.
Hudson Heartland – Latin America Operations