8-K/A: DynaResource Files Initial Technical Report Summary for San Jos de Gracia Gold Project

DynaResource, Inc. announces the filing of its initial Technical Report Summary (TRS) for the San Jos de Gracia Gold Project in Sinaloa State, Mexico, prepared in accordance with SEC regulations.

Summary

• DynaResource, Inc. has filed its initial Technical Report Summary (TRS) for the San Jos de Gracia Gold Project in Sinaloa State, Mexico.
• The TRS was prepared according to Subpart 1300 of Regulation S-K as promulgated by the U.S. Securities and Exchange Commission.
• The report includes a Mineral Resource Estimate and a Mineral Reserve Estimate for the project.
• The effective date of the TRS is March 24, 2025.
• The San Jos de Gracia Gold Project is an operating underground mine with a flotation process plant.
• The project is located approximately 120 km east-northeast of Los Mochis in Sinaloa State, Mexico.
• The property covers an area of 3,970 hectares and is covered by 29 mining concessions.
• The company has a surface lease agreement covering 28,374 ha.
• The Mineral Resource Estimate at a 2.0 g/t Au cut-off includes 286,000 tonnes Indicated at 6.74 g/t Au (62 koz Au) and 97,000 tonnes Inferred at 4.37 g/t Au (14 koz Au).
• The Mineral Reserve Estimate includes 1,114,000 tonnes Proven at 5.23 g/t Au (187.2 koz Au) and 493,000 tonnes Probable at 4.18 g/t Au (66.3 koz Au).
• The mine plan has an average production rate of ~230 ktpa.
• The LOM total capital cost is estimated at $81.4M.
• The yearly operating cost averages $155.85/t, LOM.
• The overall after-tax NPV of the Project is estimated at $84.4M (using a 5% discount rate and $2,500/oz Au).

Sentiment

Score: 7

Explanation: The document is a technical report summary, presenting factual information about the project. The sentiment is neutral to positive, reflecting the positive economic indicators and the ongoing operation of the mine.

Positives

• The San Jos de Gracia Gold Project has a defined Mineral Reserve and is an operating mine.
• The project has a positive after-tax NPV of $84.4M at a 5% discount rate and $2,500/oz Au.
• The company has secured all required environmental permits and surface rights.
• The project has a surface lease agreement covering 28,374 ha.
• The project has a water concession for 1,000,000 m3 per year.

Negatives

• The project is located in a remote area with limited infrastructure.
• The project relies on diesel-generated power for industrial use.
• The project has a relatively high operating cost of $155.85/t.
• The project is sensitive to fluctuations in the gold price, metallurgical recoveries, and head grades.

Risks

• Uncertainty in geological interpretation may affect Mineral Resource estimates.
• Local variations in bulk density may affect tonnage.
• Historical mined areas may not be surveyed accurately, which could cause over or under depletion.
• A main access road washout or landslide blockage could disrupt operations.
• A TSF embankment failure could cause environmental damage and disrupt operations.
• Excessive power interruptions could disrupt operations.

Future Outlook

The company plans to continue exploration and development activities to expand the Mineral Resource and improve operational efficiencies.

Industry Context

The announcement positions DynaResource within the context of other gold mining operations in Mexico and highlights its commitment to transparency and compliance with SEC regulations.

Comparison to Industry Standards

• The report references other epithermal gold-silver deposits in the Sierra Madre Occidental, such as the Tayoltita Silver-Gold Mine, to provide context for the potential of the San Jos de Gracia project.
• The report compares the down-dip extent of the San Jos de Gracia veins to other world-class epithermal gold deposits such as El Peon in Chile, Emperor in Fiji, and Tayoltita in Mexico.
• The report references the Grasberg Copper Mine in Indonesia as the 3rd largest gold mine in the world.

Stakeholder Impact

• The project provides employment opportunities for the local community.
• The project contributes to the local economy through taxes and royalties.
• The company is committed to operating in an environmentally responsible manner.

Next Steps

• Complete ~15,000 m of underground drilling to explore for new high-grade mineralization.
• Confirm mineralized vein continuity.
• Convert Inferred Mineral Resources to Indicated and Measured Mineral Resources.
• Delineate new mineralized structures adjacent to the active mining areas.
• Implement improved QA/QC protocols.
• Re-assay batches HMS21001226, HMS22000022, and HMS24000126 to confirm drill core sample results.

Key Dates

Keywords

Mineral Resource Estimate, Mineral Reserve Estimate, San Jos de Gracia Gold Project, DynaResource, Gold, Mining, Mexico, Sinaloa