Americas Silver Corporation Technical Report on the San Rafael Mine and the Ec120 Preliminary Feasibility Study, Sinaloa, Mexico

AMERICAS SILVER CORPORATION TECHNICAL REPORT ON THE SAN RAFAEL MINE AND THE EC120 PRELIMINARY FEASIBILITY STUDY, SINALOA, MEXICO NI 43-101 Report Qualified Persons: Daren Dell, P.Eng. Shawn Wilson, P.Eng. Niel de Bruin, P.Geo. James Stonehouse, SME (RM) Effective Date: April 3, 2019 Report Date: May 17, 2019 Americas Silver Corporation – San Rafael and EC120 Technical Report NI 43-101 – May 17, 2019 Table of Contents PAGE 1 SUMMARY ........................................................................................................... 1 EXECUTIVE SUMMARY .................................................................................................... 1 TECHNICAL SUMMARY .................................................................................................... 7 2 INTRODUCTION .................................................................................................20 QUALIFIED PERSONS AND SITE VISITS ...........................................................................21 SOURCES OF INFORMATION ...........................................................................................21 LIST OF ABBREVIATIONS ................................................................................................22 3 RELIANCE ON OTHER EXPERTS ......................................................................23 4 PROPERTY DESCRIPTION AND LOCATION ....................................................24 MINERAL RIGHTS ..........................................................................................................24 SURFACE RIGHTS .........................................................................................................25 ENVIRONMENTAL LIABILITIES AND WORK PERMITS ..........................................................25 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY .....................................................................................................................29 ACCESSIBILITY .............................................................................................................29 CLIMATE ......................................................................................................................29 LOCAL RESOURCES ......................................................................................................29 INFRASTRUCTURE .........................................................................................................29 PHYSIOGRAPHY ............................................................................................................30 6 HISTORY .............................................................................................................31 SAN RAFAEL AREA PRIOR TO 2004 ................................................................................31 SAN RAFAEL – EL CAJÓN AREA 2004 - 2010 ..................................................................34 DRILLING BY PLATTE RIVER GOLD .................................................................................34 GEOPHYSICAL SURVEYS BY PLATTE RIVER GOLD ...........................................................35 OTHER EXPLORATION AND PRODUCTION HISTORY .........................................................36 HISTORICAL MINERAL RESOURCE ESTIMATES ................................................................38 7 GEOLOGICAL SETTING AND MINERALIZATION ..............................................40 REGIONAL GEOLOGY ....................................................................................................40 LOCAL AND PROPERTY GEOLOGY ..................................................................................41 MINERALIZATION ...........................................................................................................44 8 DEPOSIT TYPES ................................................................................................48 9 EXPLORATION ...................................................................................................49 10 DRILLING ............................................................................................................50 11 SAMPLE PREPARATION, ANALYSES AND SECURITY ....................................55 SAMPLING METHODOLOGY AND APPROACH ....................................................................55 SAMPLE PREPARATION AND ANALYSIS ...........................................................................56 SAMPLE SECURITY .......................................................................................................57 Page i Americas Silver Corporation – San Rafael and EC120 Technical Report NI 43-101 – May 17, 2019 QUALITY ASSURANCE/QUALITY CONTROL ......................................................................57 12 DATA VERIFICATION .........................................................................................76 OVERVIEW OF THE DATABASES .....................................................................................76 DATABASE VERIFICATION ..............................................................................................76 13 MINERAL PROCESSING AND METALLURGICAL TESTING .............................78 ZONE 120 METALLURGICAL TESTING .............................................................................78 EL CAJÓN METALLURGICAL TESTING .............................................................................81 EC120 METALLURGY SUMMARY ....................................................................................82 PRODUCTION METALLURGICAL PERFORMANCE ..............................................................82 14 MINERAL RESOURCE ESTIMATES ...................................................................84 DOMAIN MODELS ..........................................................................................................85 BLOCK MODEL..............................................................................................................91 SAMPLE CODING AND COMPOSITING ..............................................................................91 GRADE INTERPOLATION ................................................................................................96 BULK DENSITY ..............................................................................................................98 NSR CUT-OFF VALUE ...................................................................................................99 RESOURCE CLASSIFICATION CRITERIA .........................................................................100 BLOCK MODEL VALIDATION .........................................................................................104 MINERAL RESOURCE CHANGES ...................................................................................105 15 MINERAL RESERVE ESTIMATES ....................................................................108 MINERAL RESERVE ESTIMATION ..................................................................................109 DILUTION ...................................................................................................................110 EXTRACTION ..............................................................................................................110 NSR CUT-OFF VALUE ................................................................................................. 111 CLASSIFICATION .........................................................................................................113 16 MINING METHODS ...........................................................................................114 SAN RAFAEL BACKGROUND .........................................................................................114 EC120 MINE DESIGN AND ACCESS ..............................................................................116 EC120 MINING METHOD .............................................................................................121 EC120 LIFE OF MINE PLAN .........................................................................................122 GEOTECHNICAL ASSESSMENT .....................................................................................124 EC120 VENTILATION ..................................................................................................126 MINE DEWATERING .....................................................................................................128 EC120 MINING EQUIPMENT ........................................................................................128 17 RECOVERY METHODS ....................................................................................130 SAN RAFAEL PROCESSING .......................................................................................... 130 EC120 PROCESSING ..................................................................................................132 TAILINGS DISPOSAL ....................................................................................................133 18 PROJECT INFRASTRUCTURE.........................................................................134 19 MARKET STUDIES AND CONTRACTS ............................................................138 20 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT ..........................................................................................................................139 Page ii Americas Silver Corporation – San Rafael and EC120 Technical Report NI 43-101 – May 17, 2019 ENVIRONMENTAL STUDIES ..........................................................................................139

Load more