Kinross Gold Corporation


1.05% NSR

Acquisition Date

2016 / Jan / 19

Lobo-Marte is located in the Maricunga Gold District of Chile and contains two epithermal gold deposits that are seven kilometres apart. The project is 100 km east of the city of Copiapó and 60 km south of Kinross’ La Coipa mine.

A Pre-Feasibility Study (“PFS”) was completed in 2020 which adds 6.4 million ounces of probable reserves with an estimated potential total life-of-mine production of approximately 4.5 million ounces of gold. The PFS envisions an open pit heap-leach and SART (Sulphidization, Acidification, Recycling and Thickening) operation mining the Marte and Lobo deposits over a 15-year mine life. Pending a positive development decision production would commence after mining concludes at the La Coipa project. As of June 30, 2020 the Probable Reserves are 6.4 million gold ounces contained in 146.8 Mt grading 1.4 g/t gold. For more information see www.kinross.com.

Sandstorm holds a 1.75% NSR royalty on 60% of future production (equivalent to 1.05%) and is capped at $40 million. The royalty was acquired as part of a package of royalties from Teck Resources.

Recent Activities

February 2021
The Feasibility Study continues to advance and is expected to be completed in the fourth quarter of 2021. Kinross is targeting production at Lobo-Marte in 2027, with construction potentially starting in 2025.

July 2020
Kinross will commence a feasibility study during the second half of 2020 with scheduled completion by the end of 2021. The feasibility study is expected to provide the detailed engineering and project description required for permitting and submission of an Environmental Impact Assessment.

Lobo Marte


Lobo Marte Royalty Map
Lobo Marte Royalty Map