Kinross Gold Corporation




2016 / 01 / 19




1.05% NSR

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.

In November 2021, Kinross announced results from the Lobo-Marte Feasibility Study, which reaffirmed the project has the potential to be a long-life asset with a large production profile and low costs. The project is planned as an open pit, heap leach and SART (Sulphidization, Acidification, Recycling and Thickening) plant operation that will mine the Marte and Lobo deposits in succession, as previously contemplated in the 2020 Pre-feasibility Study.

As of October 2021, the Probable reserves are 6.7 Moz gold contained in 160.7 Mt grading 1.3 g/t gold, (using appropriate cut-off grades based on $1,200/oz gold price) and Indicated resources are 2.4 Moz of gold contained in 99.4 Mt grading 0.7 g/t gold. Inferred resources include 445 koz gold contained in 18.4 Mt grading 0.75 g/t gold (Indicated and Inferred resources are exclusive and are based on appropriate cut-off grades calculated using $1,600/oz gold price).

The Feasibility Study estimates construction beginning in 2025 at the earliest, with first production expected in 2027, subject to a positive development decision. Lobo-Marte’s mine life is expected to be 16 years, comprised of 14 years of mining and two years of residual processing. For more information, visit

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 Activity

    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 will provide the detailed engineering and project description required for permitting and submission of an Environmental Impact Assessment.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

Investor Presentation

Download the latest Investor Presentation to learn why Sandstorm is a gold investment that stands out from the rest.


Asset Handbook

With 250 royalties acquired since 2009, we offer an exciting investment opportunity in a diverse portfolio of royalty assets. Discover all of Sandstorm’s royalties around the globe.


Annual Report

Our 2023 Annual Report includes our annual Financial Statements and Management Discussion & Analysis and a letter from Sandstorm’s President & CEO.


Sustainability Report

Learn more about Sandstorm’s approach to sustainability including our due diligence process, mining partnerships, and employee engagement.