Growth through Acquisition,
Exploration and Development
Exploration and Development
Consejo & El Carmen Properties
The Consejo and El Carmen Properties are located 1 hour driving time (85 kilometres) north of Durango, Durango State Mexico, via paved road. Both properties adjoin the Company's former San Agustin property.
La Joya - Glencore Joint Venture - Peru
Empresa Minera Los Quenuales S.A. ("EMLQ"), a Peruvian subsidiary of the Glencore Group, has been granted an option to earn up to 70% interest in the La Joya property. Precious metal mineralization (gold, silver +/- copper and molybdenum) is located in the Central Zone of La Joya where an interpreted intrusive unit intrudes the sediments. The area of potential mineralization measures approximately 2,500 m from south to north. Gold values in these areas are as high as 6.59 grams per tonne ("g/t") gold and occur in gossan zones. Silver anomalies assayed as high as 1,411 g/t silver in the Central Zone.
RO - Montezuma Joint Venture - Nevada
The RO claims are adjacent to the historical high grade Sleeper Mine and are optioned to Montezuma Mines Ltd., a subsidiary of CMQ Resources Inc. Under the terms of the option, Montezuma may earn a 55% interest in the RO Property by funding US$3,000,000 in qualified expenditures over a five year period. Montezuma has sent an exploration plan and budget for 2013 to the Company that calls for an additional US$1,000,000 for further drilling. No interest is earned until US$3,000,000 has been expended.
