San Ricardo (Au)
SOLD

• The San Ricardo property consists of six claims covering 3,138 hectares, 100% owned by the Company. Two of the claims; San Ricardo and San Ricardo 2, cover 50 hectares on an existing mine that was acquired by the Company in 2013, The remaining five claims (Teocuitla, Teocuitla 2, Angel, and Tlaloc 2) cover 3,088 hectares, and were staked between 2009 and 2011.

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• Multiple vein targets have been identified in the property including the 12,000-ounce of gold San Ricardo mine (In-house estimate not-43-101 compliant).

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• At the San Ricardo mine all underground workings were opened and saw-sampled, and several hundred meters of trenches were excavated and sampled. Underground channel samples collected in four levels of the San Ricardo mine returned up to 97 g/t Au (average 6 g/t Au), and up to 452 g/t Ag.

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• Subsequently, 14 diamond drill-holes were drilled in the property to test two veins, the Santa Cruz, and Mina Antigua, at shallow levels.

  

• Drill results in the Santa Cruz vein varied from minor precious metal mineralization to 2.3 m with 23.1 g/t Au, whereas one of the holes at the Mina Antigua vein intersected 4.5 m with 100.4 g/t Ag.  

    

• The mineralization on the property is epithermal in nature and has not been constrained along strike or depth by drilling. A length of 400 meters of the Santa Cruz and Mina Antigua veins have been sampled through the extent of their outcrops.  Said vein-structures however, are contained within structures that crop out discontinuously for over 1.5 kilometers where additional ore shoots are expected.