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For more information on Medinah Minerals for shareholders e-mail: mdmnshareholder@gmail.com
AURYN is the owner of the Altos de Lipangue (ADL) project, comprising over 10,500 hectares. The ADL is adjacent to Lampa, Chile and about 30 kilometers northwest of Santiago, Chile. MASGLAS, AURYN’s parent company has an executive summary of the ADL Project and further details can be found on AURYN’s page.
Share Structure Information
Prior to owning shares in AURYN, MEDINAH was an owner of several of the mining claims that were part of the ADL. For a number of reasons, including multiple owners of ADL claims, the former management team of MEDINAH was unable to significantly advance the exploration and development of the claims it had a partial interest in.
With the assistance of AURYN, MEDINAH secured 100% ownership of its claims in October of 2013. Subsequently the former management team continued to work with AURYN and recently closed a sales agreement that allowed AURYN to consolidate the entire ADL mining district and provided MEDINAH shareholders with a 25% equity stake in AURYN Mining Chile SpA.
Key ADL Project Points
The Alto de Lipangue plateau's claims consist of a gold, copper, silver and molybdenum complex of approximately 10,000 hectares located along the Andes coastal mountain range approximately 35 kilometers NW of Santiago, Chile in the Metropolitan Region of Chile. Medinah's Lipangue claims are believed to encompass a large copper/gold porphyry as first confirmed by Gordon House, former (dec.) P. Geo of Medinah, as suggested by independent geological analysis provided by A.C.A. Howe on the property and the Satellite Imagery Report by Clemente Sepulveda Perez (contracted by Vale and BHP Billiton). It is of significant note that Perez concluded in his report that "2 PORPHYRIES ARE PRESENT AND A VARIETY OF MINERALIZATION TYPES WERE IDENTIFIED. AT LEAST "HUNDREDS OF MILLIONS OF TONS OF RESOURCES" ARE PRESENT IN THE UPPER PARTS OF THE PORPHYRIES AND SKARNS. HE CITES THAT THIS IS WITHOUT A DOUBT A "WORLD CLASS" DEPOSIT."
Key Points of Alto de Lipangue:
1) Approximately a 140 square Km (according to C. Sepulveda Perez) area of landholdings.
2) 18 holes drilled to date identifying an approximately $[2] billion "measured resource" at today's prices (July 2011). This "Gordon" breccia pipe is open in all directions, measures 80-meters in "True width" and dips to the south and east.
3) A second breccia/skarn discovered at the northern aspect of the Lobo property of Cerro Dorado, Inc. "Containing upwards of 3% copper, plus gold, plus moly". The Northern Lobo breccia/skarn outcrops over 1,000-meters in length and 80-meters in width over a 400-meter elevation range from 1,300 to 1,700 meters. This was described by its discovering geologist at the recent annual meeting as "A major mineralized breccia pipe".
4) A "Stockworks" discovery has been identified by one of the visiting major mining firms southwest of the "Gordon" breccia pipe. No surface or depth dimensions are available yet to my knowledge.
5) A 250-meter by 250-meter "Bowl-like depression" (Suspected breccia) near the airstrip bordering the southern Alto and Lobo (Cerro Dorado) properties. This depression coincides with very favorable geochemical sampling as well as Induced Polarization findings of "High resistivity" (heavy silicification from the presence of quartz which often is associated with gold) and "highly polarized" indicating the presence of sulphides often found bonded to various metals. Surface sampling revealed 6-10 gm/tonne gold plus moly.
6) Three past-producing molybdenum mines on site near the 1,000 meter elevation level (the plateau is at 2,000 meters). This finding is very consistent with the thesis of a copper-moly porphyry as molybdenum typically concentrates at lower elevations near the outer aspects of the "Porphyry stock" (Lowell-Guilbert model). At the most recent Annual General Meeting of Medinah Minerals, Inc. Sr. Quijano noted that the molybdenum assay results in this area were approximately 10 times that of the average molybdenum mine. Medinah's head geologist brought samples of very high concentration moly containing rocks found near the Carrizo Mine adit. Native molybdenite looks an awful lot like graphite and has a similar "slippery" texture.
7) Many vein systems one of which, the Fortuna Vein (Cerro Dorado), averaged gold production values of 63.4 gm/tonne from 1940-1970. ACA Howe report suggests that these veins have barely been touched and remain mostly unexplored. Other veins include the Veta Rica, the Guarani, the Caren and the Veta Espanola.
8) Mineralized 80-meter wide shear zone found at Las Dos Marias. This has been traced at surface for over 700 meters before it dipped below the volcanic andesite layer. The 71-meter level revealed a 1-meter intersection measured by ACA Howe as containing 454 gm/tonne gold.
9) Copper skarn/manto discovery at Las Dos Marias on the eastern flank of the "Quebrada Durazno" ("Peach gulch"). The junction between the low sulphidation gold-copper porphyry and this skarn has been identified.
10) 40 Km of roads recently built and/or refurbished. "Road cuts" into the side of the mountain throughout the property reveal mineralization nearly ubiquitous in nature. This is especially true at the "North" road (Cerro Dorado) with its 24 "switchbacks" cut into the mountain side revealing copious amounts of mineralization.
11) Many, many kilometers of adits (horizontal tunnels), chimneys, trenches, shafts, etc. completed over the last 30 years.
12) Tailings piles from artisanal workings average 5.3gm/tonne gold.
13) Close proximity to the Ventanas (Codelco) and Chagres (Anglo American) smelters.
14) Close proximity to the seaport of Valparaiso.
15) Close proximity to a major electrical grid west of Lampa.
16) Close proximity to Santiago (approximately 37 Km)
17) Relatively low elevation of 500 to 2,000 meters with water issues much less severe than the Andean or Atacama Desert porphyry mines at higher elevations where ACA Howe reports the infrastructure to be "basically nonexistent". Water issues, electricity issues and natural gas issues at the higher elevations are a huge problem that might curtail copper production and buoy prices and the attractability of discoveries at lower elevations.
18) Roughly estimated average of $100/ tonne "Rock" containing copper, moly, gold and silver.
19) Extremely roughly estimated ore body size of 800 million tonnes (Via crude extrapolation of an average-sized copper-moly porphyry and an average-sized copper-gold porphyry).
20) Host country of Chile considered by many as the safest and most mining-friendly country in South America if not the world.
21) Over a dozen major mining firms have shown interest by making repeated site visits and signing non-disclosure agreements (NDAs).
22) Porphyry discoveries are considered very homogenous and not likely to present any shocking disappointments as to size and/or grade. Their grades are not supposed to be spectacular. They're known for being huge and of moderate to low grade. They are the target of choice for most mining companies due to their long mine lives.
23) Codelco (the Chilean government's mining arm and largest producer of copper in the world) recently staked the properties contiguous to the south where they recently embarked on an airborne geophysical study.
http://www.medinah-minerals.com/photo_gallery.html
http://www.medinah-minerals.com/images/gallery/tunnel-breccia.jpg
http://www.medinah-minerals.com/images/example_coarse_gold_recovered.jpg
http://www.medinah-minerals.com/images/gallery/01-Los-dos-Marias-adit.jpg
http://www.medinah-minerals.com/images/gallery/copper.adit.2008.jpg
http://www.medinah-minerals.com/images/gallery/copper.adit.inside.2008.jpg
Video Tour of the Property is available here: http://www.youtube.com/user/Medinahshareholders
Map of the property can be found here:
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