Quaterly is out - :)
Effective July 6 2014, announces that it has completed the acquisition of a 100% interest (subject to certain underlying royalties) in the Gringo Viejo Project, the project is a past-producing mine dating back to 1982. A Preliminary Economic Assessment ("PEA") estimated an Indicated resource of 3.8 million tonnes at a grade of 1.66g/t gold and 24 g/t silver as well as an Inferred resource of 1.8 million tonnes at a grade of 1.39g/t gold and 31.96g/t silver (Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized), located on the best gold zone of Mexico with companies like Sierra Metals Inc, Goldcorp Inc, Minera Frisco SA own by Grupo Carso in Mexico the potential is exponential at short and medium term. The Company plans to undertake a complete review of all previous work, update the resource, conduct additional baseline studies and diamond drilling, to further advance in to feasibility and pre-production exploration stage. Further, we are looking in to expand our capacity of material processing from approximately 1200 tonnes a month to up to three times within a year, depending on additional institutional financing.
Our Business
We shifted our business focus on gold exploration in Mexico.
Mining Concessions
We will anticipate commitments in other areas in North Mexico, particularly in the State of Sinaloa and Sonora.
We will enter into a joint venture with gold mining concessions in Mexico.
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