Cimarron
The Cimarron property (2,874 ha) is located on the western edge of the Sierra Madre Occidental (SMO), one of the largest silicic volcanic fields in the world. The property is centred on a window of granodiorite, an intrusive of probable Eocene age, which is overlain by rhyolitic ignimbrites and tuffs of Oligocene. A historical technical report (“2011 Report”) was completed by Snowden Mining Industry Consultants in 2011. Click here for the Historical Report.
Exploration activities completed to date on the Cimarron property include soil, rock chip and trench sampling, geological mapping and a ground magnetic survey, as well as shallow core and reverse circulation drilling. The results of the exploration programs indicate that the property is prospective for porphyry Au-(Cu) and epithermal Au-Ag-(Cu) mineralization. Four phases of drilling have been completed at the Cimarron property – the first in the late 1990s by Hecla; the second in 2008 by Mazorro Resources; and the third in 2010 by Oro Mining. The first three phases, totaling 52 holes (9,724 metres), were included in the historical resource estimate, part of the 2011 Report.
In 2013, additional surface core drilling was completed , consisting of 54 holes (9,597 metres), was completed at the Cimarron property. This latest drilling has not yet been incorporated into an updated mineral resource estimate however it was recently integrated into a new 3D geological model by GR Silver. Click here to view Cimarron property maps.
The following royalty interest and purchase rights are related to the Cimarron: 1.0% NSR if ounce of gold price is US$300,00 or under, 1.5% NSR if ounce gold price is higher than US$300.00 , 2.0% NSR if ounce gold price is higher than US$400.00 and 2.5% if ounce of gold price is higher than US$500,00. The Company has a full or partial buyback for US$1.0M per 0.5% NSR.
El Habal
The El Habal precious metals project comprises 4,000 hectares and is located 75 kilometres east of the modern coastal port of Mazatlán, and 10 kilometres on a paved road from the historical mining town of Rosario, Sinaloa, Mexico.
El Habal’s mining concessions cover a 6-kilometre-long by 1-kilometre-wide trend, containing a series of historical shallow and small-scale underground artisanal mining sites, resembling the Rosario Mine’s geology. The following royalty interest and purchase rights are related to the El Habal: 1.0% NSR to Minera Camargo, with a full or partial buyback for US$1.0M per 0.5% NSR, 0.5% to Erme Enrique Minjarez and option to Sandstorm to purchase 1% NSR for US$2.0M.
El Habal hosts excellent infrastructure for future mine development.
Click here for the NI 43-101 Report.