The El Habal precious metals project comprises 3,700 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.
The Yauco project comprises of 7,000 hectares of mining concessions adjacent to the southern boundary of GR Silver Mining’s El Habal project. The Yauco project lies on the western fringe of a mining district named Vanilla, which has seen 200+ years of historical artisanal mining activity. Currently there are three small scale underground mines that are going back into production and three abandoned underground mines in Vanilla.
GR Silver Mining has completed a preliminary survey of the concession, identifying five compelling gold-silver anomalies. These targets were the focus of the Company’s planned follow up exploration programs in 2018. Initial reconnaissance has identified northwest structures hosting disseminated and vein-style gold and silver mineralized zones. The following royalty interest is related to Yauco: 1.0% NSR to Sandstorm.
The Villa Union project comprises 5,600 hectares of mining concessions and is located 12 kilometres north of the Rosario mine. Minera Penoles S.A de CV is a major Mexican mining company located in a significant historical mining district. Villa Union’s attractive location covering 5 kilometres on the western edge of the Panuco Graben, and 7 kilometres on the western edge of the Rosario Graben, host to the Rosario mine, provides an immediate target for precious metals exploration. The following royalty interest is related to the Villa Union: 1.0% NSR to Sandstorm.
El Placer II
The area has a long mining history with numerous informal miners and well-established local mining companies reportedly operating in the region since the 1700’s until the early 1900’s. Together with the Rosario Mining District, the Concordia Mining District was historically a buoyant mining district from the 1700’s to early 1900’s. There were four large processing plants: San Nicolas- Hernandez (Compania Minera Panuco), Santa Rossa and Rio Florido. The historical records indicated processing of gold silver rich ores and base metals lead-zinc ores with gold and silver as by-products. Modernization occurred in the early 1900’s with introduction of cyanide leaching in the district.
The El Placer II concession covers 111,000 hectares. The area hosts many sites with evidence of historical artisanal mining. The following royalty interest is related to the Villa Union: 1.0% NSR to Sandstorm.