Santa Fe (located just EAST of Mina Real) Santa Fe Project
The Company completed the construction of the access road to the area of Mina Grande historical workings. Hauling of previously produced mineralized material to the processing plant commenced with the initial material moved to the mill having grades averaging 1.5 g/t Au and 250 g/t Ag.
During the program of road construction to access the historical workings the Company identified old underground workings and very shallow stopes in a length of 300 meters on the El Lizo vein. The results of sampling graded 3.1 g/t Au and 283 g/t Ag over 0.15 meters. Exploration with drifting will begin shortly on the El Lizo vein.
Santa Fe Project
The construction of 2.9 km of road to the Mina Grande was completed, both the road to Ejido Santa Fe as well as the access road to the Project. This will allow the use of 14 m 3 trucks for hauling mineralized material to the processing plant.
Mina Real has agreed to implement a program of exploration to determine if the Santa Fe Property can be economically exploited. In addition, if the exploration work is successful, the Company has agreed to provide the necessary capital to construct a processing plant capable of processing a minimum of 200 tonnes per day. The Company must also pay US $10,000 monthly while it is conducting exploration and development on the Santa Fe Property.
10 vein structures were historically identified and the property is approximately 3,800 hectares and is within trucking distance of the Mina Real mines