La Sabila Gold Project
The La Sabila gold project is a 2162 hectare (5342 acres) advanced gold exploration project located in southeastMichoacan State, Mexico. Twenty-one reverse circulation (RC) drill holes were completed by a joint venture led by Mount Isa Mining (MIM) between 1996-1998, and 11,300 meters of diamond drilling (core) were completed by the vendor over three drill campaigns in 2008, 2010, and 2015. All exploration activities completed to date occurred within an area of approximately 2200 meters X 400 meters, representing only about 8% of the total land package acquired by the Company, suggesting significant potential exploration upside.
An historical preliminary gold-silver resource estimate of 954,958 ounces gold + 4,651,691 ounces silver at 4.795 grams per tonne gold and 23.7 grams per tonne silver was calculated from drill-core and drill road-cut sampling from four of the largest of 10 known gold occurrences within the 2200 meter X 400 meter area of to-date exploration.