El Compas, Mexico

El Compas Overview

Overview

Highlights
A high quality, fully permitted gold-silver mine and a modern leased plant in the historic silver mining district of Zacatecas, with good exploration potential to expand resources and good acquisition potential to consolidate other properties with stranded resources and exploration targets in the area
Acquisition Purchase of 100% interest; transaction to close in Q2 2016
Location
One kilometre south of the city of Zacatecas (population 1.5 million) in the state of Zacatecas, Mexico
Access Two kilometres by gravel road to the city of Zacatecas
Property 3,990 hectares consisting of 28 concessions and a core area fully permitted for mining. The property hosts multiple gold-silver veins, with a history of small scale, underground mining from two old mine workings. 
Plant Includes a five-year renewable lease on the 500 tonne per day La Plata ore processing plant located 20 kilometres to the north, which has fully permitted crushing, grinding, flotation and tailings circuits
Infrastructure Excellent infrastructure: state power grid; local labour, supplies, and services
Geology Gold-rich, low sulphidation, epithermal vein system hosted in favorable Cretaceous Chilitos Formation andesites and sediments capped by Tertiary rhyolites
2016 Outlook Invest in exploration to upgrade and expand the resource, consolidate properties in the district to extend mine life, refurbish the plant, re-evaluate the economics to develop the mine, and complete an updated technical report

The El Compas property is located in the historic mining district of Zacatecas, where mining activity dates back almost 500 years. The state of Zacatecas is one of the largest silver producing regions in Mexico and is home to the world class Peñasquito and Fresnillo mines. The El Compas property is host to a number of gold and silver bearing veins that supported two small-scale underground mines but have not been fully explored.

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