MINA DE ORO

SUMARY

 

The project is a gold exploration target located in Antioquia, Colombia, within the belts of Cauca and Segovia, where the main gold deposits are located. The land extends to 7,013 hectares along the western side of the course of the Nechí River (Figure 1), neighbor of Mineros SA (Figure 2), one of the largest gold producers in Colombia that extracts gold from deposits of alluvial veins and of gold.
The alluvial deposits within the project properties are evidenced by the artisanal gold extraction activities documented in the area, the deposits of gold veins are indicated by quartz and alteration of the gold in the formal campaigns of surface sampling and drilling exploration. .
Despite the remoteness of the area, the El Bagre Project has been explored through direct geological, chemical and drilling methods. What, in addition to the evidence of historical work dating from the early 20th century, provides additional information that helps to better understand the genesis, geology and mineralization of the project.
Since 2009, Snowden (2009), Brexia Resources (2010-2012) and SRK (2018) have carried out three major geological exploration and evaluation campaigns, all of which have been dedicated to achieving four objectives:
• To determine the scope of pleasure alluvial gold deposits and associated gold grade
• To confirm the presence and continuity of the gold veins
• To estimate the thickness and mineral grade of the gold veins identified
• To verify the economic potential of the project

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Brexia Resources

Brexia Resources began exploring the El Bagre Project from 2010 to 20XX [MC1] including numerous mapping and sampling. Figure 3‑11 shows an example of mapped geology within the El Bagre Project, including interpreted faults.

Much of this work was conducted through Brexia’s local Topographic and Drilling company. The company collected 15 surface samples in 2010 corresponding to vein and rock chip. Thirteen of these samples returned high gold grades.

A further sampling campaign in 2011 was carried out by Geominas. Samples taken were obtained from outcrop and alluvium. Rock outcrop samples included both heavily weathered (saprolised) and fresh material.

In 2012, six diamond holes were drilled. One of the objectives was to identify and model out the continuity of the veins within the Project. In general, vein continuity was demonstrated. Four veins could be correlated with confidence.

Snowden Consultants

In 2009, Tribecapital Partners S.A. commissioned Snowden Mining Industry Consultants (Snowden) to conduct an evaluation of 3 gold veins and the alluvium potential of the Project. The property owners at the time were Hugo Albiero Atehorua (50 percent) and Latin America Worldwide Mining (50 percent). The property was informally named “Los Pizones”.

Snowden conducted a 2-day site visit in September 2009. They excavated a two m3 sample of alluvial material which was sampled and then processed through an artisanal sluice box. The test sample yielded was estimated to have a grade 2 g/t Au. Samples taken of a narrow gold vein ranged from a low of 1.77 g/t to a high of 40.2 g/t Au

Additionally, sampled vein material taken from artisanal drifts yielded anomalous gold values, in harmony with the veins on the property acting as the gold source for the alluvial mineralisation. Sampled veins ranged in thickness from 25 to 40 cm and contained variable gold grades.

Three veins were visited and sampled.  Two of the veins were oriented near horizonal and striking east-west.  One vein however, was steeply dipping toward the northwest.

Previous exploration

Bacata’s El Bagre Project is in a relatively remote area characterised by high relief. As a result, limited modern exploration has been carried out except for some historical workings dating back to the early 20th Century.

Early exploration focussed on the potential of alluvium deposits with numerous informal artisanal workers exploiting gold.

Previous exploration

Bacata’s El Bagre Project is in a relatively remote area characterised by high relief. As a result, limited modern exploration has been carried out except for some historical workings dating back to the early 20th Century.

Early exploration focussed on the potential of alluvium deposits with numerous informal artisanal workers exploiting gold.

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