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Target
Gold
Hectors
2,221
Purchase terms.
The terms of the contract call for payments of $10,000 on signing (paid) and escalating payments over five years totaling $125,000 followed by a final payment of $1,000,000 to earn a 100% interest in the properties. The owner retains a 2% Net Smelter Return but the Company can purchase this royalty for $1,000,000.
Comments
The property comprises 72 hectares and covers a 1,700 meter long gold-bearing epithermal vein. Prior owners explored the vein by excavating 45 trenches totalling 2,400 meters and by drilling 18 core and rotary drill holes totalling 2,009.15 meters.
Some of the more noteworthy intercepts from trenching include the following:
| Interval (meters) |
|
Gold Assay (grams/tonne) |
| |
|
|
0.75 |
|
15.60 |
2.20 |
|
7.25 |
3.90 |
|
23.95 |
2.00 |
|
6.70 |
2.00 |
|
6.83 |
6.00 |
|
15.76 |
Following are some of the noteworthy intercepts from drilling:
| Hole # |
Down Dip |
| |
From (m) |
To (m) |
Thickness (m) |
Au Grades (g/t) |
Ag Grades (g/t) |
| DLDD 02 |
46.75 |
49.51 |
2.76 |
6.74 |
20.94 |
| DLDD 05 |
99.50 |
101.80 |
2.30 |
8.35 |
42.35 |
| DLRD 18 |
221.45 |
222.25 |
0.8 |
0.61 |
1.9 |
| DLRC 10 |
35 |
39 |
4 |
1.01 |
34 |
| DLRD 14 |
101.20 |
102.25 |
1.05 |
1.67 |
56.35 |
| DLRC 11 |
36 |
39 |
3 |
1.10 |
43 |
| DLRD 15 |
|
|
|
|
|
| DLDD 04 |
58.87 |
60.09 |
1.22 |
1.24 |
25.15 |
| DLRD 06 |
151.7 |
152.7 |
1 |
1.51 |
0.6 |
| |
158.47 |
158.75 |
0.28 |
6.12 |
0.9 |
| DLRC 13 |
4 |
5 |
1 |
0.1 |
0.4 |
| DLRC 03 |
18.90 |
20.42 |
1.52 |
3.23 |
3.63 |
| DLDD 01 |
40.82 |
44.70 |
3.88 |
2.27 |
36.42 |
| DLRD 07 |
148.95 |
152.35 |
3.40 |
3.36 |
4.02 |
This property lies just 10 kilometers north of our Toruel silver property and is close to some of our Los Menucos properties as well.
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