Overview

Corimayo is a covered, oxide deposit discovered in 1998. Mineralization lies 500 feet below surface. Gold is disseminated in the upper portion of a lithic tuff unit, immediately below the contact with capping unmineralized andesite. Gold is fine grained, associated with strong silicification. The deposit contains a high grade core with adjacent lower grade mineralization.

	Above: Corimayo – section looking north.

Current plans are for an open pit with a strip ratio of seven tonnes of waste for each tonne of ore. Mining would utilize existing mining equipment and send ore to future expansions of the La Quinua leach pad which is 1 kilometer west of Corimayo. Waste from Corimayo would be used as backfill for the La Quinua/El Tapado pit, whose western edge is immediately adjacent to the eastern edge of the Corimayo pit.

Exploration Potential

Drilling through the end of 2004 defined high grade oxide reserves of nearly 3 million ounces (100% basis) and has delineated the extent of the oxide ore body. Further work is now focused on exploration of the sulfide mineralization below the pit. Drilling to date indicates that a sulfide mineralization zone may be present and will require extensive drilling in the future.