El Candelero
| Overview | |
| • Goldgroup signed an agreement with Goldcorp in 2007 to earn up to a 70% interest under the following terms: - $1 million exploration expenditure over 3 years earns a 50% interest - Further $500,000 exploration expenditure over another 2 years earns an additional 20% interest - Goldcorp has a subsequent back-in option to increase its interest from 30% to 60% by spending $3 million over 3 years • Located 7 km west of Tayoltita, where Goldcorp is mining 250,000 oz AuEq per year, with probable continuity of vein system • 26,673 hectare claim areas • Property has Tayoltita-like mineralization • Low sulphidation epithermal vein system similar to Tayoltita's with veins up to 35m wide and up to 2km in length in three main areas • Goldgroup has conducted five months of field work • Santa Cruz: Five main vein structures 5-20m wide Best sample: 10m @ 17g/t AuEq • Pino: Four main vein structures avg. 8m wide Best sample: 8m @ 32.7g/t AuEq • Soledad: Single vein up to 20m wide and 800m long. Best sample: 3m @ 8.6 g/t AuEq | |
