We have completed a feasibility study of a installing a Toll Plant Project in the Etzatlán region of Jalisco, Mexico. We explored several abandoned mines that still have tremendous gold, silver and other precious metals values left in them, including multiple mine waste piles, tailings, and mine dumps. The mines and mine waste piles in this area have been proven to have values that can be economically recovered with basic extraction technology. While this plant would serve landowners and mine concession owners located across the Etzatlán/Ahualulco area, our primary focus has been the MX-AM Mine Project and especially its mine dump, located in Ahualulco. There was a major operation that was actively mined 100 years ago and has a large mine dump of ore and several tailings piles from the processing. The dump has 4-million tons of rocks that have been mined, but not processed. We project a conservative recovery of 40 grams of silver and 1.75 grams of gold /ton could return a profit of over $300 million. Another $180 million in profits could be earned from processing the MX-AM tailings from the operation. Currently the ownership of the concession is unclear and we will revisit it once the legal ownership of the concession is resolved. This project will remain on our short-list for expansion.
Current Status – On hold until legal ownership is determined between two communities
Exploration – Completed 3 exploration trips, completed XRF field assays, and laboratory assays
Assays – Good recoverable values found in the mine, in the mine dump, and in the mine tailings
Legal Review – Preliminary review shows concession ownership my not be accurate
Pilot Plant – Study to be completed after ownership of concession is resolved
Concession Rights – To be negotiated with the legal owner of the dumps, and the legal owners of the tailings
Surface Access – To be negotiated with after legal issues are resolved
