The Morelos Sur project is an advanced gold project located within a rapidly growing gold district in Mexico (15 Moz discovered to date which includes Goldcorp’s Los Filos mine and the recent discovery of the Morelos deposit by Torex Gold Resources)
The Morelos property has excellent infrastructure, the property is located near a major highway with power in place, has many nearby water sources and an assay lab in a local village. Over 17,000 hectares of land with 100% land ownership.
Morelos Sur has four prominent exploration targets identified to date through previous exploration programs; the Mina Verde, La Joya, Las Calles and La Magnetita targets. Additional targets are currently being identified through exploration. Drilling commenced in November of 2010 and is currently ongoing.
The most advanced gold target is Mina Verde, which has a NI 43-101 compliant resource of 80,000 oz’s at 1.49 g/t applying a cut-off of 0.2g/t Au. The resource was drilled over a 300 meter by 400 meter area and is open in three directions. A similar geology and magnetic signature exists in an area three kilometers by one kilometer.
The La Joya target also has a significant magnetic anomaly and previous drilling has intercepted narrow widths of iron oxide rich silicified marble with grades up to 87 g/t Au.
