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Estimated Project Potential

Below is an excerpt from a CPG's report after a recent visit to the mine.


"...previous mining operations exposed on the Veta 2 structure 500 meters of strike length and 280 meters of dip (height), of which the top 50 meters has not been considered for it has been extensively mined. Currently mining on Veta 2 is exposed that twp of the three vein splays (1 m avg width) are relatively unmined below the 555 level, over a strike of 200 meters and 40 meters dip. This is a volume of 16,000 m3, or 48,000 tons. This tonnage could become a mixture of reserves and measured/ indicated resources rapidly. The resource above could be called an indicated/inferred resource safely until a proper survey is completed. The 515 level crosscut has intercepted the Veta 2 mineralization, partially confirming its reported continuation to depth (reported workings in mineral to 335 meter level). I would suggest the rest of Veta 2 resource potential (500m x 200 m x 3 m) could be demonstrated to at least inferred/indicated status within a few months of reopening the old workings, new explorations and developments."


Estimated Resource Potential (based on reports and production results)


Estimated Grades: 11% Lead (Pb), 15 oz Silver(Ag), $542/T

Estimated Average Vein Dimension: Strike 500m, Depth 400m, Width 3m

Estimated Average Vein Potential: 1,800,000 Tons

Estimated Mineable Vein Potential: 450,000 Tons x $542 =  $243.9 M


Three veins identified:

1.35 M T @ $542/T = $731.7M

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