( Formerly -Guadalupe de Los Reyes)
|Location||Sinaloa State, Mexico|
|Ownership||5.2% equity interest in Prime Mining Corp. Formerly - ePower Metals*|
|Land Position||15,575 ha|
Indicated: 6,843,000 t grading 1.73 g/t Au and 28.71 g/t Ag
Indicated: 380,000 oz Au; 6,315,300 oz Ag
|Mining & Processing Concept||Open pit mining with heap leach processing|
- Four deposits with drilled resources
- Engineering studies in progress for heap leach operation
- Aggressive exploration to expand the current resource and planned throughput
- Eight additional exploration target areas
The 15,575 ha Guadalupe de Los Reyes project is located in Sinaloa State, 200 km by road north of the coastal city of Mazatlán and 30 km by road southeast of the town of Cosalá.
As detailed in the Company’s October 24, 2017 press release, Minera Alamos has an option to acquire all the issued shares of Vista Gold’s subsidiary Minera Gold Stake SA de CV, which owns the Guadalupe de Los Reyes project. The agreement calls for staged payments totalling US$6M. Production from any open pit (heap leach) mining operations at the Project will be subject to a minimum 1% net smelter return royalty (“NSR”) payable to Vista Gold which could increase to 2% if gold prices exceed US$ 1600 per oz. This royalty is capped at a maximum cumulative amount of US$2 million.